Tag Archives: debt

How To Live Without Credit Cards


Life without credit cards is possible.

My wife and I have been able to survive without credit cards for more years than I can count now.
You can do it too and here’s how.

The secret to living without credit can be done with 3 simple steps.

1. Budget
2. Save
3. Buy, using cash or debit

The main reason most people use credit cards is because they do not have enough money in the bank to make a purchase and they want it now.

Why would there not be enough money in the bank to make the purchase?
Because they didn’t save.
Why did they not save?
Because they were not living on a budget.

Get on a written budget and make sure savings is near the top of the list (right under tithing)

Plan on putting 10% of you income into savings.
The best way to do this is to have it auto drafted into savings each time you get paid.

Make a goal to have at least $1,000 in the bank for large purchases and emergencies.
Save more if you need more, but this is the very minimum to keep in the bank for purchases.

Once you have money in the bank you can use cash or a debit card to make purchases instead of a credit card.

Get on a budget, save and cut up those cards.

Tell those creditors that you don’t need them any more.

3 Reasons to Pursue Financial Freedom


In my last post I talked about the key to Financial Freedom.
Here is the link. https://rickangell.com/2013/08/14/the-key-to-financial-freedom/

Here are 3 reasons to pursue financial freedom.

1. No more chains
2. Cut out the middle guy.
3. Make a difference

1. No More Chains
This is the obvious one.
I don’t know about you, but I don’t like the idea of being slave to anyone.
God intended for us to be free and able to make our own decisions.
We are bound by the people that we owe money to and will not obtain true financial freedom until we pay off our debt and owe no one.
(I wish our government would grasp this concept!)

2. Cut out the middle guy
The things that you owe money on are not really yours.
The bank owns your stuff until you make that last payment to them.
Your car and home could be taken away if you stop making payments on them.
But, going a step further, everything in this world is owned by God.
Looking at it that way, wouldn’t it be better that you have true ownership of the things which he has given you or the bank?
Cut out the middle guy by paying off your debt and take sole ownership of the things that God has intended for you.

3. Make a difference
Financially freedom allows you to think of others more than yourself.
If most of your paycheck is going to pay off things that you borrowed money on, then there is little to nothing left to give and help others.
You cannot give if you don’t have anything to give.

Pursue financial freedom so that you can be free, cut out the middle guy and give like no one else.

The Easiest Way To Save $220,000 plus in Your Lifetime


The average american buys a new car every 5 years.
As I write this in 2013, the average new car price is $30,000.

Let’s assume that your car buying years are from 20 to 75.
75 minus 20 = 55 years
55 divided by 5 = 11 times that the average person buys a new car
11 times $30,000 = $330,000

What if instead of buying new, you bought used and payed $10,000 every 5 years for a car…
11 times $10,000 = $110,000

$330,000 minus $110,000 = $220,000
This is the amount that you could easily save by buying used instead of new.

Cars are a terrible investment of your money.
Only purchase what you need, not what you want.
This number could be much higher if you can hold onto your car for even longer than 5 years or pay less than $10,000 each time.
I have had my Ford Taurus now for 13 years. It is as old as my middle child.
I hope that it will last 10 more years or at least until I can pass it on to him.

Are you buying used or new?
Anyone thinking they’re beating this number?

Please share your thoughts in the comment section below.

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