The rich rule over the poor, and the borrower is slave to the lender.
Proverbs 22:7
Debt is a type of millstone. Hanging around your neck, drags you down, makes going forward tough, and has a stranglehold on your life. With rising costs, it is difficult for many families to make ends meet. The majority of families are living from paycheck to paycheck and find saving almost impossible. Why is this happening?
Are the Savings of Yesteryear Gone?

For some of us, it seemed that our parents were able to save money. They had the bills paid, and if there was a repair that needed to be done, there was money in the bank. They operated in cash, predominantly. If they had credit cards, most of the time they were paid or had a nominal balance. So, what changed?
Are We Doing This to Ourselves?
To answer this question, you must examine your own spending habits. It is easier now than ever to obtain a credit card. In fact, most people have several in their wallets at varying interest rates. Banks make it very easy to obtain them, and most people find it easy to rack them up.
The differences between then and now may in part be due to a cash system. Our parents (depending on your age) dealt primarily in cash. Payments were a check in the mail, and once you were out of cash, that was it. People budgeted better and often knew how much money they had on hand.
Today, we use debit cards. While convenient, you can spend a great deal of money and not know exactly how much you have left over in the bank. In contrast to carrying money, when your hundreds are dwindling down to fives and tens, you know it is time to cut back.
This ease of technology makes it easy to overspend. Yet, we don’t have to necessarily worry about that since there is always a credit card to the rescue. Whatever we want, we can pay for it later. And pay for it…and pay for it… and pay for it. By the time it has been paid off, you have oftentimes paid at least twice the price in interest.
And guess who gets rich….
What do you do to get out of debt?
Our next issue shows you the best methods of getting out of debt plus tips and tricks to maintain a debt-free living. Why go through life feeling strangled by paying for your yesterday? Walk in confidence knowing that money doesn’t rule your life and that you can be a blessing to whoever needs it as God had intended.
This article will appear in our July issue of Faith Filled Family Magazine.