Are You Misusing Money Part 2
It’s easy to misuse money.
One misuse involves Private Mortgage Insurance or PMI. It enables the purchase of a home without 20% down. It’s expensive, it’s not tax-deductible, and can be a real challenge to cancel. Aside from saving for a 20% down payment or buying a less expensive home, a mortgage professional can possibly help you review other options. Do you have a storage unit? One in five Americans do. The average monthly rate is $128. They’re expensive closets – though acceptable on a temporary basis when moving or remodeling. The most popular stored items are furniture, then clothing. Then, appliances and equipment, sport and hobby gear, vehicles, RV’s, boats, business items, and more. Besides the monthly fee, people pay for insurance to cover this stuff.
Have you ever fallen for a get-rich-quick scheme or a scam? People ignore common sense when con artists promise opportunities with unrealistic returns. Beware promoters of “once in a lifetime” opportunities or those with a sense of urgency. Exaggerated language, guaranteed income, or the requirement to recruit people to earn more money are red flags. So are deals where financial details are missing or questionable. Beware jobs that require money upfront, or promised results with no skill or experience required. If things sound too good to be true, they probably are! So seek and trust the Lord. He’ll help you steward money with wisdom.
Now I invite you to join us at Crown’s 2023 Reunion. We’ll gather October 12-15 at Ridgecrest Conference Center near beautiful Asheville, North Carolina. For more details and registration, go to crown.org/reunion.