Why debt is not good for you:
- Relationships: Money problems are the number one cause of divorce for married couples.
- Stress and Medical Problems: Your health is worth it.
- Debt encourages you to spend more than you can actually afford.
- It prevents you from reaching your financial goals
- It can prevent you from owning a home.
- Debt can keep you trapped in a vicious cycle of never-ending monthly payments.
- Debt is borrowing your future income.
- Being in debt does not teach you patience or self-control.
Proverbs 11:15 says, “He who puts up security for another will surely suffer, but whoever refuses to strike hands in pledge is safe.”