flipping from Owe to Own
April 19, 2022
I’m Miriam Neff with Wise Women Managing Money-and I’m Valerie Neff Hogan
M An important financial tool each should create is a simple T. On onside list all you OWN. On the other side, list all you Owe.
Example is your home. Value under OWN, mortgage under OWE. That T might be lopsided when you are young with school debt an a mortgage. That T needs to tip to owning more than you owe, the sooner the better.
V Typically what you OWE has interest charges and may likely affect your credit score or FICA. Waiting hoping for a larger income, or windfall is almost like gambling. Also, its not following biblical guidelines. Scripture discourages debt with very few exceptions.
M Start by creating that T. Revisit it often. Even small steps are encouraging, and God honoring.