* Proverbs 22:7- Pay off your debt as soon as possible All of us would love to live a debt free life. This verse states - "The rich rule over the poor, and the borrower is slave to the lender." Once you have a considerable amount of money in hand, it is recommended to clear off your debts as soon as possible. Begin with smaller debts and initially and later move on to the heavier ones. The lesser the debts, the more motivated you are to stick to your financial plan.