What do Publiluis Syrus, Andrew Jackson, Ralph Waldo Emerson, and Ezra Pound all have in common?
Their words of WISDOM on DEBT and Slavery
“Debt is the slavery of the free.” ~Publiluis Syrus
“When you get in debt you become a slave.” Andrew Jackson
“A man in debt is so far a slave.” ~Ralph Waldo Emerson
“Wars in old times were made to get slaves. The modern implement of imposing slavery is debt.” ~Ezra Pound
They all spoke about debt existing as a form of slavery.
Even Proverbs 22:7 states that the borrower is slave to the lender…
So WHY has debt quickly becoming a new form of modern slavery in this country when we know the DANGER?
People have become increasingly more willing to borrow to purchase consumer items and lifestyle enhancements before they actually earn the money. Huh? What did I just say?
We spend money before we earn it.
And its close cousin is true also...
We spend more than we make.
And let's not forget those od us that just don't save
Although most people would agree that debt is not good- it still has a chokehold on so many of our friends and family members. Most normal people are just plain broke.
If you’re in debt, you don’t have the FREEDOM to use your money the way you want.
72% of Americans have debt. Let’s take control of our money once and for all! It may not be easy but it is possible. It requires a plan, determination, and consistency.
According to Dave Ramsey, “Winning at money is 80% behavior and 20% head knowledge. What to do isn't the problem; doing it is.”
So, How do I start?
First things first- cut spending. Not fun I know... but just think about how a temporary sacrifice can give you freedom later!
Stop Creating Debt and…
Create a starter Emergency Fund of $1000
STOP: don't roll your eyes and dismiss this advice because you think you could never save $1000!! Often times an unexpected expense causes us to go into debt. If we have a backup plan, an emergency fund, it gives us that buffer we need to avoid pulling out that credit card. But first, we need to stop pulling out that credit card for items that we don’t have the money for…. And for a season I propose cutting spending to needs only so that you can put money aside for those rainy days.
So, Where do I start?
JOIN MY FREE GROUP: Moms of Faith: Debt Free & Beyond