Simplicity (Part 2)
4. AVOID BUYING ON CREDIT
I don't believe in borrowing from credit cards. (For convenience, I use one card to pay the whole amount at the end of each month.) If I need something really bad, I save up for it. Sometimes, at midpoint, I realize I don't really need the darn thing and give up the whole idea. The only exception I feel we should enter into credit is when buying a non-depreciating item, such as housing or land. I believe we should always live within our earning capacity.
Proverbs 22:7 says, "Those who borrow are slaves of moneylenders."
(I am what the credit card industry call a transactor. I use my credit card for almost anything I buy, but I pay off the balance every month. If you have the discipline to do that, a credit card is much better than a debit card because it is much easier to protect yourself from fraudulent charges. With debit cards, the money is already gone and you need your bank to refund it. With credit cards, you just report that its a fraudulent charge and you don't have to pay it.)
5. GIVE AS MUCH AS YOU CAN
If I content myself with $9.00 shirt instead of a $40.00 Polo shirt, I can help others more. Trust me, there is immense pleasure! You will find that the empty thrill of owning a diamond ring on your finger pales in comparison to the joy of handling a piece of bread to an orphan child.
"And God is able to make all grace abound to you, so that in all things at all times, having all that you need, you will abound in good work." (2
Cor. 9:8 ). The Old Testament of tithing, or giving 10% of your income is a good guideline to follow. The New Testament challenges us to give with a cheerful heart. (When you're cheerful, you may give more than 10%!) Make it a habit.
posted by: danggi (reply)
post date: 09.05.05 (5:28 pm)
I am not a fan of credit cards. I had one once and I decided to cancel it after a few months. It sort of makes me want to get something that I cannot afford.
posted by: jennjr (reply)
post date: 09.07.05 (3:39 pm)
Great posts (both of them). These are thoughts I need to listen to more. All too often, I find myself caught up in trivial and mindless complications unnecessarily. I need to stop, and breathe, and just be.
Thanks.
posted by: theseeker (reply)
post date: 09.09.05 (8:36 pm)
Reply to: danggi
You live here in the US, right? If so, you have a rare discipline that few people have. Credit cards will indeed encourage you to spend. $5 here, $8 there and all of a sudden, you have a huge bill.
posted by: theseeker (reply)
post date: 09.09.05 (8:37 pm)
Reply to: jennjr
Thank you. I also fill up my days with activities, I have to remind myself that activity doesn't always mean progress.
posted by: danggi (reply)
post date: 09.11.05 (11:26 pm)
Reply to: theseeker
I live here in the Philippines. I work for CitiFinancial. A company under Citigroup. Sometimes it amazes me when I see the credit card statement of accounts of our clients. I wonder how our clients accumulate so much debts. Most of them usually go over their credit limits.
I am thankful that I don't have to worry about paying credit card bills.
posted by: mnash (reply)
post date: 09.12.05 (12:17 pm)
I agree on the credit thing. We were doing pretty good until the wife stayed home last year and this. Now the charge card got us thru last Christmas and it is used for unexpecteds. We live simple, yet are over extended. Looking forward to the car being payed off and student loans finished. Then pay of the Credit card!
I am not sure that I have one article of clothing over $20. I shop CHEAP!
