Why should you become debt free? After all, you felt that you needed that new car. And of course, your house must have furniture in it. A closet would be useless without a good stock of new shoes and clothes. Of course, you don’t have the money now, but you
A lot of denial takes place when it comes to the subject of finances, debt, responsibility and financial accountability. You may deny that debt is bad. You may deny that you really have debt. After all, isn’t debt just being past due on your payments? Isn’t a loan just a
What is debt? What is a deficit? Do the two words mean the same? We often hear the two used wrongly and completely out of context. In simple terms, we can explain the differences in this way. A deficit is the amount by which a sum of money falls short
If you are going to rescue your life and liberate your future by breaking free from your bondage of debt, not only will you be repaying current debt, but you must also not add any new debt. You ought to consider deciding once and for all that you will not
When you have debt, change is necessary. You must make a decision to change your attitude, lifestyle, spending habits and invest in a new you. When your debts are high and your monthly income is not enough to cover the payments, there are ways to solve your debt problem. However,
When considering a lifestyle free from debt, secular financial understanding is not enough and it becomes woefully insufficient in the long-term perspective. If you only review the practical aspects of your finances and not first understand God’s principles, it will only leave you with holes in your pocket. Spiritual principles
What is debt? Debt is nothing more than borrowing from your future income to buy now what you cannot afford to purchase with current income. The only problem with borrowing money is that you have to pay it back. No pressure on a household is quite like the burden of
Your journey to financial freedom will be an individual one, with your own circumstances dictating much about your plan. Here are a few steps you can use as a guide to map out your own course. A brief explanation will help you understand its simplicity as well as its usefulness.
Once you have listed everyone you owe, determine how much you can pay each creditor and how long it will take to pay back each debt. Generally, it is good to limit the amount of credit you owe (excluding your home mortgage) to no more than 10 percent of your