He Said It! I Did It! Lesson 6: Avoid Debt at All Cost


In their book "He Said It! I Did It!" , Charles W. Buffington Jr. and his son, Charles W. Buffington III, take readers on a journey to financial freedom that results in a life of abundance that honors God.

In lesson six of this ten-part series, the Buffingtons explain why debt can be devastating to your family life. When you stay clear of debt and avoid paying finance charges, your money is freed up so you can tithe, while still increasing your investments. The following practices provide a pathway to helping you live an unburdened and prosperous life.

Lesson 6: Avoid Debt at All Cost

  1. Stay clear of debt!
  2. There are two types of debt–toxic and constructive. Toxic debt is consumer debt that robs you of your wealth. Constructive debt is debt that you use to build your vision. Avoid toxic debt altogether, and minimize the use of constructive debt.
  3. Debt is expensive in so many different ways. Focus on freeing yourself of this burden.
  4. Create a game plan, and set a schedule for reducing your debt. Utilize the debt ladder, which is a method of efficiently decreasing your debt by prioritizing each bill from the highest to the lower interest rate. You pay off the debt that costs you the most while continuing to pay the minimum on all your other accounts.
  5. Practice plastic surgery. Cut up those cards.
  6. Search for a better interest rate. A few minutes on the phone can make a real impact on your payments.
  7. Consolidate debt, but be careful about which company you choose to use. Destroy the credit cards you consolidate.
  8. There is an opportunity cost associated with debt. If you are continually paying on debt, you miss the opportunity to invest in your future.

Study these Scriptures to learn more on God’s principles for handling debt.

Psalm 37:21: The wicked borrow and do not repay, but the righteous give generously.

Deuteronomy 28:12-14: The LORD will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none. The LORD will make you the head, not the tail. If you pay attention to the commands of the LORD your God that I give you this day and carefully follow them, you will always be at the top, never at the bottom. Do not turn aside from any of the commands I give you today, to the right or to the left, following other gods and serving them.