Trying to Inspire
By Keith Bunn Jr.
July 8, 2013
At the end of almost every blog I've posted, I've put "The reason I do this is to give people hope and to try to inspire others." But sometimes that's not always the case. I could say that maybe I just haven't perfected my technic yet of teaching others on the wise ways to handle their money, which is partly true but then again, sometimes it not my fault at all. Sometimes its the person I'm talking too.
Businesses that their very job is to loan out money to others have done such an excellent job of marketing debt to just about everyone in this country, it is almost impossible to get the old fashion message out there of living on less than you make, buy things you need or want with cash, save for retirement yourself and not rely on the government to do it for you, and become a generous giver.
Robbing your Future
I'm not sure how many times I've said it, but I truly believe that debt robs people of their future. Some people just don't understand that having car payments, credit card payments, mortgages, payday loans, rent to own payments, etc... do nothing but stealing money from them and destroying their future, just so they can have things now instead of waiting, being patient and saving up for whatever they want.
To give you an example; a young man, 20 years old asked me about getting a loan to buy a used truck for around $8,000. Of course I told him that I thought that wasn't a good idea and I gave him reasons why I thought that way, as well as gave him some ideas on how he could eventually be able to get a truck like the truck he was wanting to get, but I could sense that he had a little car fever going on and I felt that there was also a little pressure from his family to go through with getting the loan to buy the truck. I told him that he could do whatever he wanted to do and we'd still be friends, but I wouldn't get the loan. Needless to say, he did get the loan and we are still friends and if he wants more advise about what he should do down the road about money, I'll give him the best advise I can, but here is what I mean by debts steal and destroy your future.
That young man's truck payment is $214 per month. If he were to take that same amount and invest it every month from 20 to 65 years old in a good mutual fund, he would have $4.7 million at retirement.
That's what gets me the most! People don't look at the numbers that way, they only ask how much down and how much a month. That's what poor people do. Don't do what poor people do! The bible says, "The borrower is slave to the lender." and that's the truth! Debt robs you of you money, of your opportunities and your future. Don't fall for the lies that you need to have a FICO score to make it in our culture today. It's just not true!
The reason I do this is to give people hope and to try to inspire others. To make them think about their finances, whether they are young or old, so they can win financially.
If you have any questions for me about my posts or about your finances, you can call me at (616) 454-2046 or e-mail me at firstname.lastname@example.org. You can also find more money news, facts and ideas, on my Facebook and/or Twitter pages. I'd be grateful if you followed me. Thank you!