How We Paid off $300,000 in Debt in 3 Years by Reading the Bible

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Guest post written by Raisa Piatkoff

My husband and I paid off $300,000 of debt in three years. These are the three bibles verses that helped us get out of debt

Four years ago, my husband and I were living in North Dakota. We were both working full time and making good money but at the end of the month we had nothing to show for it. We didn’t have a plan for our money therefore we spent it, willy nilly, and wondered where it all went.

Our finances were also a sore spot in our marriage. We were always fighting about whose fault it was that we were not where we wanted to be financially.  It was always ‘You shouldn’t have bought that’ or ‘didn’t you know what I was going to do something with that money?’.

Until we found a guy called Dave Ramsey.

He changed our lives! His books, radio show and YouTube videos motivated us through our journey to financial peace. With his help and God’s grace we were able to pay off $300,000 of debt in three years. We love that his financial principles were faith based and want to share the three bible verses that guided us to getting out of debt.

Make sure you check out Phillip and Tiffany’s post with more than 50 scriptures about finances and frugal living.

Proverbs 22:7

This is the first bible verse that helped us get out of debt. We kept telling ourselves that staying in debt meant staying a slave, and we were not slaves. When we were in debt my husband would work long and hard hours. Many times, he would take jobs that were a little farther away just because they paid better or he would work one more round. Many nights he would just sleep on the shop floor instead of risking driving home exhausted.

When we were in debt, my son rarely saw his father and my best friend was never home. My biggest motivator for living frugally, saving money and spending less was just the thought that once we would be debt free, we wouldn’t be slaves to my husband work anymore. We wanted to spend more time together as a family and therefore kept that as a driving force in our efforts.

I even kept a picture of chains up on our bedroom wall so we would know why we did it. It was why we stopped going to restaurants, buying organic food and new clothing. Big results required big sacrifices and this proverb was a huge stepping stone for us not only in getting out of debt but also starting our own business.

We saw that our only way to financial freedom was becoming our own bosses. That’s why I started my blog and he started his own financial coaching business.

Luke 14:28

This is the second bible verse that helped us get out of debt. When couples tell me, they don’t have their finances in order but they also choose not to budget for one reason or another, this is the proverb I always bring up. I grew up with my father working in construction, so the example I use to relate to that.

“Would you start building a house before making a blueprint? No. So why should you start spending money before making a plan for where it will all go?”

My husband and I have been debt free for three years now and we still write a monthly budget to this day. We make sure to write out all of our monthly expenses, that way we know how much we have to spend and how much we have to save towards out financial goal.

When we first started making budgets, oof, we had a tough go at it. The first three months were really hard but once we powered through, we found that our marriage benefited in many ways from making a monthly budget. We started communicating more about what our wants and needs were in the marriage… and not just in our finances.

I also learned how to be more open with my spending habits. I had a tendency to spend too much at the drive through and with my husband help I have been able to change my eating habits and lose over 10 pounds. Getting on a budget has helped better our lives in so many ways!

Check out Phillip and Tiffany’s blog post on how to feed their family of four with only $42 per week!

Proverbs 13:20

 This is the third bible verse that helped us get out of debt. When my husband and I first started using Dave Ramsey’s 7 Baby steps, we cut out all extra expenditures like restaurants and our entertaining budget was only $50 a month. That meant our date nights were pizza and Netflix. 

Learn how to make a monthly meal plan!

The first time we told our friends we were going on a budget, they were confused. Then when we kept declining their offer to go out to dinner or lunch somewhere and they just stopped inviting us. However, there were some friends that were so supportive that they would come over and have homemade sushi or a boring board game day in, just to hang out with us. 

The friends that hung around during our journey were also the ones that celebrated with us after we became debt free.

Because of the initial negative reaction to our sudden change in financial decision making, I was hesitant to speak out about our budget or our plan to get out of debt. Then at a wedding I brought it up to a woman that I had known my whole life. Only to find out that her and her husband ALSO went through Dave Ramsey and paid off all of their debt.

I was so inspired by their story that I started speaking more openly about our journey to others. Slowly, over the years we have been able to build a positive community around us of like-minded individuals. We are even known as “The Dave Ramsey” couple in our community. We have led Financial Peace University 2 times now and are planning on our next two classes in the fall.

The moral of the story is that I was worried that we would lose our friends by living frugally and going on a budget. However, the exact opposite happened.

We now have friends that are on their own financial journey and we all support and motivate each other. 

By following these three bible principles; getting out of debt, getting on a budget and creating a community, my husband and I were able to pay off $300,000 of debt in three years. Our marriage has never been better and we plan on buying our first house in cash this year. God works in mysterious ways, doesn’t He?

What bible verse do you think would help you out the most in your financial journey?

About the Author

Raisa is a Christian wife and stay-at-home mom of two. Her aspiration to becoming the best homemaker she possible could inspired her to start a blog. She loves reading books, laughing with her husband and working in her garden.

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