Guidelines for Debt Free Life

By C Barnabas

On any account never borrow money from others and also avoid giving loan to others.
Never purchase anything in credit including vehicles and house-hold items. Avoid purchasing groceries in the shop in credit.
Clearly understand the needs and wants. Spend your money only for the needs. Never permit your wants to be changed into your needs.
Be disciplined in purchasing your things. Always avoid impulse buying.
Try to save about 10 percent of your income in a remunerative way. Invest your money with an interest rate above inflation rate. Invest your savings in a house or a land which gives more benefit.
Give more than 10 percent of your income to the Lord. All believers including full time workers should give a minimum of one tenth of their income to the Lord.
Be content with what you have, and never compare yourself with your relatives or friends, and try to purchase all the things that they have in their home.
Never follow the spending model of others. Avoid purchasing certain items to please your neighbours or relatives. Be careful while spending on marriages and special functions.
Never spend money more than what you earn. If you earn two thousand rupees never try to spend like your friend who earns five thousand rupees.
In the beginning of every month budget your income and expenses. At the end of each month check whether you have spent your money as per your budget.