Credit Crunch

“The secret to obtaining wealth is to live well within your means.”

I don’t remember who said this, but I remember reading it many years ago.  I suspect that there are many problems in our economy today that were created by people who try to live beyond their means. 

People want things that they do not have the money to buy, so they use credit.  Buy now, pay later.  The problem is that sooner or later, the debt, which will grow substantially,  will have to be paid.  Living on credit is like living in a house of cards, sooner or later, a breeze is going to come up and the house will come crashing down.

That’s what is going on in our economy right now.  The house of cards is coming down all around us.  The government is trying to prop up the house of cards, but there is a pretty strong breeze.

We will have to pick up the pieces and try to build a stronger economy on something other than the unreliable foundation of credit. Individuals, families, and businesses should learn to make more prudent decisions about their spending habits. 

More savings, less credit. 

Buy now, pay now. 

Save some for the future.

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4 Responses to “Credit Crunch”

  1. Ruthie Oberg Says:

    Have you read Wesley’s famous sermon on money?

    http://gbgm-umc.org/umw/Wesley/serm-050.stm

    The point is Earn all you can; Save all you can; Give all you can. It’s hard to get a more simple and wise financial philosophy than that!

  2. Pastor Curt Says:

    Ruthie,

    Thank you for sharing. No, I haven’t read the sermon. Thanks for the link and the summary.

  3. Gloria Says:

    There are a lot of people who want it now but don’t count the cost. I heard that if you had a credit card at $3,000. and paid only the minimum then you would not ever pay it off. That is crazy to me.
    Loved Wesley’s points Ruthie. Going to read it now.

  4. Pastor Curt Says:

    People do not realize the impact of accumalated debt.

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