Why to Get Out of Debt

When Mark and I got married, we took our vows seriously.

To have and to hold,

from this day forward,

for better or for worse,

for richer, for poorer,

in sickness and in health,

to love and cherish from this day forward

until death do us part.

Our wedding was grand, 

the honeymoon, divine.

Nothing could keep us apart or make us unhappy.

We both had jobs, 

no children yet, 

no mortgage, 

no "responsibilities".

So, we did what we liked, 

went where we liked, 

spent what we liked 

on what we liked.

$350 suits, no problem.
JC Penney Credit.

Weekend trips to Disney World, let's go!!

(it's a small world, after all).
MasterCard.

Dinner cruises, we deserve it.
Visa.

A new car? Why not?
GMC Lease.

One day, the bottom dropped out.


We were spending more than we made.
We borrowed when we knew we couldn't repay.
We robbed Peter to pay Paul.
(Definition:To take or borrow from one in order to give or pay something owed to another.)


We were $33,000 in credit card and loan debt.


This was painful.
Excruciating, even.


Why?
We fought.
We cringed when the phone rang.
We ate beans and rice a lot.
We fought.
Checks bounced.
The electricity got turned off.
We fought.


We forgot our vows:
To love and to cherish,
for richer, for poorer.
We loved each other in the richer,
but blamed each other in the poorer.


But neither one of us were handling our finances intelligently.


Until we found Dave.
Dave Ramsey is our hero.
He gave us hope, and a plan and a hopeful future.


We attended a Financial Peace University seminar and not only learned
The Baby Steps to Beat Debt and Build Wealth,
but we learned 
WHY TO get out of debt.




Why?

• God owns it all. We are just caretakers of his creation. All we have is just on loan to us, from Him. Every spending decision is a spiritual decision. Waste, for example, is NOT a squandering of our resources, it is a poor use of His. 

Psalm 24:1 says-- The earth is the Lord's and everything in it;
the world, and all who live in it.

• We trust that the Lord will supply all our needs. The problem comes when we try to define "needs". Dave defines basic needs as: food, shelter, clothing, transportation and utilities. 

Philippians 4:19 says-- And my God will meet all your needs 

according to his glorious riches in Christ Jesus.

• We must honor Him with the resources we have. Since we have limited resources and unlimited choices (poor Americans!), the only way to get ahead financially is to deny ourselves some of the things we want. If we don't have the discipline to do that, then we will always be in debt. In other words, we must spend less than we earn to avoid this:

• It restores peace and freedom to the home. After being in debt for some time, it's hard to remember what it feels like to not owe anyone. You feel trapped, desperate, in bondage. When the pain of slavery becomes more unbearable than the risk of breaking free, you are on on your way to loosing those chains. Once you are free from your restraints, the sun comes out, you are free to dream, and you can truly focus on what's really important--chocolate-- not really, just checking to see if you're still here.

Proverbs 22:7 says--The poor are always ruled over by the rich, 

so don't borrow and put yourself under their power.

Psalm 142:7 says-- Rescue me from this prison, so I can praise your name.

   And when your people notice your wonderful kindness to me,

   they will rush to my side.

• We will be able to share. Giving reminds us that the world does not revolve around us, and that no matter how bad off we feel we are, someone else is in a much worse situation.  Giving originated in the heart of a giving God, a God who lavishes us with more blessings than we ever deserved or expected. Life, love, salvation, eternity with Him... all gifts. One of the great and unique promises in God's Word is that the more we give, the more we receive--not necessarily in material things, but in spiritual and eternal rewards.

• In our old age, we will not have to worry about our own care, and our children and grandchildren will be blessed by our prudence. Let's reverse our nation's trend toward leaving debt for our grandchildren. If we are able to bless our children, by helping them to get moving in the right direction early in life, what a legacy of love we can leave!

(1929-- My great grandmother, Sarah, in the middle, and my grandmother on the left and her brothers).

Proverbs 13:22 says-- A good man leaves an inheritance 

of moral stability and goodness to his children's children.

It took us two L-O-N-G years,
We pay with cash, 
we have money saved,
we have an Emergency Fund.


Just this month, 3 things in our household needed $ thrown at it:
1) Our 1992 Buick Skylark (the car pictured above) needed a new radiator.
2) Our 11 year-old lawnmower broke and so we got a new mower.
3) Our 8 year-old digital camera died and we got a refurbished one.


We were able to get these things 
because we have an account just for such problems 
that inevitably arise.


Our life is not perfect, but definitely more peaceful.
Mark and I spend less time talking about bills and financial woes
and more time dreaming, laughing and enjoying each other's company.

(Our 20th Anniversary Party--the kitchen is trashed because there were 10 couples celebrating with us!)


Our wedding vows which stated:
for better or for worse,

for richer, for poorer

--have been put to the test.

Did we like the test?
Uh, nope.


But our marriage is sweeter for it
now that we know why to get out of debt.

.