By DR. LINDA SMITH
PowerHouse Christian Center
I thank God I grew up before there were credit cards. I can remember the first time my mom got a “signature loan” for $500. She felt so guilty because back then you lived on what you made. It was considered shameful to get in debt by borrowing money. Even ‘lay away’ or ‘by by’, or 60 days same as cash was a mark against a person. There was pride in ‘pay as you go’. This is not a new concept that President Obama created. This is how people actually used to live!
In the latest economic crisis, even people who had a lot of money took a hit when the stock market dropped so drastically. The Madoff ponzi scheme took a lot of fortunes away. In this time, it is the people who are out of debt, living within their means who are going to be better off in an economic crises.
At PowerHouse, we have been teaching Biblical Debt-Busting for a while and introducing people to debt-free living. We have watched as student loans get paid off, huge credit debt gets chopped down and credit cards cut up into little pieces.
Credit cards are a great convenience. We do use one, yes one, and pay it off before the due date each month. Therefore we never pay finance charges. Our car is paid off. We have enough savings to take care of medical bills if we should have them. It’s a great feeling of freedom.
I encourage you, in order to prepare for what surely will be a greater economic disaster in the future, to become the good stewards of which the Bible speaks. Have more saved than you owe. Have an emergency fund. Budget for future purchases. Learn to tell yourself ‘no’ occasionally instead of impulse buying.
If Bible truths don’t do it for you, how about some tried and true wisdom of man?
“Expect the best. Prepare for the worst. Capitalize on what comes” – Zig Ziglar.
“By failing to prepare, you are preparing to fail” – Benjamin Franklin.
“A man in debt is so far a slave.” – Ralph Waldo Emerson
“What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?” – Adam Smith
I can’t promote any certain get-out-of-debt method here, but PowerHouse will be happy to provide information. Just call. We want you free from debt.