Personal Bankruptcy

Credit Cards
Today we all tend to use terms like "credit", "debt", and "borrow" almost as if they are the same.

Home Loan
When considering the purchase of a home, we should apply the four criteria as for undertaking any debt loan.

Debt Consolidation
The financial area of debt is clouded with more emotion, misunderstanding, and poor teaching than...

Marriage and money

It is estimated that 90% of all divorces are a direct or indirect result of money -husbands and wives and families financially destroyed by debt - is always devastating. Many even end up tragically.

When we experience problems like those, we try to patch them over with something that can ease our pain quickly, rather than trust in Him and rely on His provision. But that only feeds the root problem. It never solves anything.

Here are some tips:

1. Compounding works against you. Compounding can enlarge your investment amazingly over time. But the same principle can work against you - when you're the one who must pay the growing interest.

2. Getting in debt is easier than getting out. If you're overspending by $1,000 a year, then you must not only stop overspending, but also start paying it back with interest. That's difficult. But it can be done, little by little over a long time.

3. Debt mortgages the future. Because of the interest payments you must make, you are sentencing yourself to a lower standard of living in the future.

4. Debt robs you of the freedom of choice. You have an obligation to repay - it becomes your number one financial priority.

Rather than using debt to solve our problems - and finding ourselves in greater jeopardy than before - He invites us to place ourselves in His hands.

Action Item:

Take a financial physical checkup. Establish a finish line. Plan how to get from here to there.

Bottom Line

Debt - a symptom of much deeper problems - keeps us from experiencing His best for us and our families.

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