Are You Misusing Money Part 1
Are you misusing money?
The misuse of money is all around us. People are financing new cars. Many sacrifice giving, saving, and investing to borrow an average of $41,000 on new vehicles. Payments hit a record high of $725 a month in the first quarter of 2023. Auto loans are the 3rd highest for of debt, surpassed only by mortgages and student loans. If financing is necessary, find a dependable used car, with low payments, then apply the difference you’d pay on a new one to an automobile fund. That money will fund your next car purchase.
Another way people enslave themselves is by buying a home, then upsizing and downsizing. Warren Buffet bought his house in 1958 for $31,500 and he still lives there. The 1921 home, five minutes from his corporate office, is worth about $1.2 million. He’s remained content with his purchase. My wife’s sister and husband bought their modest ranch home 40 years ago. They never upsized, even with four children, and they have no need to downsize now. As a result of simply staying put, they were able to put their children through private schools, and consistently give, save, and invest. Use money wisely by asking the Lord for His wisdom. Abiding by His financial principles will enable you to experience true joy and peace.
And if you’re suffering from overwhelming credit card debt, let Christian Credit Counselors help you. They can create a debt management plan specifically for your needs. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.