Today we have a guest writer! TQO one of our TLC friends wrote this as a help to everyone who reads this blog. Enjoy!
Play Now-Pay Later vs. Pay Now-Play Later. One way financially binds you vs. the other way financially Frees you. It’s your choice. Because Money does matter… to God, to you, and to me. You want to be in control of your finances, not your finances in control of you. Don’t get buried in “interest”, “contracts”, “termination fees”. Every decision matters, even the cell phone and cable. It is easier said than done. It takes hard work, commitment, planning. I call it “Diligence”.
Lenders & credit card companies will qualify you for more than you can afford, appealing to your “I want it now” need. They are setting you up to fail, in order to make their sale. In the long haul, it may have been better for you to have waited until you could have saved more. It is up to YOU to create your own limits.
My husband and I agree on our monthly budget log. It begins with
I Cor. 4:2 “Moreover it is required in stewards that a man be found faithful”.
We then list the 1st paycheck date of the month and the bills to be paid from that, and then the 2nd paycheck date of the month and the bills to be paid from that. We then include any special extras and any big expenses for that month from our “goals for the year” log. We plan the best we can, and leave room for unexpected emergencies.
We’ve tried teaching this to our teen class, but their mind set is on Play Now, Pay Later. The advertising companies are smart to capture this age bracket. Our teens seem to understand they could be paying up to 3times as much for the same item, but for now they just shrug their shoulders as if to say, I’d rather have it now anyway.
Back when I was young and naive, I found myself responsible for over $16,000.00 in credit card debt. It was not my fault, but I had to take action to protect my credit. Praise to the Lord, that debt was paid in full in 9 years, and not one cent to interest! I received 0% interest applications with zero balance transfer fees as needed until it was done! I am now free and loving the financial freedom!