Debt...the American Way? - Page 2

angelic1 · #16 02-23-2007, 12:11 AM

being debt free is great, of course, but honestly i haven't been that worried about paying off my school loans since my interest rates are so low. instead i use the extra money to put in savings, investments, etc.

i have used money to help pay off my car loan early though (no car payments soon

)

my main strategy which works best for me is to use my credit card to pay for everything. then at the end of the month i just pay it off. i can track my spending so much better and keep it under control. i also just limit my spending.

AOX81 · #17 06-25-2007, 02:08 PM

Well I sucked it up and took out a loan to get my debt paid off quicker. A 6.99% interest rate is much better than whatever I'm being raped by my credit cards these days. Thank God for good credit.

BetteDavisEyes · #18 06-25-2007, 02:53 PM

Well, my husband and I have no credit card debt so that's definitely good. We only owe my car, the house, and my student loans.

KSUViolet06 · #19 06-25-2007, 03:24 PM

The best advice I've ever been given about money is SO simple, but if you go to buy something and don't have the money for it, don't charge it or finance it, put it back.

Also, get your priorities in order:

For example: My neighbors just financed a new $6,000 piano. The husband is a city maintenance worker and the wife stays at home. They have 2 cars apiece (I'm talking Lexus & BMWs, not Toyotas), their kids are into pricy activites (gymnastics) and they just added a new sunroom onto their house. That's all great, but their electricity was cut off last month.

Honeykiss1974 · #20 06-25-2007, 04:27 PM

Quote:

Originally Posted by LouisaMay

Wow...I had no idea my little comment would produce such interest...

Crown isn't a debt consolidation company or anything like that. They teach good stewardship as other posters have suggested. Their use of scripture is sound. The Bible actually has a lot to say about finances, and Crown applies those principle to contemporary financial issues (such as getting loans, giving loans, charitable donations, saving, retiring, co-signing, etc.). They certainly do not teach that all believers will be financially prosperous.
It's very practical. It's helped me anyway...

CFM is a great program btw! I've heard a lot about Dave Ramsey too but I haven't checked him out for myself so I will reserve comment.