How I Fell Into Debt

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I am writing tonight from the beautiful Tampa Bay area.

I don’t know why this even sticks out in my mind, but I remember riding with my dad to play with his company softball team. On the way Dad up and decided to swing into Wal-Mart and buy a new softball glove. It sticks out in my mind, because at the time I could not just swing by and buy anything! I was on a budget. Things were tight, but I was not in debt-yet. My salary as meager as it was did not land me in debt. Looking back it was a thought process that led me into debt. Let me break it down for you.

  1. I am just as good as everyone else, so I deserve what everyone else has. 

I got tired of watching friends buy new cars I could not afford, so I finally got my parents to cosign for me to buy a brand new Subaru Justy with no radio or air conditioning. It was the cheapest new car I could afford and for some reason I thought I had to have a new car because all my friends were buying new cars at the time. Later after making several payments I had a dream I had my old car back, which was old and used but paid for when I had it. While I thought I deserved what my friends had, I failed to realize that things don’t determine your self worth. I also forgot the homeless man sleeping in the alley was just as good as I am. Coveting instead of being thankful led me into debt. The richest person is not the one who has the most. Its the one who needs the least.

2. There is no way I can max out this credit card!

I was in my late twenties by the time I got a major credit card. Now I could get whatever I needed whenever I needed it. It came with a credit limit of $5,000.00. My friends told me to be careful and not max it out. The interest rate was high. I told them there is no way I could max this card out! It has a $5,000.00 limit. I will never reach that! Before the year was over it was maxed out. I was drowning in debt because I was living like I was rich. I finally realized rich people are rich because they live like they are poor. Poor people are poor because they live like they are rich. There are exceptions I know. But it applied to me. If only I had realized my self worth did not come from what I could buy.

3. I Didn’t Realize its Okay to say I Don’t Have Money.

During this time I studied the Bible with a couple my age and we quickly became good friends. I would call them and ask them to go out to eat with me, and occasionally they would say something that I did not know was even possible to say. They would say, “We don’t have the money right now.” I was too embarrassed to say such a thing, but when they said it they were not embarrassed at all. How could that be? Instead when they said it they sounded strong, like they had self-control. Remember the whole reason I got my credit card was so that I could get whatever I needed whenever I needed it. No reason to say I don’t have money when you have a credit card right? Wrong! Too late in life I learned if I can’t afford it I don’t need it. When I would fall behind on bills I was afraid my phone would be cut off. Meanwhile I had friends who’s phones did get cut off. To my amazement and astonishment their lives went on. Yup. If you can’t afford it you don’t need it. Its amazing all the things we think we need that we really don’t!

4. When Using a Credit Card you Still Have to pay for it!

Okay after I share how stupid my thinking was here, you are going to wonder how I was ever smart enough to land a job, and you are going to totally understand why I am still single and no one wants to marry me! Believe it or not I would be in a department store getting something I needed, and I would literally ask myself, yes these are the exact words that would go through my numb skull brain, “Do I want to pay for it or just put it on the credit card?” What and idiot! I was going to pay for it either way! And with interest rates, by putting it on the card I paid for things four times over! Now I know you are not that stupid. But if there is just one person out there just as stupid as me then I hope this saves them from making the same mistake I did. If you save for something and pay cash its all interest free. Why not wait a little while and pay for it once, instead of getting it now and paying for it four times over later? Some things were worn out that I was still paying on!

So there I was drowning in debt, unable to afford things I needed today, because I was till paying interest on things I bought long ago. Here is the kicker. When you are in debt your money is not your own. It does not belong to you. You owe it to someone else. So I was not even donating my own money to the church. It was money that belonged to the credit companies. Let that sink in. If I owed $15,000.00 and got paid $2000.00 a month then each month my money belonged to the credit companies. The money I was spending for food and clothes and even giving to the church was not my own money. My $2,000.00 check did not belong to me. I had already spent that check seven times! Did I still owe tithe? Of course! But I was paying it with borrowed money. That is not returning tithe! That is giving God money you borrowed from somewhere else!

I was in a mess and it was my own stupid fault! Thankfully I serve a God who loves and rescues the most stupid of people!

To be continued……

Proverbs in Light of the Cross: Co-Signing For A Friend’s Debt

I am writing today from the beautiful Tampa Bay area.

I am writing today from the beautiful Tampa Bay area.

My child, if you have put up security for a friend’s debt or agreed to guarantee the debt of a stranger— if you have trapped yourself by your agreement and are caught by what you said— follow my advice and save yourself, for you have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased.  Don’t put it off; do it now! Don’t rest until you do. Save yourself like a gazelle escaping from a hunter, like a bird fleeing from a net. Proverbs 6:1-5 NLT

A friend encouraged me to share his story as a warning for others. His son had bought a nice new sports car. His son got his grand parents to co-sign for the loan which was several thousands of dollars. However the grand parents did not have the money for the debt, but were quite sure their grandson would be able to pay it on his own and establish his own credit. He was a very responsible young man.

Tragically, my friend’s son was hit and killed while riding a motorcycle, when he stopped by the side of the road. Not only did the family have a terrible tragedy to deal with emotionally, but the grandparents who co signed for the loan, were now in dire straits as they had to take over a car loan they had no money for. When they co-signed for their young grandson they never imagined this would happen!

Fortunately God provided. Another family member stepped forward  (Hurray for family!) and covered the loan and saved the grand parents.  My friend, who also happens to be one of my first Bible study students who I am still friends with today, wants to share his story as a warning to others who are tempted to co-sign for some one else’s debt. There are many reasons why Solomon said what he said, and this is one of them. Thank God for saving the dear grand parents from this terrible ordeal.

Romans 12-16; Vengeance is Mine

I am writing today from the beautiful Tampa Bay area.

Dearly beloved, avenge not yourselves, but [rather] give place unto wrath: for it is written, Vengeance [is] mine; I will repay, saith the Lord.  Romans 12:19

I used to read this and think that God meant that He would pay the people back who hurt me, by hurting them back. Recently, while reading this passage it dawned on me that maybe Paul meant it another way. Maybe he meant that God Himself would repay me what my enemy owes me. If someone has stolen from me, whether it be money, or any other blessing, God will pay me back so that I don’t have to get it from the person who tried to hurt me.

Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law. Romans 13:8

The law defines what love is. Love is putting others first. “We then that are strong ought to bear the infirmities of the weak, and not to please ourselves. Let every one of us please [his] neighbour for [his] good to edification.  Romans 15:1-2 If we love others, we will automatically be keeping all the commandments. The first four are about putting God first. The last six are about putting family and friends first.

Now to him that is of power to stablish you according to my gospel, and the preaching of Jesus Christ, according to the revelation of the mystery, which was kept secret since the world began,But now is made manifest, and by the scriptures of the prophets, according to the commandment of the everlasting God, made known to all nations for the obedience of faith: To God only wise, [be] glory through Jesus Christ for ever. Amen.  Romans 16:25-27