The TRUTH about Debt. :(
Marg's Thoughts
- Posted:
4/8/2009
Every person in this world has Debt. I think. It is dumb. :( But, who wouldn't be in debt? Everything in this world revolves around money.
I read an online article about debt and the truth behind it. (www.daveramsey.com) Read below the article.
Myth: Debt is a tool and should be used to help create prosperity.
Truth: Debt isn't used by wealthy people nearly as much as we are led to believe.
Debt is dumb. Most normal people are just plain broke because they are in
debt up to their eyeballs with no hope of help. If you're in debt, then you're a slave because you do not have the freedom to use your money to help
change your family tree.
According to a recent
USA Today article about debt, 78% of Baby Boomers have mortgage debt, 59% have
credit card debt, and 56% have car payments. It takes a lot of
will, discipline, courage and help to slay the debt monster.
But it can be done. Imagine how much you could put toward retirement if you just didn't have a stinking car payment? This is how the wealthy really build their wealth. Debt is dumb. Welcome to the real world!
According to
Proverbs 22:7, "The rich rule over the poor, and the borrower is slave of the lender" (NRSV). I was confronted with this scripture and had to make a conscious decision of who was right - my broke finance professor, who taught that debt is a tool, or God, who showed the obvious disdain for debt. Beverly Sills had it right when she said, "There is no shortcut to any place worth going.
-- just sharing the article --
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