This program will help you undo financial bondage.
The highest interest loans are usually issued
by retail establishments. Most of them charge about 25% interest for every
dollar borrowed when not paid off in total once the bill is due next month. These
financial institutions are charging you 25 cents on each dollar you let revolve
(rollover) from month to month. It usually takes a very long time to pay
these credit cards off when you only make minimum payments because the payment
due is usually 2 to 4% of the outstanding monthly balance. Financial
institutions that provide these loans may set the finance charge at a much
higher level (30%, 35%, etc.) when they believe you have become a poor payment
risk due to undisciplined financial behavior (increasing credit limits or
usage, delinquencies, etc.).
It’s not good for your financial health to
maintain and continue to seek more debt. Get your financial affairs in order to
pay off credit balances and develop a mindset to refrain from using them,
unless you have more than enough money saved to pay off your entire charge when
the bill comes due. People that have been undisciplined in using credit in the
past should immediately close the accounts, no matter what others say about it
ruining their credit score. If they don’t cut them up, the debt demon will
continue to guide them into overspending and their credit score will wind up
being terrible anyway as their debts grow larger, seriously undermining their
ability to pay bills on time each month and provide for their family. You must
understand that many loans and credit accounts are issued to motivate you to
buy more and more unneeded products and services without regard for what is truly
best for you and your family.
Never listen to advisors who encourage you
to keep credit accounts when past history shows you have been undisciplined and
thus will remain loaded down with debt. You must break the cycle. When you
eliminate credit accounts and faithfully pay bills when due, you put yourself
in a far better financial position than what is indicated by just having a good
credit score. You won’t need a credit score at all because provision that comes
from utilizing biblical financial debt-elimination principles will bring all
the resources that are best for you, especially when you follow this up with long-term
investing of the freed-up cash flow.
While going through the debt elimination
process, you may be able to apply for a low interest consolidation loan at your
financial institution to pay off higher finance charge accounts and get one reasonable
monthly payment for all the accounts consolidated. These loans are normally
closed-ended, which means the amount you pay off in future months is not
re-usable. It does not revolve to allow you to charge more. Never consolidate accounts
with a finance charge lower than the consolidation loan's finance charge. The Lord
wants you to be debt-free, able to provide for yourself and family, and able to
abundantly fund gospel ministry. Doing all you can to get high finance charges
lowered helps you more quickly eliminate debt and is the type of faith with
works that is pleasing to Him. It shows you are a good steward of money
entrusted to you.
Deuteronomy 28:12, Proverbs 22:7, Luke
16:8-12, Romans 13:8
Please pray for this ministry and email questions to parlor@ameritech.net and share the links below with others who need guidance. May the
LORD bless you richly as you follow His plan!
Share http://kminfo.org/ministries/financial-freedom weekly
with family and friends so these bondage-breaking articles and other financial
information can help them gain helpful insight!
The
book at the link below provides principles and practical steps that help you
use the Power To Get Wealth. By 1992, we had $135,000 of debt and
a negative $35,000 net worth. Financial bondage and turmoil led me to seek
principles and a process for employing good stewardship. As a result, we became
constructively debt-free in 1998, mortgage free January 2004, millionaires in
2012, multi-millionaires shortly thereafter, and retired in 2018 in my
mid-fifties from public servant jobs while giving abundantly to fund the gospel
of our LORD Jesus Christ. The same power is available to you!
You can find books authored by Randy and
Karen Parlor at www.Amazon.com.
You can also connect with
Randy Parlor on Facebook, Twitter, Linkedin, Instagram, Google Blogger,
WordPress, Jesus Social Network, Social Cross, Pinterest, Tumbler, and You
Tube.
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