Let your conversation (conduct) be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee – Hebrews 13:5.
We’re living in a society where you can receive several times each month credit card offers. The offers tell you that you are “pre-approved”. They sometimes encourage you to take a second mortgage on your home.
Other advertisements encourage to buy various products and services. “Easy Credit” is available. Some offer free gifts for applying. Your told, “Buy now, pay later” or “Instant approval, take up to three years to pay”. The average American adult owes almost $5,000.00 in installment credit this is not counting mortgage, rent, and all other expenses. Certain kinds of debt may be appropriate such as people borrowing money to buy a home or borrow money to buy a car. These are necessities, but most credit is often used to buy consumer goods and luxuries, leaving little to show for it except the bill.
People are hoping that their income will increase enough to pay the bills. With the pandemic, racial disunity, and all the disasters that will not be happening soon! Even now, many families live from paycheck to paycheck with little or no reserves for emergency expenses, and a temporary loss of employment would be unbearable. Because of the uncertainties of the economy, as well as our health, it is wise to get out of debt and save a reserve for emergencies.
Paying off debt isn’t easy, but it can be done. It’s not a good thing to think of ” only today”, we should think about our future. You may be young and healthy, but hopefully, you will live to age there will come a time you will not be young neither will you be healthy and you need reserved funds. Secondly, you want to enjoy life as you age, you don’t want debt hanging over your head. You don’t want to have to live in your older aging thinking of what will not be paid in order to purchased food. You don’t want to not receive medical care because you don’t have the money to receive the care you need. You want to be able if you decide at a spare of a moment you want to travel out of the country you can do it, enjoy it, and every bill will be paid with above and beyond enough money left to do what you want. You don’t have to be rich to enjoy living without being over-indebted.
Maybe you’re not making a lot of money, but if you would start off saving $25.00 or $50,00 each pay period, it will accumulate if you allow it to stay in your account without bothering it. As you gain more funds, decide to place a percentage of it in your savings. If you’re always purchasing items, and things, you really don’t need, you can’t save because you’re only thinking about what you want today and not what you want for your future. Saving can be as simple as placing spare change in a jar, you will be surprised by the amount you can save within a year. Enjoy life now, but always think about your future and what you want it to be, then do it!