I hate Debt

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Today’s Blog Post

I hate Debt

I hate Debt! I hate owing someone money and I hate owing myself money – where I have to borrow from one pocket to pay the other pocket – because I spent too much on something I did not need!

I hate Debt.

I have pastored churches for my living over the past 35 years. In almost every case the church has owed money because they got into Debt that they couldn’t pay off. The income shifted or dropped when it was most needed. And the result was the Debt that they got into could not be paid off.

I helped them pay off Debt. That was my main ministry… well almost anyway!

I witnessed what happened when Debt began to rule people’s lives. In church that was so very evident. In people’s lives it was also so very evident.

The problem was that Debt is heavy. Carrying it for too long makes you tired and you desire to quit. People become glum and not good to deal with or live with!

I was reading this morning of Frank Stronach, the very wealthy man that founded Magna International – the huge auto parts company that is perhaps one of the best businesses around today. The business continues to make huge amounts of bucks every day.

Yet Magna almost collapsed in 2009 when it began piling up Debt.

Franks words are good for all of us. He said, quote, “I’ve never seen a company go broke if they have monies in the bank,”

Now that seems so simple. Money in the bank… and no debt.

Yet most of us will spend what we have in the bank because we simply need something so badly – we don’t think about it and then just do it. After all the money is there, we should use it.

Yes I am guilty of doing just what I hate so badly. I know what Debt is all about… I have had it and I now have it again. I will be rid of it in a matter of months if all goes well… but if all doesn’t go well… it may be there for a while.

I didn’t expect to have to do over the entire basement, but when water comes in – there is no choice. So now we work on Debt again… not much, but enough to make me not sleep good some nights. I hate Debt!

You need to read this article that Greg Keenan wrote about Frank Stronach. The old guy has good thoughts on Debt. Magna's Stronach warns of perils of debt

Mutter, mutter, mutter… I hate Debt!

~ Murray Lincoln ~
http://www.murraylincoln.com/

Resource:
http://www.theglobeandmail.com/globe-investor/magnas-stronach-warns-of-perils-of-debt/article2009559/