Blog Archives

Creating a Debt Payback Plan

If you’re in debt, it’s tempting to think that simply borrowing just a little more will solve your problem. Today Crown’s founder, Larry Burkett, says that becoming debt-free actually takes a lot of work!   If you’re struggling with credit card debt, and unable to give as you desire, I recommend Christian Credit Counselors. They […]

Use Credit Cards Wisely

I grew up in the age before credit cards. We used layaway or we saved until we could pay cash for purchases. Today, credit cards have become a way of life. You can avoid trouble by remembering Proverbs 22:7 – “The rich rule over the poor, and the borrower is a slave to the lender.” […]

Pay Off Debt – Improve Your Credit Score

Want to reduce debt in the new year? The average millennial carries nearly $5,000 in credit card debt. So, the decision to pay it down has a significant financial impact. You avoid the cost of high interest that accrues when carrying a balance on your card month after month. Reducing your credit utilization rate boosts […]

Savings Day – No Debt Christmas – No Interest

Eliminate interest payments to save more. At the end of October, credit card interest rates were around 16%. Now, that’s crazy. One way to build savings is to stop paying credit card interest each month. How? You start paying off your cards in full. Every month. You think that’s impossible? Just pick a method and […]

Record Credit Card Paydown – 1st Half of 2020

Need some hope? WalletHub’s Credit Card Debt Study reports that Americans paid down a record amount of credit card debt during the first half of 2020. The greatest reduction occurred during the 2nd quarter of this year, largely due to unemployment benefits and household spending cuts. A WalletHub analyst said: “It may seem counterintuitive that […]

Signs of Financial Instability

Are you financially unstable? A recent survey revealed that 63% of those employed before the pandemic lived paycheck to paycheck. When job loss occurred, financial instability reared its ugly head. Perhaps you know the pain. • You’re stressed out and losing sleep. • You don’t have an emergency fund. • You’re maxed out on your […]

Monopoly and Debt

We play Monopoly at our house and we’re competitive! A number of years ago, we did an experiment with Monopoly. Players could borrow money from the bank at zero-interest and create as much debt between players as they wanted. Since nobody could go broke the game went on and on and on. Property prices got […]

Minimum Payments

Making minimum credit card payments? If you are making minimum payments, the lowest required payment shown on credit card statements, it can help preserve cash, but it’s expensive, limits freedom, and creates stress.  Call your lender, assure your desire to pay, and negotiate better terms. If you have a decent credit score, you can transfer […]

Raising Credit-Smart Kids

What do you hope your grown children never do? Well, I can think of a lot of things, but some of you might say financial mistakes that involve credit. A Biblical understanding of money starts when children are young. One of the most important lessons is saving.  Teach them to exercise self-control and to make […]

New Credit Card Debt Record

Are you struggling to pay off credit card debt? Credit card delinquency rates recently rose to the highest in nearly eight years. It’s a real problem, and it’s only growing! Millennials experience rent, home prices and college tuition increasing faster than incomes. They’re burdened with student debt and rely on credit cards. Their financial woes lead […]