Debt Can Be Devastating

A man jumped off a twenty-story building. Onlookers were terrified, but the man seemed perfectly calm. As he plummeted by the window of a fifth-story apartment, he looked at the wide-eyed occupant and said, "Everything's all right so far."

This apocrayphal story reminds me of the attitude many people take toward debt in its early stages: "Everything's all right so far." But what happens to most debtors later is equivalent to what happended to the man when he finally reached the ground.

Money, Possessions & Eternity by Randy Alcorn

What is Financial Independence?

What is Financial Independence? Many people go through life trying to achieve financial independence. Is that a specific dollar amount that you are trying to achieve? Is it reaching point that you don't have to work anymore? What is it?

There is no such thing as Financial Independence! I have worked with many wealthy families and individuals but their wealth is fully dependent on many factors.

• The value of the dollar
• The price of real estate
• The success of a business - the value can go to zero very quickly - Lehman Bros, Enron, Etc.
• A Law suit
• An economic crisis
• A divorce
• A medical crisis

The point is Do not strive for Financial Independence! It does not exist.

Many of us think "If I just had more money my problems would go away?" Problems and worries exist no matter how much money you have. I have spent grueling hours with estate planning attorneys, accountants and and other professionals working through the major issues and problems that comes with wealth. The rapper Notorious B.I.G. said it best in a song Mo Money Mo Problems. It may eliminate some problems but creates new ones.

Remember, don't put your faith in money and stuff.

The Financial Crisis Affects us all

Over the past year our nation has experienced the worse recession since the Great Depression. Individually, it has impacted each of our lives differently. In my opinion it has made us all look at the world and money and possessions differently. We have grown accustomed to putting too much faith into our jobs, our money, and other things that can disappear in a flash. We now see that money does not give us security, but rather our faith and relationship with God.

Also, many have realized that debt is equal to risk. Household spending has decreased, while saving has increased. Americans are saving more and spending less on discretionary stuff that we don't need. Many of us have lived a life of gluttony over the past 20 years. Now, hopefully, we will get back to the basics and live a simpler lifestyle that forces us to focus on our family and friends rather than "stuff". My motto has always been the more you have the more you have to take care of, therefore, taking time away from family and friends.

As we enter this holiday season please remember those less fortunate. The image of those in need has changed tremendously over the past two years. Because of the economic crisis that we are in the midst of many middle class families have faced unemployment or have seen a reduction in income. This has led to more home foreclosures, loss of health insurance, and bankruptcies. Today the rescue missions are filled with folks from all walks of life. The number of needy has drastically increased. Remember, it could be you. So please give to those in need.

One of the main goals at Overcomers Resource is to help folks get back on their feet and give guidance in managing their resources in a manner that will allow them to reduce the risk of disaster during emergencies such as a job loss or a costly medical situation. Please go to http://www.overcomersresource.com/.