Christian Debt Consolidation Services
If you are looking for Christian debt consolidation services, you have come to the wrong webpage. But, before you go, here are some great tips you might want to consider as you start to get out of debt. These tips are about saving money and will help you with your journey from debt to financial freedom.
I have included a few scriptures from the Bible for you to consider before you start reading the tips. Think about these scriptures before you start reading the rest of the page.
Proverbs 22:7 The rich rule over the poor, and the borrower is slave to the lender.
Psalm 37:21 The wicked borrow and do not repay, but the righteous give generously;
Saving Money Lessons
Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.
Emergency Fund Tips
Setting up an emergency fund is a critical factor in order to understand money. A person should have two emergency funds. The first emergency fund is called the small emergency fund and this has $500 to $1000 in it. If an emergency happens for example, a flat tire or the car needs to be worked on, and there is no small emergency money set aside, most people might turn to a credit card. You don’t need to create more debt when the situation should have been paid for with cash. Paying cash eliminates the worrying of getting into more debt.
The big emergency fund takes a little more time and effort to build up. It is usually a good idea to have at least three to six months of income that is set aside for the big emergency fund. Examples of big emergencies are a loss of a job, hospital emergencies, or the immediate need of a car. The three to six months of income should be for emergency purposes only. If a person cannot set up the three to six months of income, then they should be able to set up three to six months of their expenses.
An emergency fund usually helps people to relieve a lot of stress. Plus, the big emergency fund can take a lot of stress off a person and their family as well. In reality, when a financial emergency happens, a person can choose to be financially responsible or not. It is really up to them.
The good part of having a small and big emergency fund set up is that a person would usually be able to pay for their expenses with CASH while financially maintaining themselves if an emergency really did happen. I realize that this article was not about Christian debt consolidation services, but the information should have helped you to learn great lessons about money.
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