In John 12:35, Jesus said "he who walks about in the dark does not know where he goes". You may desire to reduce and pay off your debts, but without clearly seeing where your money is spent, you do not know where you are going and you will likely fall off course.
I feel the #1 scripture to follow in becoming debt-free is found in Proverbs 21:20 - "There are precious treasures and oil in the dwelling of the wise, but a self-confident and foolish man swallows it up and wastes it". How do we avoid wasting our finances? I feel that the #1 first step to take is recording and reviewing your spending.
It is only by knowing where your money is being spent that you can be aware of what specific areas are taking you off the path and being in the place of Proverbs 21:20, where the wise person was simply spending less money than they made.
When I had my first full-time job, I was frustrated at how little money I was ending up with. I wrote down my known expenses on a Post-It note, and then kept track of more. It was the most important step I took, because it was like an X-Ray showing what was going on, and how much of a bite certain categories were taking. It was only then that I could make some choices to get where I really wanted to be... and you can too.
Many options are available for tracking spending, from carrying a notebook, using cash and envelopes (for the problem categories like food and entertainment), logging a note in your phone as you make each purchase, to sophisticated free apps like Intuit Mint - and pay apps such as Clarity Money and You Need A Budget, which can easily pay for themselves.
If you will be logging your own purchases and you use a credit/debit card for most of them, you can go online and see your updated statement in real-time, not having to wait until the bill arrives.
Proverbs 27:23-24 instructs us, "Be diligent to know the state of your flocks, and look well to your herds; does a crown endure to all generations?" God is telling us to know the state of our finances and not be passive. The word diligent refers to continuous action, being persevering and careful to your work. After all, this is money you've labored hard for to earn in the first place, and knowing well how it's spent is important.
And lastly, God gives us one of the finest and clearest illustrations of what takes place - "Thy Word is a lamp to my feet and a light to my path". (Psalms 119:105)
God Bless you and may He show Himself greatly to you,
Paul
