Did you know being in debt is robbing you of your future? How many of you are in debt, because you used a credit card or two, to get out of an emergency situation, or purchased something you just had to have but didn’t really need to survive?
Life throws us curve balls daily; and to survive, you need to plan wisely. Part of planning is creating a monthly budget. Okay, I can already feel you cringing, and see you shaking your head. Friends, my husband and I did the same thing years ago……that was until we sat down and created our monthly budget.
This budget gave us a true visual of all monies coming into our home versus all monies going out. Having a budget provides you with the proper discipline and structure needed to ensure you tackle your debt and create a true savings account/emergency fund to use toward preparing your family for being self reliant.
You ask me how is being in debt going to rob me of my future? Let me explain by using this example…. You stress about the economy after watching the news and reading Prepping Blogs and decide, instead of waiting until you have the extra cash on hand, you’re going to use a credit card to shop for $200.00 worth of groceries to stock your pantry. When you get home, you unload the groceries, stock up your pantry, and feel physically and mentally satisfied. You’ve stashed $200.00 worth of preps for your family. Granted, this quick solution feels great; that is until you receive your credit card bill. Now you owe $200.00, plus 18 percent interest rate for that month (interest rates vary). The company only requires you to pay $15.00 for your minimum payment. You opt to pay the minimum payment, because you can’t pay off the total balance.
The next time you receive the credit card bill, the credit card company hopes you can only pay the minimum payment again, because the credit card company is earning good money off of your measly grocery purchase. Each month, the credit card company is earning at minimum $3.00 more from that one grocery trip, and if they can persuade you to only pay the minimum payment for let’s say 1 year, they would have made over $30.00 + dollars off of you, for your measly $200.00’s worth of groceries. That is called robbing your future. Instead of using a credit card to survive, and paying all that interest on a measly purchase, sit down with your spouse and budget accordingly.
You’ll be surprised how much money you can save, and the debt you can pay off.
Life is good. Bulldog Man and I have paid off all of our debt (school loans, kids’ emergencies, credit cards, and miscellaneous) and have decided debt will not become a burden again. Cash is KING!!!
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