Live Debt Free

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All We Have Is A Gift From God

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“Every man also to whom God hath given riches and wealth, and hath given him power to eat thereof, and to take his portion, and to rejoice in his labour; this is the gift of God.”  – Ecclesiastes 5:19

Everything we have was given us by God

Whether we have little or much, what we are blessed with is ultimately from the Lord… be it talents, time, health, wealth, friends, work, or love… we have the Lord to thank.  He gives freely, not based on what we deserve, but solely on His goodness.

He blesses us with life and health.  Let us be thankful while we have them and use them for good.

He blesses us with loved ones.  Let us think of them often, pray for their needs, and be there for them whenever we can.

He blesses us with intelligence.  Let us educate ourselves constructively, labor well, and give much.

He blesses us with vision and fortitude.  Let us plot our course and stay on track… and though we wander from time to time, let us always return to pursue our best goals.

He blesses us with forgiveness.  Let us humble ourselves before Him, reveal our faults, and follow after future truths.

He blesses us with salvation.  Let us accept His gift and pursue holiness and right doing.

He blesses us with His Word.  Let us read and appreciate it anew daily for spiritual guidance and sustenance.

Believe me… I know how hard it can be to keep these things in perspective, but we must; because these are the things that truly matter!  Never forget that, “As he came forth of his mother’s womb, naked shall he return to go as he came, and shall take nothing of his labour, which he may carry away in his hand.”  Ecclesiastes 5:15

Possessions are not all we have

Abundance can easily cloud our ability to focus on the truly important things in life… like those mentioned above.  There are a lot of people promoting minimalism these days, and I’m all for it.  Simplifying our lives is one great way to clear our hearts and minds of the unnecessary, so we can begin filling them again with the necessary.

Stop and smell the roses

I love those times when I can shut up long enough to realize and appreciate just how much God has given me.  This is one of those times.  Wherever you are today… take a moment to count your blessings, take your portion, and rejoice therein – it is the gift of God.

I’m happy to share this awesome meditation with you, and hope it blesses you as much as it did me.

Debt Plan – Facing Bankruptcy & Foreclosure

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Have a question of your own?  Ask Matt Jabs for free!  🙂

Should Julianna let her homes go into foreclosure?

DFA Reader Julianna asked:

We are guilt-ridden and full of shame that we have allowed ourselves to get caught up in this lethal debt trap.  Unwise use of credit cards when income diminished due to income drop.  This month we had $1900 income with $7K in debt payments:

$300K unsecured debt, 2 mortgages (one rented) while waiting to sell, 2 auto loans $5K remaining on one and $20K on the other; $24K student loans.  Income drastically reduced due to medical crisis for me; husband employed in real estate, 100% commission based.  RE market is dreadful here.

Against our better judgment, met with bankruptcy attorney and were advised we make too much money to file.  He said only way is to let both homes get foreclosed, give up one vehicle, and find a rental house $700/mo (IRS allowable guideline) As strong Christians, we do not believe bankruptcy is the way.  We want to pay our debts, and have now contacted Consumer Credit.  The repayment plan would reduce interest rates and lock fees, but we aren’t certain if we can meet the minimum payments.  I’m scared of being homeless!  I’ve been reading everything I can — and realize we need an emergency fund right away — but with what?  We are in survival mode.  Please pray for us and give any advice God lays on your heart.  Thank you in advance.  God bless.

Debt and shame

This is an extraordinarily difficult situation, but there is hope.  Release your feelings of guilt and shame.  They will not help you; a firm commitment to paying back what you borrowed will.  That being said, the task ahead of you is neither small nor easy.  You will need to live far below your means in payment for living above.  The process will be all the harder if well intentioned people foolishly say you “deserve to live a little.”  Ignore them, and continue to do what you know is right… and you can do this.

Although this situation is difficult, the way out is no secret.  The principles of sound financial management are the same no matter what amount you are working with:

  • Spend less than you earn and save the surplus.

Here is my recommendation for how to deal with your situation.

Create a Written Budget

This MUST be your first step, your budget is your map.  Without a written budget, it is impossible to know what you have or where you are going.  This is especially crucial because of the variable nature of your husband’s income.  To calculate your monthly income, use his net income from last year (be conservative) and divide by 12.  Never spend more than that in a month, even when you have more.  When creating your budget, follow this simple rule:

  • Give 10% – Save 10% – Live on 80%

Realize that somewhere out there a family is living off 80% of your income.  It is important, as a Christian, that you not neglect your giving when in financial difficulty.  The 10% you save will be used to start building a $1,000 emergency fund (a larger cash reserve only makes your creditors more likely to sue for payment.)  With every check that comes in, before you do anything else, write a check for 10% for giving, and place 10% into a savings account.  When setting up the rest of your budget, eliminate every monthly bill you can: cable, magazines, cell plans etc.  Small bills add up.  Assess the difference between wants and needs and get down to the basics of food, transportation for employment, and shelter.  The excess will go towards freedom from debt.

Debt Reduction

Once your budget is in place, you need to eliminate all the debt you can.  First step is to cut up all the cards.  This prevents you from going deeper into debt slavery.  Next, eliminate as many debts as possible.  Return anything you still can that was bought with credit.  Those that you cannot return try to sell for enough to pay it off.  Try Craig’sList, a garage sale, and friends/church/family.  Finally, do not limit yourself to things you still owe on.  Anything of value you can do without should be sold.  Your goal is to reduce the amount of debt you will have to pay off with earned income.

Downsize Your Vehicles

The car you still owe $20,000 on needs to go.  Try to sell it for enough to eliminate the debt, and adjust your lifestyle to having one vehicle.  The one you owe $5,000 on is another matter.  If you can sell it for enough to cover the debt, you should, but you may already owe twice as much as it is still worth.  If this is the case, make paying off the vehicle your priority.  If your husband’s job allows, consider going car-less for some time and using bicycles or public transportation.

Evaluate Your Housing Situation

You say you have one house rented pending sale.  I hope that it will sell soon.  Add up the total ownership cost of your current home (mortgage, PMI, insurance, utilities, maintenance, etc.).  If the total is more than 35% of your husband’s net income, or more than 40% of gross, the house is more than can be afforded.  Place the home on the market, and begin the search for an apartment that meets the above guidelines.  It may be smaller, but you will feel better knowing that all the bills can be paid.

Final Details

Remember when paying your bills to take care of the important stuff first.  Give, save, pay for your housing, buy food, and spend the money needed to keep your husband working.  Do not spend the money for these things on unsecured debts.  If you are late paying an unsecured debt, the worst-case scenario is a line on your credit report.  That is ok as long as you have a place to live.  Meet your needs, and as you are able, begin paying on the highest interest debt first.  If a consumer credit agency can work out a payment plan, that is a good option.  Stay focused, stay the course, and one day sooner than you think, you can be debt-free without having to go through bankruptcy.

Do you have any advice for Julianna?

Have something to add?  Please share your wisdom and experience and help point Julianna in the right direction.  Thanks!

Have a question of your own?  Ask Matt Jabs for free!  :)

*Disclaimer*
We accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. Our comments are an expression of opinion. While we believe our statements to be true, they always depend on the reliability of our own credible sources. Any advice taken from this site does not in any way establish a client/adviser relationship.  We always recommend that you consult with a licensed, qualified professional before making any financial or investment decisions.

One World Currency – New World Order

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Buy silver to hedge dollar collapse

  • Buying silver may be the best thing the average investor can do right now.  Given the global financial situation experts advise against waiting for a price dip, they’re saying,”just buy physical silver, it could explode at any time.”  My opinion is to buy only physical silver like $1,000 bags of 90% coins (or $100 bags if you cannot afford larger,) and not ETF’s (SLV.)

Global currency videos

  • New World Order
  • Endgame: Blueprint for Global Enslavement
  • The Obama Deception: The Mask Comes Off
  • Fall Of The Republic: The Presidency Of Barack H Obama
  • Camp Fema: American Lockdown

A one world [global]currency?

Many people, including the president of Russia, have an interest in debasing the U.S. dollar as a currency and eliminating it as a global standard currency.  This is not a Democratic idea, a Republican idea, or even an American idea but an international idea.

It would be wise for you to educate yourself concerning the interest in and implementation of a one world currency.  This is not the rambling of a conspiracy theorist, as many would have you to believe, but simply a cry for awareness to my fellow man, specifically my fellow Americans.

I do not wish to delve into apologetics concerning the gross errors and corruption in monetary policy of my government.  Rather I wish to point out a few necessary and powerful critiques of a centralized one world currency.  I am also looking to raise awareness in my readership, because I care and want you to be informed.

CNN Money sees the writing on the wall.

The Washing Times sees the writing on the wall:

“Treasury Secretary Timothy F. Geithner and Austan Goolsbee, member of the Council of Economic Advisers, have refused to rule out a global currency. Such views by top policymakers cause the dollar to drop. Even worse, this shows that the Obama administration supports dramatically greater centralization on a national and international scale.”

Here are a few of the reasons a one world currency is abhorrent:

“Unlimited power is apt to corrupt the minds of those who possess it”

  1. Lack of competition – No currency is void of the possibility of becoming debased.  Competition between differing national currencies the globe over is healthy.  It allows citizens and businesses to choose opposing currencies if they do not agree with the direction of their government’s monetary policy.  If there is a one world currency, there is no more room for debate, choice, or alternatives.  It empowers government and removes power from people, which brings us to our next point.
  2. Centralized Power – Consider again the unification of world banks all having common interest in one currency and one currency alone.  Of a certainty in this world, money is power.  If the richest and most powerful people on earth share a common goal for their money, where will that ultimate power lead the nations of this world?

Here is one reason why none of this scares the spiritual man within me:

  1. Biblical Prophesy – The bible predicts the adoption of a one world currency and aligns its adoption with periods of incredible famine, disease, brutality, and enslavement.  The concept of a one world government — and with it a one world economy — is prophesied in both Daniel and Revelations, there is nothing new under the sun.

“Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men.”  – John “Lord” Acton

Global currency? So what’s the answer?

Thomas Jefferson knew that the power of government, if left unabated, would always follow its natural course of corruption and power grasping.

“God forbid we should ever be twenty years without such a rebellion.  The people cannot be all, and always, well informed. The part which is wrong will be discontented, in proportion to the importance of the facts they misconceive. If they remain quiet under such misconceptions, it is lethargy, the forerunner of death to the public liberty.  And what country can preserve its liberties, if it’s rulers are not warned from time to time, that this people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to the facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants.  It is its natural manure.”  – Thomas Jefferson in reference to the 1st American Revolution

The ultimate answer lies with faith in the God of the bible, faith in the truth of His Word, and faith in the death, burial, and resurrection of His Son, Jesus of Nazareth – indeed the Christ.  The answer lies in loving God, submitting ourselves to Him and thus enabling ourselves to love our fellow man as ourselves.

Earthly action and answers lie in the people empowering themselves with knowledge and courage.  Begging God for increased spiritual faith and courage.  The complacency, apathy, moral decay, and increased social dependence on government of our day are frighteningly reminiscent of so many other societies throughout world history.

Here are the typical stages of society as history teaches:

  1. From bondage to spiritual faith
  2. From spiritual faith to great courage
  3. From great courage to liberty
  4. From liberty to abundance
  5. From abundance to selfishness
  6. From selfishness to complacency
  7. From complacency to apathy
  8. From apathy to moral decay
  9. From moral decay to dependence
  10. From dependence to bondage

Where do you see our nation?

I see our nation as having just surpassed the crest of number five and heading downward into steps 6 – 10.  I believe we are currently immersed in step 6, 7, 8, and 9.  I believe only a return to spiritual faith, morality, and charity can reverse the current course we are on.

Global currency videos

  • New World Order
  • Endgame: Blueprint for Global Enslavement
  • The Obama Deception: The Mask Comes Off
  • Fall Of The Republic: The Presidency Of Barack H Obama
  • Camp Fema: American Lockdown

Buy silver to hedge dollar collapse

  • Buying silver may be the best thing the average investor can do right now.  Given the global financial situation experts advise against waiting for a price dip, they’re saying,”just buy physical silver, it could explode at any time.”  My opinion is to buy only physical silver like $1,000 bags of 90% coins (or $100 bags if you cannot afford larger,) and not ETF’s (SLV.)