Slavery
Archive Spotlight: I thought it would be a good idea to start spotlighting a couple of posts that are buried in the archives. Some of you are fairly new to this site and others are lifelong followers (you are, aren’t you?). No matter what category you fall into, I’m sure there’s at least 1 article here you haven’t read. Enjoy and feel free to leave a comment or two.
7 Tips on Becoming the Master over Debt
Did you know that debt = slavery?
If you have any amount of debt then money becomes your master and you become the slave. You’ll work tirelessly for the slave master day and night just to get him off your back. Whenever you “buy” a car with your good credit he’ll crack you on the back with his whip. When you put those new clothes and shoes on the charge card he’ll rape your finances and steal your joy (It’s that critical of a situation). It’s hard to accomplish your goals, grow your business, and enjoy your life with a mountain of debt looming over you. According to Hoffman Brinker and Roberts’ credit card debt statistics;
Americans have conflicting attitudes about debt. While 91% believe debt can be controlled by disciplined saving and spending, 72% also believe that debt is a part of modern life and difficult to avoid.
Can you believe that 72% of Americans believe that debt is just another part of life? That’s interesting because according to the Bible, it says that God will bless us as He has promised. Read the scripture below;
Deuteronomy 18:6 says,
“For the LORD your God will bless you as he has promised, and you will lend to many nations but will borrow from none. You will rule over many nations but none will rule over you.”
Don’t you believe that? Isn’t it time you got out of the rat race and really got what God has for you? If you’re ready, then open your heart and receive words of knowledge from Dave Ramsey, financial freedom guru. Dave outlines several great tips on managing your debt and ultimately becoming debt free in the short video below.
As entrepreneurs, we have to exercise patience and self-control in our spending and maximize what we already have. Don’t let debt become your master. And if he already is, then declare your freedom today and follow the tips Dave outlined in the video above. I am currently utilizing the envelope system that Dave mentions in this video and it’s bringing me some great results. What are some other tips, advice, or techniques that we all can use to help manage our finances and eliminate our debt? Sound off in the comments below!
Update: 11/24/09: I’ve also started to buy my lunch for weeks at a time and cook it the same day I buy it. It’s saved me tons of money and time. Also, paying for things with cash only has helped out a great deal, but sometimes I fall back and swipe my debit card. I’m working it out though!
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About the Author
Rod
My system won't allow me to watch the video, but I have enjoyed this article very much. Quite helpful. A lot of food for thought. Wish I had some tips to give, but I don't. In a position now where there isn't enough coming in. I'm consistently trying to help and generate an income of my own so that we can see our way. As tough as it is, I am thankful however that we're not plagued with credit cards and the like.
Hey, Carla, glad you found the article useful. If you're having difficulties viewing the video, make sure you have adobe flash installed for your browser. (http://www.adobe.com)
You are among lots of other people who don't have enough coming in. But I have faith that God can and will provide you with the tools necessary to generate more than enough to keep you and your family from turning to credit cards and debt.
Follow your passions and pursue them diligently…the money will come as a result.
My system won't allow me to watch the video, but I have enjoyed this article very much. Quite helpful. A lot of food for thought. Wish I had some tips to give, but I don't. In a position now where there isn't enough coming in. I'm consistently trying to help and generate an income of my own so that we can see our way. As tough as it is, I am thankful however that we're not plagued with credit cards and the like.
Hey, Carla, glad you found the article useful. If you're having difficulties viewing the video, make sure you have adobe flash installed for your browser. (http://www.adobe.com)
You are among lots of other people who don't have enough coming in. But I have faith that God can and will provide you with the tools necessary to generate more than enough to keep you and your family from turning to credit cards and debt.
Follow your passions and pursue them diligently…the money will come as a result.
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Great tips, and very timely given the amount of debt that many consumers will rack up this holiday season. Debt gives an illusion of wealth and freedom, but often brings about financial slavery.
I absolutely hate debt and things like credit cards that exploit it. The best tip from Dave Ramsey for me is, “if you can't pay for it with cash then don't buy it!” And I'm sticking to it!
Great tips, and very timely given the amount of debt that many consumers will rack up this holiday season. Debt gives an illusion of wealth and freedom, but often brings about financial slavery.
I absolutely hate debt and things like credit cards that exploit it. The best tip from Dave Ramsey for me is, “if you can't pay for it with cash then don't buy it!” And I'm sticking to it!