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,
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
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
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
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
Luke 14:28-30 “But don’t begin until you count the cost. For who would begin construction of a building without first getting estimates and then checking to see if he has enough money to pay the bills? Otherwise he might complete only the foundation before running out of funds. And then
Are You a Borrower or a Lender? – Part I Let’s contrast a real-life scenario of the borrower versus the lender that happens tens of thousands of times every day. A person walks into an auto show room and falls in love with that new car or truck that has
Are You a Borrower or a Lender? Part II As mentioned in my previous blog, you have two choices. Here, again, are the two choices: 1) making vehicle loan payments 2) taking that very same payment and investing it in the equity market yielding average equity returns over the past
Are You a Borrower or a Lender? Part III Here are the details for your review Vehicle Loan Cost of Vehicle: $30,000 Invest Instead Interest Rate: 12%