The Bankruptcy Trap
bankruptcies - men and women financially destroyed by debt - are always devastating.
Bankruptcy is very real. The consequencies can be unreal. Many go into depression. Some even end up tragically. Even for some christians.
Bankruptcy is a result of unpaid debt. Debt,
however, is only symptomatic of the real problem: that is greed, self-indulgence, impatience,
fear, or something else.
we experience problems like those, we try to patch them over with something that
can ease our pain quickly, like drinking, 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 foir avoiding bankruptcy:
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.
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
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.
Debt robs you of the freedom of choice. You have an obligation to repay -
it becomes your number one financial priority.
than using debt to solve our problems - and finding ourselves in greater jeopardy
than before - He invites us to place ourselves in His hands.
Take a financial physical checkup. Establish a finish line. Plan how to get from
here to there.
- a symptom of much deeper problems - keeps us from experiencing His best for
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