Why you should get out of debt
This is a reprint of an article I wrote for MinTheGap…
This world is backwards. Everyone loves to talk about using OPM (other people’s money) to purchase things or to gain wealth. I just don’t get it. Mathematically I understand the advantages of leveraging debt, but math cannot be used to understand every situation. As emotional creatures we were not designed to function as walking calculators making every decision based solely on the numbers.
While math plays a role in our financial lives, there are far more powerful truths, like discipline for example. The thing is that most of us know mathematically what we should do with our finances, yet because of a lack of discipline we don’t do it. So, what then needs fixing - the math or the discipline?
Another truth that really clarified to me why I needed to get out of debt is because the Bible says, “the borrower […]
Original post by bob