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“But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day.” Deuteronomy 8:18 (KJV).

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If you are searching for information that could give you the power to get wealth, keep checking in. Seek and you shall find. Knock and it shall be opened unto you. This has new meaning to it when we remember that our wealth is is in hands of those we serve. Helping others is a central part of one's power to get wealth. Our prosperity depends on how we help others prosper. God gives a seed to the sower. Our challenge as wealth builders is to sow the seed that will help others to succeed in their endeavours. We do things to help others do things so that they could eat

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Friday, April 27, 2012

OWE NO MAN ANYTHING:THE BENEFITS OF LIVING DEBT FREE

For some, the benefits of debt free living seem far fetched, but to others there is no joy like that of owing no man.  Many use Romans 13:8 (KJV) as the standard for debt free living.  "Owe no one anything but to love one another, for he who loves another has fulfilled the law." Bills are to be paid because it is a matter of trust. Unpaid bills accumulate to become debt.  Our inability to get out of debt becomes a burden that cripples our wealth building abilities.

Can we really get rid of debt? 
Yes. When we read authors such as Dave Ramsey we can nod our heads to his ideas. Who would not like to have an emergency fund of $1,000.00.  Who would not like to pay off ALL our debts (except for the mortgage). This means paying off ALL our credit cards, ALL loans and everybody we owe.   

What are the benefits of living debt free?
According to Ramsey, the ordinary person could get ahead of recurring expenses (3-6 months). This is your safety net. It will take care of the unexpected bills with a lot less stress. Without the burden odfa heavy debt load,  can enjoy the freedom of building wealth that includes a retirement fund. We can help our children by putting aside a college fund. We can finally pay off the house and declare ourselves debt free. There is power in knowing that we can save. We can lend to others.  We do not have to borrow and that we can really live debt free.

Ramsey's steps are easy to understand, but may be difficult to follow. They involve changing the way we think about wealth and debt. The steps, when followed, will help us to discipline our minds to become wealth builders and not debt creators
Posted by JASV at 1:22 PM
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