What the Joneses Never Tell You

The Culture’s Position on Debt

• You might envy the stuff that another has, but you don’t know the stress that it takes to keep it.
• Comparison leads to discontentment; discontentment often leads to debt.
• Debt attempts to secure our happiness now by committing to pay more for it later.
• 2019 Averages
  • Average household credit card debt – $8,398
  • Average student loan balance – $35,359
  • Average car payment – $554 new and $391 used
  • Average APR credit card rate – 15.09%

Your Response to Debt

• While debt may be necessary for a few purchases, it should never be utilized for all transactions.
• If you are only making minimum payments on your credit cards, you should consider getting rid of them altogether.
• If you can’t afford it now, you need to avoid it now.
• Don’t make financial decisions that cause you to be a burden to others or keeps you from being a blessing to others.
• If you struggle with what you possess, remember to Whom you belong.