Proverbs 22:7b "... the borrower is servant to the lender."
In the late 1980s, I had a credit card debt of $388. It tore me up! I had been reduced to a minimum wage job that barely met my living expenses, and that debt haunted me! I married, and the debt became worse. Like a person who gains excess weight gradually, I didn't notice that my step was sluggish, nor that my energy levels were suffering. Debt seemed natural and a part of life.
My heart knew better. Sometimes, the light would shine and we'd pay off most or all of it. Debt-freedom felt good, but never seemed to last. There was always one more shiny object to have. When he was taken in September 2010, it took me just six months to pay off the last penny of about $70,000 worth of debt. I was finally debt-free.
After two full years of continuous freedom from debt, I must say that it feels great. I don't have to rob Peter to pay Paul. I don't have to do the credit-debt shuffle. Over the weekend, I heard that again credit card companies were starting to apply fees for using the cards, so immediately, I switched my Debit card use to debit only. Why pay for something I don't really need?
Modern, worldly wisdom comes up lacking again. Use a mortgage to buy a house, but become homeless when the economy shifts? Everyone needs a college education to make 'real' money, but how many college grads are working in their chosen fields? How many are working?
God knew, and still knows more than any man. Buying a home is not bad; getting an education is not bad, but are they the answer for everyone in every situation? Obviously not. Here is my point:
If one is not able to pay for something outright, then something is wrong. Don't go into debt.
Proverbs 22:26,27
Be not thou one of them that strike hands, or of them that are sureties for debts.
If thou hast nothing to pay, why should he take away thy bed from under thee?
God is more reliable than money.
I got my first credit card late last year. I'm not sure I'll ever use it. I figured I could afford to have one as a back up for sudden emergencies. The credit amount is set fairly low, so that if I ever should chose to use it, I would have no problem paying it off quickly.
ReplyDeleteI have heard countless stories of how bad things can get when you choose to go down that road. I'm glad both hubby and I never dared get one.
We did it the slow hard way. We worked and saved. We didn't have many vacation trips when the kids were younger, but we did have a mountain farm. The kids could bring friends with them and even if there were no internet or computers up there, there were always things for them to do. It was enough.
We've finally reached the place when we see the results of our work.
We have debt/mortgage. we own two houses, but we also know that if we need to, we can sell one of them and not only be completely debt free, we'll have a nice amount extra left.