1. 43% of Americans spend more than they earn.
2. 70% of those who go to church are upside-down in some debt.
3. Credit card debt per household in the USA is $16,000, averaging $3900 per card.
4. 25% of American families have a negative net worth.
5. If you pay with a credit card, you will spend, on average, 12-18% more than if you used cash.
6. The average car payment is now $464 a month. One third of us owe more on our cars than they are worth. We pay on one car or another for about 40 years. If we invested that $464 a month for 40 years at 10%, we’d have 5.4 million. Nice ride.
God came to set us free from sin, free from ALL bondage. Proverbs 22:7 says, “The rich rules over the poor, and the borrower becomes the lender’s slave.” I believe God means exactly what He says. In 1950 the credit card was invented. In 1970 15% of Americans had credit cards. Last year we carried 576 billion cards. We only have 218 million people over 18.
Debt has no love, no sympathy, and no grace. If you fail to pay your debts they will crush you. The root word for debt in the Old Testament is “to deceive, seduce, lead astray.” God has a better plan. Come Sunday, lets get on the path to freedom.
Dan
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