Ntumbuluko T T Nyathela > Hope of Nations Youth Ministries 1. No credit ever makes you richer Whatever money or property you get on credit, invites more credit because of interest. If I get a loan and use the money to buy a loaf of bread, I can eat it, but by the time I finish the first slice, I owe my creditor more than the bread is worth. 2. No credit ever causes you to be able to afford things Whatever money or property you get on credit, you do not necessarily afford, you simply got it prematurely. Any premature thing is more of a problem than a solution. 3. Whatever you buy on credit, you never own until you finish paying your debt. If I get a loan and use the money to buy a loaf of bread, I can eat it, but the bread I’m eating really belongs to the person I’m owing because when he comes to visit me, I must buy him a loaf and a tin of jam –even if I don’t feel like it. 4. Whoever you owe controls you Every creditor limits the amount of money you take homeat the month-end, because you must pay him. 5. Debts don’t just mean you don’t have today – they also frustrate your ability to have tomorrow. Simply because any increase you have, you must surrender to your slave-master lender. Spirit of debts...
Posted on: Mon, 15 Jul 2013 16:38:58 +0000
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