From Howard Dayton
Crown Financial Ministries
Two weeks ago one of the callers was having trouble balancing the family budget.
The reason: he had purchased an expensive car using debt. He still owed $54,000 on the car and was saddled with a $990 a month car payment. He admitted that he purchased the car for "vanity." The car debt was "upside down" with the auto worth less than $40,000.
One of the most common debts that inhibit us from reaching our financial goals (enjoying a monthly surplus, paying off all consumer debt, saving, building a retirement) is automobile debt. I would plead with you: don't buy a car that's too expensive for you because of pride or vanity. Get a more modest vehicle. Reach the goals that the Lord has for you.
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