Just because you have a new job doesn’t mean that you need to spend everything you make. Just because you got your first paycheck doesn’t mean you need to spend it all. The temptation is there.
Don’t do it!
Listening to Dave Ramsey, I frequently hear him take calls from listeners who have racked up tens of thousands of dollars of credit card and/or student loan debt as well as having car and mortgage payments that they simply cannot afford. This is a trap that all too many people fall into.
Ask how much, not how much down
Aim to not carry any debt. That may mean that it takes a bit longer for you to get something than you would if you bought it on credit. Patience is a good thing, though. I would challenge you to keep you car until it is completely paid off. Even if you don’t, I will never again buy a new car. I can’t afford the depreciation that happens in the first two years.
Theology of debt
For me personally, I realized that whenever I went into debt for something, I was expressing a dissatisfaction with what God had given me. Again, it also expresses an impatience, and neither of these are spiritual issues that I want to be dealing with. I realize this may not apply to every reader, but if this point makes an impact on you, I would be interested in hearing your thoughts.
Don’t believe me?
Check out this video…
