Don't "debt the malls" this Christmas
“Once again, we come to the Holiday Season, a deeply religious time that each of us observes, in his own way, by going to the mall of his choice” – Unknown
Liz Pulliam Weston wrote an interesting article titled, “5 lessons the rich can teach us.” Some things really stood out in my mind. Whilst the rich do borrow money, it is primarily for mortgages and other real estate related purchases or investments. When it comes to cars, they don’t waste money – period. Although they can splash the cash, they typically opt for cheaper purchases. Of course it goes without saying that those who collect vehicles like the Maybach Type 62, which start at $375,000 “us dollars”, are the exception to the rule. The most noticeable difference is that the rich are much more charitable – they give away a lot of their income – up to 50% or more. 90% in some instances.
The vast majority of us are not “filthy” rich. With Christmas around the corner and all that goes with it; it would therefore be wise to remind ourselves of simple ways we can keep out of the snare of debt. First off, we need to learn the difference between saving and spending. Far too many people have “saved” their way into financial bondage. If an item normally costs $100 and is now on sale for “only” $50; how much money do we save? Nothing. Not $50. We don’t save one red cent. We spend $50 (which we didn’t even intend to spend in the first place). We have to be especially careful with credit cards. They tend to create the illusion that we are not really spending any money (of course this misconception is quickly shattered when the bill arrives). Studies have shown, that people who use credit cards more – even if they pay off the full balance monthly and incur no interest – spend more than if they only use cash. If credit cards are proving to be problematic, as one writer put it, “perform plastic surgery” on them.
We could go on and on, but miss the point. Debt is a sign of a deeper and more spiritual problem (lack of discipline, greed and so on). So, “take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth” (Luke 12:15). Not sky-splitting like the second coming, but it’s good to be reminded of the simpler things ever so often. Don’t “debt the malls, spending bills with folly” this Christmas now. Happy holidays.
Liz Pulliam Weston wrote an interesting article titled, “5 lessons the rich can teach us.” Some things really stood out in my mind. Whilst the rich do borrow money, it is primarily for mortgages and other real estate related purchases or investments. When it comes to cars, they don’t waste money – period. Although they can splash the cash, they typically opt for cheaper purchases. Of course it goes without saying that those who collect vehicles like the Maybach Type 62, which start at $375,000 “us dollars”, are the exception to the rule. The most noticeable difference is that the rich are much more charitable – they give away a lot of their income – up to 50% or more. 90% in some instances.
The vast majority of us are not “filthy” rich. With Christmas around the corner and all that goes with it; it would therefore be wise to remind ourselves of simple ways we can keep out of the snare of debt. First off, we need to learn the difference between saving and spending. Far too many people have “saved” their way into financial bondage. If an item normally costs $100 and is now on sale for “only” $50; how much money do we save? Nothing. Not $50. We don’t save one red cent. We spend $50 (which we didn’t even intend to spend in the first place). We have to be especially careful with credit cards. They tend to create the illusion that we are not really spending any money (of course this misconception is quickly shattered when the bill arrives). Studies have shown, that people who use credit cards more – even if they pay off the full balance monthly and incur no interest – spend more than if they only use cash. If credit cards are proving to be problematic, as one writer put it, “perform plastic surgery” on them.
We could go on and on, but miss the point. Debt is a sign of a deeper and more spiritual problem (lack of discipline, greed and so on). So, “take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth” (Luke 12:15). Not sky-splitting like the second coming, but it’s good to be reminded of the simpler things ever so often. Don’t “debt the malls, spending bills with folly” this Christmas now. Happy holidays.
