Are You Trapped?

Feeling Trapped?

We love it and we hate it. Money, that is. Has there ever been a “trap” in our lives that is more controlling than this paradox? We can’t live without it if we want food and shelter, yet when we have enough, we strive to get even more and more and never reach personal satisfaction. It is, perhaps, the biggest concern of ours right now given we have just begun a new life.  

“After cashing a check at the bank, the woman in front of me stood staring at her money. "Did I give you enough back?" asked the teller. "Yes," she said. "But barely." (Reader’s Digest: Money Jokes). It’s truly amazing how fast money goes right out of our pocket! When we finally get our paycheck, there is a very long list of where and how we spend our money. It can go in hundreds of directions. And the money runs out before we even get to the bottom of the list.

The Hole Keeps Getting Deeper

Unfortunately, many people depend on credit to get them there. Excess credit cards with balances that are “maxed” out, extremely large loans including home loans, and even borrowing from friends and family. At some point in our lives, we have all done it. This is enticingly a debt trap that is extremely difficult to get out of. A vicious circle. A catch-22.

There is a true story of a woman [name here is unnecessary] who was whirling from this exact scenario. When she got a divorce (the money problem was only one of many issues at this point), there were eleven credit cards, all “maxed” out and a house neither she nor her soon-to-be ex-husband could afford. The house went up for sale and the credit cards were divided up to be paid off. Not a good start to a brand new life!

Sometimes, it can take years to get out of debt. It’s painful. Humiliating. Embarrassing. But possible. Very possible, if we are determined to make it work. And work is exactly what it takes. The outcome may be slow as we go inch by inch to create a much better life. But watching it happen is truly satisfying to say the least. Anyone can do it.

Re-build Your Life

So, how can we reach this point of being debt free? It seems there are as many books on the subject as there is money in the bank! So be careful who you listen to and what you read to be true. There are, however, reliable and credible experts in the money management field who can help get us there (see a couple links below).   

Some of the following examples, suggestions, and encouragement, might help to get started with this important life-building plan. This will move your plan ahead of the game when you decide to take a class, meet with a money counselor, or take an online course.

• Grab a notebook. On the first page, draw a line down the middle creating two columns.
• First Column: “Liabilities.” List every single thing that is owed including very small to very large items. Not just the monthly mortgage/rent and other bills, but also people borrowed from, collection items, and that “bounced” check at the bank. Everything.
• Second Column: “Assets.” List every bit of income of any kind that comes in during the month on a regular basis. This could include a paycheck, crafty side business, home computer services, babysitting, disability check, etc etc. Also list the value of every asset owned, like the house, car, boat, and larger furniture.
• Breathe. This exercise may take awhile and it might be difficult at first if it’s never been done before. But the purpose is to know exactly what is available in our pocket and what is not. There is no solving a problem without knowing what is going on. This can be eye-opening but will provide valuable information to get started. Experts, agencies, or counselors will ask for this kind of list.
• Budget. Yes, it’s a “horrible” thought. Teeth-clenching. But without it, the lists above will be useless. The nice thing is, once created and used, this monthly habit will feel “weird” if skipped.  

It’s too big of a subject to cover thoroughly here, and there are many individual and unique methods that are useful, so if unsure how to create a workable budget, get some help! But don’t just not do it because it is THE key to finding peace about the money situation.

The following links will definitely be concrete ways to help solve any debt problem and start a much better life. DON’T give up--it’s worth it!

Money Management

Dave Ramsey

Where Does It Come From and How Do We Get It?

We may never have thought about it much, but ALL of our money and whatever possessions we may have were generously given and will continue to be provided by only one Source, the Lord God Almighty. He hates to see us struggle. That is why He has a plan for us. God wants us to use our money wisely. When we do, He provides even more. When we give back to him on a regular basis, He gives us even more! It’s true, He says to test Him on this.

“. . .Bring all the tithes into the storehouse so there will be enough food in my Temple. If you do,” says the Lord of Heaven’s Armies, “I will open the windows of heaven for you. I will pour out a blessing so great you won’t have enough room to take it in! Try it! Put me to the test!” Malachi 3:10 NLT.