Week two of Mind Your Own Business might just be my favorite week. This week Pastor Craig is going to hit consumer debt head on and hard. Most of us have little to no clue about the real costs of our consumer debt. We tend to ask how much the payments are or what the down payment is instead of what the real cost of the item is if we use credit to pay for it.
The average American spends $1.22 for every $1.00 they earn. That just doesn't work for long. The average American also has $8500 in credit card debt. If a person paid the minimum payments it would take them forty years of paying $141.00 per month on that debt. That $8500 has a real cost of $70,000 over all those years. Consumer debt will wipe you out. We have to learn to live under our means.
You can start finding out how this weekend. See You Sunday!!
1 comment:
People should read this.
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