Understanding Credit

America as a people have come to accept what was never intended when thinking about credit. I believe a renewed sense of balance needs to be restored so that we as leaders of industry and our families need to teach the truth about credit

The Five Truths of Credit

1. Credit Means You Cannot Afford It. If you could afford it, you would not have had to use credit. Though have available and unused credit is prudent to take care of any emergencies that might occur. Credit should never be a lifestyle.

2. Credit Means You Are Imprisoned. You have two choices when it comes to finances. You can either control your money or you can have money control you. Make money your tool and not your god.    Matthew 18:30 “But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt.

3. Credit Limits the Joy in Your Life. Whether it be life, financial, business or in your marriage, having too much debt is a detriment to living in the joy of Jesus Christ. Marriages, families, lives and business owners have all met with financial doom as a result of excessive debt.  Habakkuk 2:7  Will not your creditors suddenly arise? Will they not wake up and make you tremble? Then you will become their prey.

4. Credit Impairs Your Life. When you have debt, you are a slave to the lender. You are limited in your ability to make prudent future financial decisions when they come along as you have mortgaged your future and impaired your assets, both in your ability to sell and to use. Matthew 18:25  Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt.

5. Credit should be a Tool; Not a Lifestyle. There will be many times in your life that you will absolutely need to use credit as a tool, such as in buying a home. But you should never use more than you need and you should always use less credit than others are willing to grant. Financial crises from job loss to the economy will always occur. Therefore it is essential and critical that you are sure to live well below your economic needs. Only in that way will you be able to weather the storms of monetary uncertainties.

Money is mention 113 times in the Bible and is important as the Bible is God’s inerrant world. As he mentioned it so much he knew its importance. Let the joy of Christ be with you as you seek to eliminate the debt, killing the credit that seeks to ruin you.

Romans 13:8  Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.

In the Matchless Name of Jesus Christ