Monday, January 09, 2012

Personal Prosperity - Past

Canadian Debt Statistics:
  • The Average Canadian has 3.4 CREDIT CARDS
  • HOUSEHOLD DEBT in Canada is over $1.3 trillion
  • Canadians CHARGED $267 billion on credit cards last year
  • Average INTEREST RATE for credit card is 19%
  • That Means - Canadians are paying $920 in interest
    EVERY month

    (not including interest on their mortgage)
  1. WHY SHOULD I BE DEBT FREE?
DEBT HOLDS US BACK FROM OUR FUTURE:
The Bible says "The rich rules over the poor and the borrower becomes the lender’s slave"  ~Proverbs 22:7

SLAVE means 'a person being legally owned by another, having no freedom'

DEBT IS A SHACKLE!  IT KEEPS US PAYING FOR OUR PAST: BUT HINDERS OUR FUTURE

It’s time to determine "WE WON’T LET DEBT HOLD US BACK OR KEEP US IN LACK!"
  1. WHAT DO WE DO ABOUT DEBT?
"Pay all your debts, except the debt of love for others. You can never finish paying that! If you love your neighbor, you will fulfill all the requirements of God's law." ~Romans 13:8

DEBTS are something you are obligated OR bound to pay OR committed to pay

PAY means 'to satisfy in full'

GET OUT and STAY OUT of debt
  1. Decide to Give to God First
Malachi 3:10 tells us "Bring the WHOLE TITHE (10% of what comes into our hands) into the store house that there would be meat in my house. Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it."
  1. Determine No New Debt
"The Lord will make you the head and not the tail, you will only be above and not beneath" ~Deuteronomy 28:13

Important KEY: LIVE WITHIN YOUR MEANS!
  1. Develop a Plan
"The plans of the diligent lead to profit as surely as haste leads to poverty." ~Proverbs 21:5

YOUR PLAN:
  • Know what you Owe
  • Pay a little every day
The Bible describes being DEBT FREE as a BLESSING:
"You will receive this blessing if you carefully obey the commands of the LORD your God that I am giving you today. The LORD your God will bless you as he has promised. You will lend money to many nations but will never need to borrow!"
~Deuteronomy 15:4-6

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