Ask Chuck: Alternatives to Payday Loans
Dear Chuck, I drive past those Cash Advance and Payday Loan places just about every day but had never paid much attention until one of my friends got in financial trouble. She had just lost her job and was behind on rent so she went to get an advance and it ended up being a […]
Ask Chuck: Should Children or Parents Take On Student Debt?
Dear Chuck, We have a son graduating high school this year and are trying to make plans for his college years. While he’s done an excellent job applying for and receiving scholarships, taking AP classes, and CLEP exams, we will still have to take out student loans. My question is who should take out the […]
Why Financing is the New Layaway…and What the Bible Says About It
Do you remember “layaway”? If you’re unfamiliar with the process I’m referring to, “layaway” was an option many stores offered if you couldn’t afford to pay the full price of an item. The store would hold the item for you as you make payments towards it, usually for about 3-6 months. When you had […]
6 Money Myths You Need to Stop Believing
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text] There are many misconceptions and myths about money. Many of them are completely untrue, but some are more untrue when you look at them through the lens of a faithful, biblical steward. Here are some of the top […]
Collecting Debts From Friends
Originally posted on the Christian Post on June 2 To learn Biblical answers to your financial questions, you can #AskChuck @AskCrown your questions by clicking here. Questions used may be lightly edited for length or clarity. Dear Chuck, About 9 years ago I loaned an acquaintance I met at church a substantial amount of money, with […]
What You Need to Know About Being Threatened by a Debt Collector
The Consumer Financial Protection Bureau recently reported than 1 in 4 consumers felt threatened when contacted by debt collectors. They experience collectors calling too often, at odd hours, and warnings of jail time and other frightening threats. Some were being hounded for debts they did not even owe! Many complained that the collectors ignored requests […]
4 Principles for Borrowing Money
Borrowing is not prohibited scripturally, but neither is it encouraged. It is always presented as a negative with many warnings about its danger and misuse. Here are fundamental Biblical principles related to borrowing. Avoid borrowing unless absolutely necessary: Borrowing should not be a way of life but the exception. Only if there is no other […]
The Good, the Bad, and the Ugly of Reverse Mortgages
Originally posted on the Christian Post on September 30. Dear Chuck, My elderly parents are considering a reverse mortgage because they are struggling on a fixed income. Is that a good idea? Could it do more harm than good? Worried for Mom and Dad Dear Worried, I share your concerns about reverse mortgages, called “the ugly […]
5 Things You Should NOT Use Debt To Pay For
We live in a culture where debt is assumed to be essential for everything. The Bible tells us that the borrower is a slave to the lender so we should be vigilant in our efforts to avoid becoming financial slaves. Here are the things I would not use debt to purchase: A Car. Financing something […]
How to Lose a Car and Not Your Credit Rating
Originally posted at Christian Post September 9, 2016. Dear Chuck, What are the rules when a bank repossesses your car? Do you still have to pay them what you owe and can they garnish your wages for payment? I have a friend who has just turned her life over to Christ and over the years she has […]