Financial Mistakes to Avoid–Part 2

Want to avoid financial mistakes?

As I admitted yesterday, I could fill a book with the financial mistakes that I’ve made. So let’s continue the topic of things to avoid doing with money. Never carry a credit card balance from month to month. Current interest rates are ridiculous, and more than half of Americans are paying them. That’s financial suicide. Set a goal to pay off balances as quickly as possible using the avalanche or snowball methods, a balance transfer, or a combination of these methods. Crown’s online courses or our budget coaches, can help you on the journey.

Vacations throw many people into debt. That was unheard of when I was growing up. Our vacations were spent driving to visit out-of-town family or to a National Park. They were never expensive – but always fun! Today, surveys show that despite inflation and credit card debt, consumers have a “treat yourself” mentality. Post-vacation debt defeats the purpose of a vacation! Avoid it by budgeting and planning ahead. Pray, work, and save for your next one. God provides in incredible ways that you’ll miss out on if you choose to go into debt.

Learning to practice contentment and gratitude will improve your finances. You’ll spend less and create margin for giving, saving, and investing. This reduces stress and accelerates the ability to catch up from prior financial mistakes. As Hebrews 13:5 says, “Keep your life free from love of money, and be content with what you have, for he has said, ‘I will never leave you nor forsake you.'”

Now I invite you to join us at Crown’s 2023 Reunion. We plan to gather October 12-15 at Ridgecrest Conference Center near beautiful Asheville, North Carolina. For details and registration, go to crown.org/reunion.