Dangers of debt

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

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

Dating your way to debt

Debt for dinner. Credit cards for breakfast. Dating can be expensive. Finding Mr. or Ms. Right is an expensive business. Movies, dinner dates, gifts etc. etc. These are costly items. Try creative ways to limit your spending. Watching the stars. Buying a cheap meal to the seaside or bring along a candlestick goes a long way in keeping your budget healthy.

Needless to say, the Bible discourages debt because it presumes upon the future - and on God. If you are concerned about economic uncertainty, the last thing you want to do is to take anything about the future for granted.

Debt has two primary dangers.

First, debt always presumes upon the future. If you go into debt, you are obligated to repay - yet you take on that obligation without knowing for certain whether you will be able to repay or not. You may enter a relationship in debt!

Second, debt may deny Him an opportunity to work. If you are already in debt before starting a relationship, it becomes very difficult to move on.

Action Item:

If the financial forecast calls for difficult times ahead, you should work to get rid of all debt. To do otherwise is to presume on the future - and that of your future spouse.

Today's Bottom Line

Debt - the flip side of compounding - works against you financially.

Calculate your loan interest as well as your compounding interest with our calculators.

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