Tackling Student Loan Debt

The Bible does not tell us that it is a wrong to borrow or that it is wise. But it also does not tell us that God will bail us out of our debt either. So how do we handle debt?

Debt can fell like a never-ending cycle leaving us feeling stuck. In other words, debt is just a distraction. Jesus wants so much more for our lives. Debt dictates to us what we have to do instead of what we are called to do.

Today, student loans are one of the largest debts that hang over many Americans causing so much unwanted stress in households. Most student loans are multiple loans all wrapped up under one statement. If you don’t know where to begin, breaking down the statement can feel a little overwhelming. Normally we pay the amount the loan provider tells us to. Minimum payments are mostly interest paid to the highest rate loan first then a few dollars to principal.

3 Ways to Tackle Student Loan Debt

Take time to review your budget

Check to see what is left over after all bills are paid so you know how much extra can be used to pay down your debt. 

Review your student loan statement

Write out each loan with the amount owed and the interest rate on that loan. Add this to your budget each month. Keep a focus on what debt you are trying to eliminate. 

Sign into your student loan account online

Each month make the minimum that is asked from the provider. Then with the extra you have in your budget each month set an amount you will use to pay towards the principal to one of the student loans. Start with the smallest loan amount first. This will allow you to see debt decreasing faster which will keep you motivated to eliminate the rest. 

These also work if you are in school and have deferred loans. Your loans are incurring interest daily. Even though you are not receiving a bill each month, you can still sign in to your online portal. Since the loan is deferred, each payment can be applied to principal decreasing interest cost and the amount that you owe. 

Give to everyone what you owe them: Pay your taxes and government fees to those who collect them, and give respect and honor to those who are in authority. Owe nothing to anyone – except for your obligation to love one another. Romans 13:7-8 (NLT)

No matter what type of debt` you have, these same principles can help you eliminate what you owe. As we make decisions throughout our life God does not want us to trust in our own understanding. Instead He asks for us to lean into Him with reflection and prayer, transforming our hearts so we can change the way we think.

Do you have tips that may help others pay off their student loan debts? Share in the comments!

Resource Transformation

Romans 12:2 (NLT) – Don’t copy the behavior and custom of this world but let God transform you in a new person by changing the way you think. 

Resources are a set of supplies provided by God to help us operate our daily lives. As Christians, this can seem to be a difficult task while trying to be a good steward of these resources.

The dictionary defines resources as a stock or supply of money, materials, staff and other assets that can be drawn on by one person or organization in order to function effectively. The definition does leave out a crucial resource, the giving of time. God truly wants to transform how we see and utilize the supply of resources that He provides. For God is the one who provides seed for the farmer and then bread to eat. In the same way, He will provide and increase your resources and then produce a great harvest of generosity in you. 2 Corinthians 9:10 (NLT)

The question is what steps can we take to be a better steward of these resources? Let’s take a look at four steps to help us think about this in a new way.   

Budget/Plan

It all begins with a plan. We need to know how much income is coming in, what expenses we owe, and be ready for those unexpected bills we might not see coming. An option for getting started is to break up your monthly income into percentages; this will guide how the resources will be utilized. For the main household expenses set aside 50-60% of your monthly income. Use this to pay for rent, mortgage, utilities, food, car note, cell phone, car insurance and student loans. It is possible that your initial percentage of expenses could reach up to 70% of the household income. As you pay down expenses, the percentages will decrease allowing you to shift the budget creating new opportunities for that income.     

Tithing

We all should have a heart to invest in Christ and the Church. It is one action to be faithful in giving 10% of our income to God, but as we deepen our walk with Christ, he also teaches us to share with each other. Yes, you will be enriched in every way so that you can always be generous. And when we take your gifts to those who need them, they will thank God. 2 Corinthians 9:11 (NLT) Tithing is important to the movement of the Church, but let’s also not forget about two other resources that can help our community. Our time and skills can be donated for the work of the ministry and for building up the body of Christ.    

Retirement 

Retirement may seem like a long time from now and preparing for it may seem like a heavy task. A good plan to reach for is setting back 10% of your income. That might seem like a big stretch today so until you can achieve that, a good starting point could be your employer’s retirement match program. Some companies offer 4-6% match as long as you invest 4-6% into your retirement. It is a great starting point to maximize your retirement planning. Each year you can reassess your budget and determine if you can increase your retirement giving in increments of 1% to help you prepare for the future.   

Reserve/Emergency Savings 

What happens with the other 20-30% of my monthly income? These funds can be set aside for unexpected expense, planning a family trip, supporting a cause that you believe in, paying down debt, an evening out with friends or investing in your education to learn a new skill. Taking these steps to create and review the household budget each month allows you a new perspective of managing your resources. 

Above all, look to God’s plan for budgeting your resources and seek His wisdom in your finances.

Six Ways to Stretch Your Budget

Together we face an unexpected time which can seem unclear and may cause us to rethink or question what we know, especially the way we handle our finances. The world tends to think that money can meet all of our needs. They utilize clever marketing so we keep spending and believing that money can fulfill all of our desires. In reality, truth reminds us that wisdom and money can get you almost anything, but only wisdom can save your life (Ecclesiastes 7:12). Scripture recognizes that money is necessary for survival but warns us against the love for money. God calls us to be content with what He has blessed us with. 

Hebrews 13:5 states, “Don’t love money; be satisfied with what you have. For God has said, ‘I will never fail you. I will never abandon you.’” 

God reminds us in this passage that He is always with us each step of the way. He is like the wind. We cannot physically see the wind, but we can feel the presence of the wind and how it moves around us just like God does in our own lives. As we face Covid-19, we might find ourselves with more time and less income on our hands than what we are used to. 

1 Thessalonians 5:18 tells us, “Be thankful in all circumstances, take time to reflect on the good things in your life that God has provided.” The question is, how do we stretch our budget during this time and maximize our resources?

Tips to Stretching Your Budget

1. Budget/Plan

Take a moment to write out a monthly budget. Place all of your bills/expenses on the left-hand side of the page, and on the right-hand side, write your household income. This allows a clear view of where your money is going each month. You can also use a monthly budget app for this task. 

2. Recurring payments

Examine if these payments are still necessary today. It is so easy to overlook recurring payments that we might think were canceled. 

3. Grocery Shopping

Take the time to make a list. Use digital and physical coupons. Anytime you do not have a coupon, consider a similar sale item. You will be surprised by how much you can save. 

4. Are your cell phone and cable bills hogging your finances? 

Today we are using more wifi and streaming options than ever before. Check your cell phone provider to review new plans that are easier on the budget. Great TV alternatives that are budget-friendly are programs like Hulu TV, YouTube, AT&T TV and PlayStation TV. See what fits best with your household. 

5. Mortgage

If you are experiencing a decreased budget due to Covid-19 check with your mortgage company for forbearance options. They have skilled representatives to help you choose which is the right option for your household. Sign into their website for all of the details.

6. Auto Loan or Lease

Contact your loan or leasing company for a deferment option on the vehicle loan. Sign into their website for easier deferment application process. 

What other tips have you found to be helpful in stretching your budget? Share in the comments!

Use the GPS

It’s time for college students to return to school which stirs memories of my years as a student. My first year of college, I lived in New York City. One evening, a friend and I planned to meet some people at a music store on the other side of the city. Of course, we were poor college students, so paying for a cab was out of the question. We took the subway.

Being 18 and thinking we knew it all, we didn’t take time to look at the maps posted clearly around the station. How hard could it be? Just a few stops, and we’ll be there. Of course, this was before cell phones and GPS apps, so over three hours later, the music store was closed, the people we were meeting were long gone, and we were still riding the train trying to find our way back to school. That was a long night! And it could have all been avoided if we had simply looked at the map before leaving the station.

Graduating and going out into the world can be daunting. Wouldn’t it be great if life had a mapping app? Imagine the trouble we could avoid. “Make a u-turn before you talk to that guy. He’s trouble.” “Turn right at the hallway, so you will avoid buying that candy bar in the vending machine. You don’t need it.” “Stop and study instead of going to the coffee shop with friends.” The benefits would be endless.

Unfortunately life doesn’t come with a mapping app for on-the-spot instant guidance, but we do have something even better: the Bible. I know it sounds basic, but the Bible is like a GPS from God, a map to set the coordinates of our lives.

2 Timothy 3:16, 17 (ESV) tells us

All Scripture is breathed out by God and profitable for teaching, for reproof, for correction, and for training in righteousness, that the man of God may be complete, equipped for every good work.

In these two verses, we see life-guiding characteristics of God’s Word: teaching, reproof, correction, training, and equipping. In other words, Scripture is the instruction manual for our lives. If we measure our choices or deeds by the Word of God, we have a clear route.

Since God created us, He knows us best, and His path for us will never deviate from His Word. It only makes sense that God’s way is the best way. His ways are higher, and His wisdom far surpasses our understanding. 

Comprehending the Bible is not always simple, but there are ways to determine if we are living our lives inside the will of God versus outside of it. If a choice or action doesn’t line up with God’s Word, then it’s not in God’s will. That part is simple. God’s will for your life will never contradict His Word. Keeping that in mind, here are

steps for using the Bible to navigate your life:

• Pray!

  Go directly to the author, and ask God to reveal scriptures that speak to your circumstances. Pray fervently but also take time to listen for His response.

• Read the Bible.

  Yes, actually picking it up or listening to an audible version regularly will help you know God’s will for your life. Don’t take anyone else’s word about what the Bible says. Read it for yourself!

• Attend a Bible-teaching church and Bible study group.

  Bouncing ideas off of others who are also familiar with God’s Word is a great way to know the direction God would have you go.

• Seek wise counsel.

  Find someone with more knowledge of the Bible than you. Ask for prayer, advice, and guidance.

God wants the best for each of us. He desires for you to live in His will in order for you to have an abundant life. God sees the “big picture,” and He knows exactly how and where you fit in it. He provided the Bible as our instruction manual, so use the GPS!

So What Do You Want to Do with Your Life?

“So what do you want to do with your life?”

I’ve had so many people ask me this question. In my current season of life (graduating high school, starting college, getting a job, etc.), it is the standard question to ask. Usually I answer a very vague, “I’m commuting to the University of West Georgia,” and the asker is satisfied. Sometimes they follow up with, “What are you going to major in?” I reply, “This may change, but right now I’m planning on majoring in Film.” People are usually satisfied after that. 

So to anyone who doesn’t know me, in the fall I plan on commuting to the University of West Georgia in Carrollton, GA and majoring in Film. I have no idea if I will stay all four years at UWG. I have no earthly idea what job I want to do. I don’t even know if I’ll be in Georgia this time next year! 

Whether you are in high school, college, just got your first job, or are married and have four kids, life is full of unknowns. It’s okay not to know what college you want to go to. It’s okay not to know what you want to major in. It’s okay not to know what job you want. People ask me all the time, “What do you want to do with your Film degree?” I say, “Well, I actually have no idea! All I know is I love the art of filmmaking, and I love people.” 

I constantly wrestle with the question, “So what do you want to do with your life?” I constantly have a new idea of what I could do or major in. I stress myself out a lot trying to figure out the rest of my life. But through this process of trying to figure out what resonates with my heart, I’ve learned some cool things about God (with the help of some wise council). 

1. You don’t have to know what you want to do.

It’s okay to be confused. God doesn’t say you have to have everything figured out all the time. He just wants you to pursue Him with all your heart. Once you start pursuing Him, He will reveal the future to you. It might not be very dramatic. It might feel like it takes FOREVER. But trust that He will. 

2. Keep moving forward.

Keep taking steps forward. God never said to just stand still and wait. Research careers, look up schools, shadow people, talk to people. Take steps towards your goal. Try things. The only way you will know if you like doing something is to try it! 

3. Write on a chalkboard.

I have a close mentor who has a huge chalkboard wall in her house. We dream all over the wall. We write random ideas that pop into our heads. We write jobs. We write adjectives. Anything and everything that we think of we write down. Then we look at everything and pick out what stands out to us. It helps so much to just write down all the thoughts swirling in your head. 

4. Find a dream team.

Find a few close people to dream and share your heart with. You don’t have to share every little thing with every person. Only about four people know all the ideas and passions in my heart. Find your dream team and dream wild and crazy dreams together. 

5. Don’t be afraid to fail.

I’m sure you’ve heard it before. “Failure is the best teacher.” But it actually is. If you think you might like something, try it! If you fail, GREAT! You have found something that didn’t work. Try something different. Learn from your failures. God doesn’t ask or expect you to be perfect. He wants your heart, not your perfection. 

So I’d like to encourage you as the next school year starts. It’s okay not to know what the future holds. It’s okay to be confused. God invites you on a grand adventure with Him. Sometimes it’s hype; sometimes it’s boring; sometimes it’s slow; sometimes it’s fast-paced. But God is inviting you into the unknown with Him. It’s completely terrifying, but it’s the greatest adventure you will ever go on. 

Kickstart Your Spring Cleaning

Whenever Spring comes, it just feels like it’s time for a refresh! With everything going on in life, it can be difficult to get motivated when it comes to Spring cleaning. But in the end, it’s so helpful to clean up the home and get things in order again.

There are a few ways to kickstart your spring cleaning this year that we think you should know.

Get Motivated

To get motivated about Spring cleaning, you have to think of your why. Why do you want to do Spring cleaning? Is it because you want your household back in order? Is it because you need to get rid of things? Or maybe it’s just been a long time since you’ve done a good cleaning!

Whatever the why is, remind yourself of it and this will motivate you.

Include the Family

There’s no need to take on this task on your own! Be sure to make a good list of what needs to be done for your Spring cleaning and share that list with your family. If they don’t know, they can’t help!

Maybe have each person put their name next to tasks on the list in different colors. Set a date to finish all of the Spring cleaning tasks and then be sure to have a celebration at the end! You deserve to celebrate together after all of your hard work.

Declutter

One of the main ways to get things back in order is to just declutter. Many times our mess isn’t necessarily dirty, it’s just a bunch of stuff. Gather together things like clothes, papers, toys, etc. and put them into categories in each room. Figure out what you need and what you don’t need.

Get Rid of It

After you declutter, you may want to get rid of a bunch of things! When in doubt, you probably don’t need it, so just get rid of it! If you haven’t seen Tidying Up on Netflix yet you won’t fully understand this concept, but the host always says that if the item doesn’t “spark joy” for you, then it’s time to say goodbye!

Did you know that Crossroads has a thrift store? Any items that you’re saying goodbye to can be donated to reNew Thrift!

Organize

AFTER you’ve decluttered and gotten rid of things, it’s time to take what you have left and get organized. What is Spring cleaning without some organization? Everything should have a place. Place your items by category and fit them into stylish boxes to keep out or in storage boxes for the closet or garage.

Papers are probably the most annoying to organize. But did you know that you don’t have to hold on to your receipts forever anymore? Click HERE to find a guide from Dave Ramsey on what papers to keep and what papers to shred.

Deep Clean

Now that you’ve got everything in order, it’s time to do your deep clean. This is when the floors get swept, the kitchen and bathrooms scrubbed, etc. After doing all of your decluttering and organizing, this part should be a breeze!

After you finish your Spring cleaning, your home will feel so refreshed! Breathe easy this Spring and just get it over with. Get your home back in order so that you don’t have to stress about going home to a mess.

Find a Spring cleaning checklist HERE!