Managing Debt
The Real Life Way!
The rich rules over
the poor, and the debtor becomes the lender’s slave.
Proverbs 22:26-27
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Real
Life
Money
Managements
Simple 9 Point
Financial Checklist
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 Real Life Money Management's
Staying
Afloat Principle
of Managing
Debt
Managing debt is the downfall of many who get eaten alive by the credit sharks. Unfortunately, debt free living is the dream that many fail to realize.
The Staying Afloat Principle is important to keeping the Teeter Totter Principle, the number one
Real Life Money Management's "Guiding Principle", in balance.
...the borrower is servant to him that lendeth.
Proverbs 22:7
A little debt almost always leads to more. Every time you get into debt that monthly payment makes the money side of the Teeter Totter a little lighter. To survive financially, you will need to make lifestyle changes to make your side of the Teeter Totter a little lighter.
Whenever you get enticed to go into debt for that shiny new whatever, think about what part of your lifestyle is going to be sacrificed to make the credit payment. After this analysis you may think twice about going deeper in debt.
Many people are living on borrowed time when it comes to their financial
situations. They are living way above their means because of their credit
rating. The thing to remember is that it eventually catches up to them and
that's when all the financial problems start affecting other areas of their
lives. Don't be enslaved to debt get free of it as soon as you can.
Getting into debt is just the opposite to the Josephs Principle.
Usually if you can afford the
payment for that extra car, boat, etc.; you could be saving the same amount of money instead. Eventually, with a little patience, you could outright buy what you want. It’s a very simple principle that requires nothing but your patience and discipline combined with a little time.
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