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    Enslaved by Debt

    Enslaved by Debt
    Proverbs 22:7
    Personal debt has skyrocketed in our Western culture. Easy credit, a desire for material goods, and an unwillingness to save and wait have led many people down the path of financial bondage. The Bible doesn’t forbid borrowing, but it clearly warns us of its negative consequences. Our verse today describes the borrower as the lender’s slave.
    Every dollar you borrow costs you a measure of freedom. Your paycheck is no longer entirely yours; a part of it must be set aside to repay your creditor. As the interest adds up, the financial burden may necessitate longer working hours. For Christians, the obligation to repay debt oftentimes hinders the ability to give to
    the Lord’s work or help people in need. Instead of getting the first part, God gets leftovers or nothing at all.
    The consequences of accumulating debtreach beyond monetary issues. The burden of mounting bills creates emotional and relational stress. In fact, financial problems are one of the leading causes of divorce. Even our relationship with the Lord is affected when we let our appetite for the world’s goods override our obedience to biblical principles. Although God promises to supply our needs, how often do we jump ahead of Him and provide for ourselves with “easy payment plans.”
    The next time you are tempted to charge a purchase that you really can’t afford, stop! Go home and ask the Lord if He wants you to have it. If He does, ask Him to provide it. Then wait. True freedom comes to those who rely on the Lord’s promises instead of their credit cards.
    Dr. Stanley

    #2
    Another good one

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      #3
      Bro Bill, I don't know too many 23 yr olds that can pay cash for a house, yet it is probably the best investment they will ever make. What say you?

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        #4
        Excellent post! I’m non mortgage debt free and it feels great.

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          #5
          No doubt about it
          Great message

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            #6
            Excellent post. I wish everyone who is just starting out would read and heed this advice.

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              #7
              Originally posted by SabineHunter View Post
              Bro Bill, I don't know too many 23 yr olds that can pay cash for a house, yet it is probably the best investment they will ever make. What say you?

              This is a good point. Fantastic investment.. but I also don’t know many 23 year olds that need granite counter tops and a 2800 SQFt 4 bedroom house.

              Live within your means and let God guide your financial journey.

              At 24 we financed. At 27 we built in cash, granted our house is small, it was what we could afford. Maybe some day I can build a fancy house like my friends have, but I dang sure won’t be financing it!


              Sent from my iPhone using Tapatalk

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                #8
                Originally posted by SabineHunter View Post
                Bro Bill, I don't know too many 23 yr olds that can pay cash for a house, yet it is probably the best investment they will ever make. What say you?
                Awesome is what I would say..
                I was never taught about money as a child..

                I only in the last few years after starting over late in life found out how important it is to be out of debt.. I have a ways to go at 59 years old..
                but at this point I’m better off than most my age.
                BETTER THAN I DESERVE!
                Be blessed

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                  #9
                  I needed to read this one for-sure!

                  AMEN!!!

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                    #10
                    Great timing. We've been looking at financing a car. Prob don't need to.

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                      #11
                      Originally posted by SabineHunter View Post
                      Bro Bill, I don't know too many 23 yr olds that can pay cash for a house, yet it is probably the best investment they will ever make. What say you?
                      The premise is spot on. Don't get yourself into debt buying depreciating cars and using 25% interest credit cards to live beyond your means BUT...

                      The way money works completely changed in the 1970's after the government decoupled the dollar from gold. Inflation/Deflation and low interest rates have changed the game when it comes to appreciative assets.

                      My parents didn't teach me about money either but I married a smart woman. [emoji4]

                      Sent from my SM-N975U1 using Tapatalk

                      Comment


                        #12
                        Originally posted by bowfishin fool View Post
                        This is a good point. Fantastic investment.. but I also don’t know many 23 year olds that need granite counter tops and a 2800 SQFt 4 bedroom house.

                        Live within your means and let God guide your financial journey.

                        At 24 we financed. At 27 we built in cash, granted our house is small, it was what we could afford. Maybe some day I can build a fancy house like my friends have, but I dang sure won’t be financing it!


                        Sent from my iPhone using Tapatalk
                        Amen to this. Real estate is doing great right now, but that always isn't the case. Granted, you will most frequently make money, but it is laughable how many people forget all the interest (and taxes) paid. I have a friend who bought a house for $800K and sold it several years later for roughly $900K and kept telling me he "made" $100K. There were realtors on both ends and he paid 6%. That is $54K right there. He financed all but 20%. His interest payments ate up everything else he purportedly "made". Granted, his payments went to his mortgage (largely interest) as compared to rent, but the math is not as simple as most people believe.

                        I have stated this before. I was raised by depression babies and was taught, "If you HAVE to finance it, you can't afford it." I wholly believe this.

                        Comment


                          #13
                          Originally posted by bowfishin fool View Post
                          This is a good point. Fantastic investment.. but I also don’t know many 23 year olds that need granite counter tops and a 2800 SQFt 4 bedroom house.

                          Live within your means and let God guide your financial journey.

                          At 24 we financed. At 27 we built in cash, granted our house is small, it was what we could afford. Maybe some day I can build a fancy house like my friends have, but I dang sure won’t be financing it!


                          Sent from my iPhone using Tapatalk
                          You are correct, sir. Extravagance is what is enslaving the masses. I am debt free now and hopefully forever. But, there does come a time or two when borrowing money makes good sense, but not to excess.

                          Comment


                            #14
                            Wife and I are living debt free and it is the best feeling in the world. I like the Dave Ramsey quote, "live like no one else today so that you can live like no one else later."

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                              #15
                              Great post. We have been debt free for over 6 years now and it is nice..

                              The amount of debt that people are comfortable living in these days is mind boggling..

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