A statistic published in the Wall Street Journal states only thirty percent of Americans do not live paycheck to paycheck.
PUMP THE BRAKES!!
That would mean Seventy percent of Americans do live paycheck to paycheck. Who is this Seventy percent?
The Seventy percent are those who think making more money is the answer to solving their debt. Think about this, you go to the emergency room with a six-inch cut on your arm wrapped in a bloody towel. The nurse rush you into a room and shouts for the doctor. The doctor walks in and removes the towel to see what he is working with; he sees the blood is streaming steadily from the cut.
Do you think the doctor next move is to say, “we’ll get you fixed right up; I’m going to give you more blood?” No! Unless he got his training online from Doctors Our Us, his first move is to stop the bleeding. The Seventy percent will not stop the bleeding when their funds are gushing out of their bank account to pay their debt. They believe making more money is the answer.
Our cars have an indicator light that comes on when there is something wrong with the car. Debt is an indicator light that shines bright to serve notice something is wrong, and if ignored long enough it will produce much heartache.
Those in the Seventy percent might rationalize and say there is something wrong with the indicator light, but the problem is not with the light, the problem is with the mindset. We are in a culture of “I want it now.” Buy a car now for $180 a month, never mind the 21 percent interest rate, and at the end of 72 months that thirteen-thousand-dollar car costed you three times the amount the car is actually worth. Making more money to cover up your bad habits is not the answer.
A business instructor taught it is best to use OPM – other people’s money as way of getting ahead. The Seventy percent may think debt is necessary to get ahead or it is some type of badge of honor for success. If that was true, why has the United States, one of the richest nations in the world has suffered from bailouts and recessions?
Why has countless professional athletes and entertainers worth millions go broke? They thought by making more money they could out earn their debt without changing their buying habits. That is the key to getting out of debt and creating wealth, CHANGE YOUR BUYING HABITS!
You cannot succeed by earning more money while keeping the same buying habits. God tells us when it comes to making more money,
“Of what use is money in the hand of a fool since he has no intention of acquiring wisdom?” Proverbs 17:16
Debt does not add prosperity to your life, in fact it has destroyed countries, marriages, and lives. It is a considerable risk to think your credit rating is an indication of your level of success. Dave Ramsey, creator of Financial Peace University teaches the cure for debt is tied to three principles of God, giving, saving and spending.
Anytime you receive from God – give to Him first (Malchi 3:8). Leave an inheritance; save with a purpose (Proverbs 13:22). Plan to spend; without a plan to purchase what you need, and not what you want (Philippians 4:19), you will think making more money is the answer and end up over your head in debt.
God is available to free you from bondage, do not desire to have things more than the desire to have Him. So honestly ask yourself a couple of questions; is making more money the answer? Are you currently in the Seventy percent who is living paycheck to paycheck?
If you are, change your mindset, and change your buying habits to Live Your Dreams that you were designed to live.