God wants us to be free from debt! He's concerned about the things we are dealing in life and desires for us to live in freedom.
Here are some stats that Andy shared in his sermon:
- Americans carry, on average, a balance of $5,800 worth of credit card debt from month to month.
- If you were to make the minimum payment on that debt every month, it would take 30 years to pay off and include an additional $15,000 in interest charges.
- Revolving debt, mostly comprised of credit card debt, has more than doubled from $313 billion in January 1994 to $753 billion in January 2004.
- The average household with debt carries approximately $10,000 to $12,000 in total revolving debt
- Only 2% of homes in America are paid off
- According to the Federal Reserve, close to 50% of all families in the United States spend more than they earn. The result of that - debt is everywhere!
Thoughts/reflections?
1 comment:
I'm incredibly happy that God has blessed me to be able to live without debt (so far). I got a full scholarship to college. I worked a co-op job for a year during 2 years of college. When I graduated from Cincinnati State, the place I co-oped (The Health Alliance) offered me a good job which I accepted and soon after bought a brand new car (I was driving my dad's 1985 Pontiac 6000LE) and was able to pay my new car off in a relatively short period of time. I still live with my parents (at 21 1/2) but want to move out soon.
I've never had a cell phone, never seen the need for it except for emergencies. I'm at home where there is a phone, or I'm at work where there is a phone, or I'm driving between the two where I won't take a call 'cuz I want to focus on driving, or I'm out having fun where I don't want to be bothered with a phone ringing.
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