4 Money Mistakes: #1 – Get Rich Quick Mentality

Four money mistakes can affect your ability to save.

It’s easy to fall into bad financial habits. I want to address 4 of these over the next few days. If you recognize any in your own life don’t ignore them. Just cknowledge them, and ask God for wisdom to work your way out. The 1st mistake is allowing a get-rich-quick mentality to govern decisions. Never risk borrowed money. If investing in get-rich-quick schemes was only limited to available cash, most people would be far more cautious. Like purchasing consumer goods on a credit card, it’s easy to justify borrowed money to invest, especially if the return is said to be “guaranteed.” Speculating on the future is a practice in surety, which the Bible warns against. It’s also presumptuous. No one can rightly predict what will happen in the country’s financial markets over the next hour, much less the next few months or years. Borrowing money to speculate on the future is both unwise and dangerous. It places the borrower in a position of potentially losing everything.

Christians are particularly vulnerable to being tricked by get-rich-quick schemes. They tend to trust people who call themselves Christian, especially if they claim to have a special revelation from God. My advice is to stay with what you know. Don’t invest until you thoroughly investigate the product, company, and person presenting the offer. Make no hasty decisions. Always wait at least one full day and earnestly pray before making any investment.

And f credit card debt limits your ability to save, I recommend Christian Credit Counselors. They can create a debt management plan that works for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.