Stop Borrowing to Fix Borrowing

0% Credit Cards are tempting!

No interest, no pressure, no problem, right? Unfortunately no! Less than 1/ 4th of these cardholders pay off their debt within the free period. That 0% rate is temporary. It’s bait for the undisciplined. The moment the promotion period ends, the interest rate usually jumps to as high as 30%. Now, unfortunately, most people don’t stop using the card. They transfer a balance, feel some relief, and fail to adjust their spending. Instead of paying down old debt, they begin adding new debt. The hole gets deeper and deeper. Especially when balance transfer fees and late payment penalties are added. If one payment is missed, that 0% deal can disappear overnight, but the biggest danger isn’t the interest rate.

0% credit cards encourage people to delay discipline, to deal with it later, but later is exactly when debt tightens its grip on your budget. You see, debt is a heart issue that competes with generosity, peace, and wise stewardship. A better solution is this. Stop borrowing to fix borrowing! Create a payoff plan and live within your means. If you’re in debt, face it honestly and attack it intentionally. Ask the Lord to give you discipline, patience, and hope to responsibly eliminate all consumer debt.

Financial freedom isn’t achieved by ignoring problems. It comes by setting goals, establishing priorities, and exercising discipline. Thank God today for all He’s provided and resolve to begin living as a faithful steward.

And if you’re worrying over credit card debt, Christian Credit Counselors are the best. They can create a debt management plan just for you. For more information, visit online at crown.org/ccc.