What’s wrong with debt?

September 15th, 2008 | No Comments | Posted in Debt

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cutting up credit card

Today America watched as the stock market experienced the greatest one day loss in seven years. By the end of the day the market had fallen just over 504 points. The news of financial collapse of Lehmen Brothers and Merrill Lynch caused great fear and angst. How did these financial pillars find themselves in this type of predicament? In a word, debt.

The Bible gives us plenty of warning regarding debt, but the attitude of the world is that manageable debt is fine. There are even some financial planners that encourage debt. I found this article from Yahoo Finance (courtesy of CNNMoney.com) just a bit disturbing. The common factor among all those feeling pinched because of the downturn in the economy? No savings and too much debt.

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How can your money work for you? -- You Need A Budget.

This entry was posted on Monday, September 15th, 2008 at 9:02 pm and is filed under Debt. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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