God's Truths _ Consumer Myths - Biblical Truths

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God's Truths _ Consumer Myths - Biblical Truths Powered By Docstoc
					                               Faith & Finance
                           Breaking Free From Debt
                               Truths vs. Myths

           Biblical Truths                              Consumer Myths

Deuteronomy 15:6 When the Lord your           Americans can consume and borrow
God has blessed you, as he promised you,      indefinitely while the rest of the world
you will lend to many nations, but you will   saves and produces
not borrow; you will rule over many
nations, but they will not rule over you

Psalms 37:21 The wicked borrow, and do        Debt is a tool and should be used to create
not pay back, but the righteous are           prosperity
generous and keep giving

Romans 13:8 Owe no one anything, except With home mortgages, school loans, and
to love one another, for the one who loves car loans, young couples today may owe
another has fulfilled the law              more than $140,000 within the first couple
                                           of years of marriage. This is a way of life,
                                           you’ll always have a mortgage and a car

Proverbs 22:7 The rich rules over the poor    If I loan money to friends or relatives, I am
and the borrower is the slave of the lender   helping them

Proverbs 17:18 It is senseless to give a      By cosigning a loan, I am helping a friend
pledge to become surety for a neighbor        or neighbor

Proverbs 22: 26-27 Do not be one of those     Ninety days same as cash equals using
who give pledges who become surety for        other people’s money for free
debts. If you have nothing with which to
pay, why should your bed be taken from
under you?

             Other Truths                                    Sub-Myths
 A debit card gives you the ability to do    You need a credit card to:
  virtually anything a Credit Card will do        Rent a Car, Check into a Hotel, or
                                                    Purchase On-Line
 Debit cards have the same protections           A Debit Card has more risk than a
  against theft or fraud as Credit Cards            Credit Card

True, but 60% of people don’t pay off their   If you pay off your credit card every
credit card each month and 75% of airline     month, you get the free use of someone
miles are never redeemed                      else’s money

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