A Good Rule For Borrowing Never borrow to buy depreciating items. Things such as new cars, furniture, clothes, appliances, boats and luxury items should not be purchased until money is available to pay for them. Don’t borrow to go on vacation, to invest in the stock market, to get married, to keep up with the […]

Borrow Money with the Right Intentions It is not wrong to borrow money, but it is wrong to take on debt without the ability to pay it back or with the intention of never repaying what is owed. What is meant in Romans 13:8 when it says not to owe anything to anyone? “Obey the […]

It is always wise to borrow less than more.  Cultivate the mind-set that you will borrow only for absolute necessities, and that you will repay the loan at the earliest possible date.  Paying back a larger amount than the required fixed payment will help you retire the debt early.    For what things should you […]

Loan consolidation, home equity loans, or refinancing your home are ways to avoid repossession or loss of income through wage garnishment.  These options may reduce the amount of your monthly payment.    However, the cost for borrowing is usually increased, because the borrowing time is extended and you may be borrowing at a higher interest […]

Many banks and credit card companies urge their cardholders to buy protection for losses that occur if their cards are lost or stolen and used by someone else for about $25-$100 a year. Many don’t know, however, that federal law limits cardholders’ liability for unauthorized charges to $50 and then only for charges made before […]