Managing Debt

The Salvation Army you're listening to wonderful words of life will come back to wonderful words of life. I'm Bernie, Dick and my guest is Cheryl and she's no longer a guest she's our host and were glad that you're here Cheryl, thanks you know we been talking about the very real pandemic is going on around the world and there's been so many great stories of heroism or people doing very generous things but I'm really excited about some of the benefits that have come out of this meeting.

For instance, the there's a company called Zoom that enabled parents and grandparents and great-grandparents to be online and properly social distance than see each other and just catch up but I was talking to Cheryl and her husband Tim the other day and that there's something to this, this for you guys to write so this for a long time now with our kids. We have a nonnegotiable and are houseware at night. We pray together and during this pandemic denies I've been trying to listen for the Lord's voice actually felt him leading us to expand that because we usually do it with just those warehouse but you have two adult children who are in Maryland and so because of technology were able to connect with them every night and we've expanded a little bit more than just a prayer time we actually go around and we've assigned knights to everybody in regards to give Vanessa and Encouraging Word that that the Lord to show them during the day and then we have a part time.

We pray for ourselves. We pray for others and it's just been an uplifting time and and again you know something that I probably are.

I might not have thought about prior to the pandemic but just expanding that allowing our whole family to have this time together in prayer has been just a blessing. I'm encouraged by the other one is say to our listeners that the being intentional has been a very important part of for me dealing with the stress of and the anxiety of everything that's going on around me and I just pray that that's that you're able to find something from the Lord each day.

You know it, particularly for someone who is been able to work from home or shelter in place, there's no commute anymore and that's time that you've got back to really then reinvesting yourself dig into God's word dig into your relationships and be intentional.

In particular, we hope you've been enjoying the series and we hope that you've already taken something away from Mike Harris's advice that it helped bring some peace into your finances. Last week we started talking about debt and primarily how to avoid it. However, you may be listening to this and thinking well I had that now.

So what now again no condemnation about any of these topics God meets us where we are. So today Mike and I discussed some of the best practices on how to relieve the burden of debt and like we said last week. Learning to live within her means is one of the best weapons against getting in over our heads, but Cheryl that can be a difficult thing to do at times it really does because sometimes our desires outweigh the wisdom that it takes to manage those resources that we've been given and that and about you, but I've learned a lot of lessons throughout my life in regards to what not to do and God still teaching me well for me keeping it that related my I have been the assigned task person for grocery shopping. Though the other day I went to the grocery store with the list for the people living in my home so we could continue to cook meals and when I saw the sales on the two furs. I mean, I immediately diverted from my list and went after the sales which was probably not the smartest thing because you know that that's being compulsive and I'm seeing something I wanted and I think I shouldn't do this but I think particularly men are visual people. They see a sale and they're drawn to go spend that money is money that you really could've saved so again just encouraging you to live within your means. Usually, the main reason any of us live beyond our means is the comparison trap keeping up with the Joneses is a real challenge for a lot of us. It's hard not to compare our finances with others. However, I read a great article by Dave Ramsey recently, and his advice is to stop trying to live like the Joneses and instead live like no one else. It's really hard to do.

Knowing that, I mean, when we see commercials on TV about taking amazing vacations and then you hear of your friends that are not just come off of a cruise or whatever, but this time has done is really been beneficial and kind of being introspective and in its it's forced us to kind of come back to reality because we don't have the means now personally can go anywhere right, but then second of all do our route. I don't really have the money to do that and it might be best if I hold often and again use wisdom and how I plan my extra curricular activities and the dangerous thing is all of us are now seeing commercials from very wise marketing companies like car dealerships who are offering you a brand-new car with no payment for six months will that sounds great but what you're doing is putting yourself into debt for six months of really insecurity you don't really know what tomorrow holds terrain it be better to just gonna wait this out. I pull your finances together and then jump into something when you're right it's really retraining our thinking that newer is not better when again we hope you're enjoying the series.

Make sure to follow us on social media. As will be posting these articles and surveys and we love to hear from you share some advice you've learned, or share your prayer request email us at radio at USS.Salvation Army.for, or call 1-800-229-9965. Welcome back everyone again a privilege to have our friend Mike Harris with us. I hope you're thinking of them even though friend use a child of God who brings great what I perceive as great wisdom from his own life experience. Talk about finances.

Last week we were really getting into the idea of debts being consuming people. Given that from the fear of missing out or just consumerism. You know, they would have been the next best thing. The next greatest thing Mike when we've got that mountain of debt just sitting on top of us. How can we tackle what is, what are some principles that we can use to begin chipping away at that that posting is a change your habits habit was created that we can talk about that consolidation will explain the area, but I am very wearable.

That is the biggest fan of it because what that consolidation does is it doesn't necessarily lower the interest rate that you be paying it does elongate the period of time, though it does bring down the payments would be. So, although I would say that's something to look at. I'd say that's almost a lost result to you like the idea of debt elimination exactly exactly amounts where I mention this in a previous episode with your working on the budget comes in reinvent your budget based on what you need to get that debt paid off and I know that seems almost insurmountable. But you didn't get here in the day that we will get out of it.

The key is reevaluating changing habits and starting right now the way for this to wait for next month. Rule six months from now. Could you got events happening start right now could be trying to be tough but if you put it into God's hands and only him and his a big thing and pay him his tent footsteps with faith is faith in tithing is paying it. Paying it lost is not faithful because if you pay lost it will get paid if you do that and really work within that budget will find yourself making headway. It will take time it will be fixed in the day trouble. Let me buddy tell you a few more pounds are we only go on a diet off the three days of the diet are start to wonder why am I not seeing a difference with no other and get this way when not so well serving as the big keys is changing your habits and getting in there for the local one of principles that my wife and I discovered early on as to what when you accumulate may be multiple forms of debt like in the United States that you know your visa, MasterCard and American Express back in the day, not everybody took American Express.

The fees were greater so we had. We were given a bank car that had a MasterCard symbol on it and you could use it as a debit card so you could only spend the money that you had, but the credit card would allow you to make purchases that maybe you didn't have the money for right then and over time you would pay off those purchases well then we got another credit card because we bought a car that came with the credit card of some sort and we discovered before we knew it we had three different credit cards.

One was a debit card and we needed to pay these things down and someone shared with us. This idea that if you focus you pay what you you Actually have to. Of course, so you don't get into anymore trouble.

But then if you can begin to pay a little bit more on one just focus on one and get it out of the way. Then take that money that you were paying on the one what it's gone and apply it to the next one. It'll be a much quicker way to get that that eliminate absolutely and start over again changing your habits is Mike Sardi mentioned but you've got to arrest the idea that you need it now. You need it.

You can't live without it. The truth is, you can when you begin living within your means there's a freedom that exists is a joy than in the times that you do celebrate with other people or where you feel you can be generous and maybe buy a meal or do something kind toward someone else or even come alongside a ministry opportunity surrender money that you might have otherwise spent frivolously on something else. I appreciate the idea Mike that for you. Consolidation is different than elimination that's important for the listeners to understand because as you said it really just elongates the payment does bring it down but you're still paying overtime were as if you can eliminate the debt then your you're really getting to the crux of her or perhaps the a better foundation for you to the springboard into the new practice of your life. The new habits of your life if it were just eating it would be eating well but were talking were really talking about spending and getting ourselves and in that trouble if you are someone who needs wisdom or advice I would tell you that there are so many resources out there. I'm especially interested in you looking for Christian resources and that we mentioned last week. Some of that I have found help from in the form of Dave Ramsey start right toe to grips with the specialist yeah it's a great way to start there.

It it's unbelievable the age that we live in today, technologically. There's so many great opportunities for us to learn from each other. Iron sharpening iron if you will like.

I'm grateful for your ministry to us as the wonderful words of life crowd and I hope that you'll come back next week and learn even more about financial freedom from Mike Harris. The Salvation Army's mission doing the most good means helping people with material and spiritual needs. You become a part of this mission every time you give to the Salvation Army visit Salvation Army USA.org to offer your support and we would love to hear from you. Email us at radio@uss.salvationarmy.org or call 1-800-229-9965 or write us at PO Box 29972, Atlanta, GA 30359 when you contact us will send you our gift for this series is totally free for listeners like you, one per household, while supplies last. You can also subscribe to our show on iTunes or your favorite podcast store and be sure to give us a rating. Just search for wonderful words of life follow some social media for the latest episode extended interviews and more.

And if you don't have a church home. We invite you to visit your local Salvation Army warships.

Glad to see this is Bernie day inviting you to join us next time. Salvation Army wonderful words of life