Debt. Can’t
live with it, can’t live without
it! Besides giving, this is the issue that seems to stir
up the most debate. Is it okay to have debt? Do
we pay it off? How much is too much? The good news is that
the Bible is fairly clear (in principle) when it comes to debt. The
Bible does not condemn the use of debt, but warns against the
consequences of its misuse and the burden it can become.
A single
email newsletter is not sufficient to fully address the breadth
of this issue and all the various types of debt. Hopefully
the information in this newsletter will provide you with a starting
point if you have a debt issue or question. For those struggling
with debt, the key issue to consider will always be discipline
in dealing with the problem as no website, article or book will
provide a magic bullet to make it go away. This
testimony demonstrates this truth but also provides encouragement.
If you don’t
find the information you need, use the Internet as a research
resource as you can likely find an answer for just about any
question. Also, many debt questions are best
asked in the context of your personal situation, so the services
of a financial planner might be in order. Just remember
that if it sounds too good to be true, then it is. Purposely
seek wise counsel.
Warmest Regards,
Jeff Chinery
Director – National Planning Group
Planning Tips
A
Debt Overview – Learn more about how you
determine how debt fits into your personal financial situation
in The Role Of Debt In Your Financial Future.
Credit
Card Payoff – Need to get rid
of that credit card debt? This article from Sound Mind
Investing provides practical steps toward debt repayment. http://www.soundmindinvesting.com/visitor/misc/s_diggingout.htm
Mortgage
Prepayment – If
you have a mortgage, you probably have received numerous solicitations
to lower your interest cost by paying the mortgage every two
weeks. The
catch? The mortgage company will often charge you an unreasonable
fee to do this. Read this article for simple guidance on
how to do this for free (http://clarkhoward.com/advice/mortgage_payoff.html)
Relevant
Articles/Information
Mr. and Mrs. Thing – A
thought provoking story reminding us that is
often our pursuit of “things” which
leads us into debt problems.
Debt Statistics – An
interesting look at the position many people find themselves
in today.
In the news
Google IPO – Google, arguable the most
popular website, is about to go public and offer shares of the
company to the public through the stock market. Unfortunately,
many people put their hopes and dreams into an event like this
thinking this could be the road to wealth while the reality is
that the individual investor is often the one holding the bag. We
know that the current owners and employees will benefit as well
as the investment bankers but the jury will be out for some time
on those who buy the shares out of the gate. If tempted
to pursue the “latest and greatest” investment tip,
we need to ask ourselves if this fits into our long term investment
strategy or if it’s more like a weekend trip to Vegas without
the airfare.
http://www.usatoday.com/money/industries/technology/2004-04-27-google-1b_x.htm
http://forbes.com/business/2004/04/26/cx_da_0426topnews.html
http://www.newyorkmetro.com/nymetro/news/bizfinance/columns/bottomline/n_10178/
http://www.iporesources.org/ipoinvesting.html
