Buying a home is a major expense – and a major debt. It’s said it’s the biggest purchase you’ll make in your life. A traditional mortgage loan is repaid over the course of 30 years, but today, some terms call for up to 40 years of repayment. To some, three or four decades seem like an interminable amount of time to take to pay off a debt… These are 4 simple ways to pay off your mortgage early!
Ironically, many children raised in wealth demonstrate the same tendencies as those who are raised in extreme poverty: depression, despair, attempted suicide, drug and alcohol use, and shoplifting. Why this behavior? The parents, who are way too busy making money, sacrifice meaningful time with their children.
Money is amoral, neither good or bad; how we handle it is the challenge. Therefore, we shouldn’t be surprised if a holy God wants to use money to guide us, challenge us, and improve us.
Christians have a dilemma. We are told to help the needy and we are also told to be wise. The challenge is to do both simultaneously. Is it possible that our “help” isn’t actually helping? Could we be enabling instead? How do we know the difference? What are some guidelines? First, some definitions: Helping is doing something…
I recently spoke with a single mom who was planning to mortgage her paid for house in order to ease her children’s college burdens. Her logic? “I just can’t let them accumulate all of those student loans. What kind of a mother would?”
Over the years, Jan and I have seen the joy of Christmas turn to stress as we annually exhausted ourselves with shopping lists, shopping extravagances, and mounds of gifts to be wrapped and delivered. We had allowed Christmas to become our master, and we found ourselves enduring rather than enjoying the season . . . .
Have you ever met a successful person who did not encounter some failures along the way? I know I haven’t … it seems that failure is inextricably blended into the pathway toward success. Fortunately for us, some very famous people have traveled this path. What can we learn from these “famous failures”?
As I bask in the celebration of our recent 40th wedding anniversary, complete with surprise readings from each child, child-in-law and grandchild, I can see some great personal finance applications of the principles Jan and I used raising our four children.
We instinctively cling to what we have when times are tough, but we also loosen those purse strings when good times return. The following hints will help you keep your savings and spending on track.
The argument I hear about tithing time sounds logical: “I just can’t afford it. Every penny is spent before the month begins. Wouldn’t God understand if I were to tithe my time instead of my money?” While I don’t believe this is a black-and-white issue, I do see some problems with this mindset.
As a reader of ChristianPF, I assume that you agree with this statement: “Even if you pay off every debt, build a fully funded emergency fund, invest wisely for retirement, save for your children’s college fund, and pay off your house early, you could still be missing the most important personal finance principle: giving!”
You open that credit card statement and sigh. “It’s going to take forever to get this thing paid off.” When you add your student loan debt and your car debt, that sigh turns to a moan. You ask yourself, “How can I ever stay on task long enough to do this? Is there a way to stay motivated?”
I write this article as much to myself as to you: I fully realize how money will persistently and insidiously seek to capture a bigger and bigger portion of my heart and my life. I also know that drifting through life doesn’t work because I seldom drift closer to God.