A Financial Stronghold message from Dr. DeForest Soaries:
When I graduated from high school, my family bought me a used car that I planned to take to college. At first, I would drive all week after having bought only one dollar’s worth of gas! Then I received a gas credit card in the mail. I started filling my tank every time I went to the gas station. My income had not increased (I had no income), but that card gave me more buying power. After one month, my gas credit card bill was $200. I made the minimum payment of $10 and that began a 15-year struggle with overspending, credit cards, and debt.
My story is similar to that of many Americans who are dealing with financial stress on a daily basis. The presence of overwhelming debt exists and is growing in every sector of American life. Not only is our nation drowning in debt, but American citizens have also become addicted to credit cards, high interest loans, and borrowing as a lifestyle. This means that we feel we simply cannot wait until we have the money to make certain purchases; that we cannot wait to obtain the things we want; that we are willing to pay high interest rates in return for the right to own items we cannot afford. This has become a national problem that seems to know no boundaries. We will never own businesses, be prepared for emergencies, or leave a legacy for the future if we are drowning in debt today. Getting out of debt is the first step toward financial freedom.
The ability to be content in any circumstance is a sure sign of spiritual maturity. The idea that I “must” have that tie or that suit or those shoes suggests that I cannot be content without them. It is precisely that “mentality” that causes us to use credit cards to buy those things we think give us our contentment. For Paul, contentment came as a result of his relationship with Christ. If we have that same relationship, we can have that same contentment and resist the feeling that we need things to make us happy.
How can you break the cycle? Dr. DeForest Soares has 12 Steps to financial Freedom 12 Steps to Financial Freedom.