Comments on: Why you should get out of debt http://www.christianpf.com/why-you-should-get-out-of-debt/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 08:03:07 -0600 hourly 1 By: bob http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6035 bob Thu, 28 Aug 2008 12:49:18 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6035 @Dana you are right, there are too many people today stuck with the mindset that it is impossible to live without debt! @Dusty yea, I used to take pride in my math skills until I realized it didn't matter how much I figured out mathematically, it only mattered what I actually did! - Which wasn't much at the time ;) @Dana
you are right, there are too many people today stuck with the mindset that it is impossible to live without debt!

@Dusty
yea, I used to take pride in my math skills until I realized it didn’t matter how much I figured out mathematically, it only mattered what I actually did! – Which wasn’t much at the time ;)

]]> By: Dusty http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6029 Dusty Thu, 28 Aug 2008 02:45:51 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6029 I have to agree with you 100%. The math may not but at the end of the month, math does not put food on the table. Being out of debt and living within your means does! Great blog, I will be back for more. I have to agree with you 100%. The math may not but at the end of the month, math does not put food on the table. Being out of debt and living within your means does!

Great blog, I will be back for more.

]]> By: Dana http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6025 Dana Wed, 27 Aug 2008 21:29:34 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6025 I appreciate you addressing this issue because I have met with so many couples that believe they must acquire debt in order to live. I believe being in debt hinders you from doing things God asks of you. I appreciate you addressing this issue because I have met with so many couples that believe they must acquire debt in order to live. I believe being in debt hinders you from doing things God asks of you.

]]> By: Jon Kepler http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6021 Jon Kepler Wed, 27 Aug 2008 18:04:03 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6021 Thanks Bob. I still agree with you, personal debt can definitely become an entrapment. Thanks Bob. I still agree with you, personal debt can definitely become an entrapment.

]]> By: bob http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6019 bob Wed, 27 Aug 2008 16:14:11 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6019 @Jon thanks for sharing, I think you bring up an interesting point - I had always looked it as more of a figurative sense of slavery rather than actual slavery. But, although they may have become physical slaves back then, I think it is hard to argue that the bondage that debt can create on a person, family, or business isn't like slavery... I can relate to what GHolmes is saying, while my situation wasn't that bad, I still felt very trapped... @Jon
thanks for sharing, I think you bring up an interesting point – I had always looked it as more of a figurative sense of slavery rather than actual slavery. But, although they may have become physical slaves back then, I think it is hard to argue that the bondage that debt can create on a person, family, or business isn’t like slavery… I can relate to what GHolmes is saying, while my situation wasn’t that bad, I still felt very trapped…

]]> By: GHolmes http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6010 GHolmes Wed, 27 Aug 2008 12:20:52 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6010 When I got laid off in rural Oregon I had over 30,000 in unsecured debt, car payment, loan on my 403b and mortgage. Had 2 rental properties that both were vacant and not cash flowing. To be able to make ends I had to take a job in Seattle, sell rentals at loss. I was divorced Dad which meant I had to leave my son in rural Oregon to take a higher paying job just to cover my DEBT. Have since got my priorities straightened out but though literally not a slave those 60 hour weeks paying off DEBT sure made me feel like I was. When I got laid off in rural Oregon I had over 30,000 in unsecured debt, car payment, loan on my 403b and mortgage. Had 2 rental properties that both were vacant and not cash flowing. To be able to make ends I had to take a job in Seattle, sell rentals at loss. I was divorced Dad which meant I had to leave my son in rural Oregon to take a higher paying job just to cover my DEBT. Have since got my priorities straightened out but though literally not a slave those 60 hour weeks paying off DEBT sure made me feel like I was.

]]> By: Jon Kepler http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-6009 Jon Kepler Wed, 27 Aug 2008 05:17:04 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-6009 I've been involved in many discussions based on that "slave to the lender" passage in the Bible. First, there was no bankruptcy in Bible times; you actually became a slave. Other societies had debtors' prisons. However, how exactly can you become a slave now? The worst part of bankruptcy for many people is not getting any MORE credit for the next year or two, and then facing the higher interest rates after that. Look at Fannie Mae and Freddy Mac (large banks in HUGE trouble right now). Do the borrowers look like slaves to you? Freddy and Fannie are getting taken out at the knees by those who owe them money. The banks are being controlled by the borrowers. I am a dedicated Christian, yet I think it's pretty obvious that our society, while not entirely ethical, has nevertheless turned the tables on this passage of scripture. I’ve been involved in many discussions based on that “slave to the lender” passage in the Bible. First, there was no bankruptcy in Bible times; you actually became a slave. Other societies had debtors’ prisons. However, how exactly can you become a slave now? The worst part of bankruptcy for many people is not getting any MORE credit for the next year or two, and then facing the higher interest rates after that.

Look at Fannie Mae and Freddy Mac (large banks in HUGE trouble right now). Do the borrowers look like slaves to you? Freddy and Fannie are getting taken out at the knees by those who owe them money. The banks are being controlled by the borrowers. I am a dedicated Christian, yet I think it’s pretty obvious that our society, while not entirely ethical, has nevertheless turned the tables on this passage of scripture.

]]> By: MInTheGap http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-5998 MInTheGap Tue, 26 Aug 2008 20:54:53 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-5998 It was a great post, bob. Thanks for sharing it. It started some really great discussion! It was a great post, bob. Thanks for sharing it. It started some really great discussion!

]]> By: bob http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-5996 bob Tue, 26 Aug 2008 16:51:47 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-5996 @GHolmes I think the math vs. discipline thing is why Dave Ramsey is so popular - all the academics disagree with him mathematically. But since his program is based on the discipline of personal finance it is actually helping people that the academics can not! @GHolmes
I think the math vs. discipline thing is why Dave Ramsey is so popular – all the academics disagree with him mathematically. But since his program is based on the discipline of personal finance it is actually helping people that the academics can not!

]]> By: GHolmes http://www.christianpf.com/why-you-should-get-out-of-debt/comment-page-1/#comment-5995 GHolmes Tue, 26 Aug 2008 16:42:28 +0000 http://www.christianpf.com/why-you-should-get-out-of-debt/#comment-5995 You nailed it. As a former addict to OPM, math is easy for me but not the discipline. Two years now of not using credit cards, it can be done. For years I bought into the myth that I would always have a car payment. No more. Thanks for your post today. You nailed it. As a former addict to OPM, math is easy for me but not the discipline. Two years now of not using credit cards, it can be done. For years I bought into the myth that I would always have a car payment. No more. Thanks for your post today.

]]>