Owe To Own

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 and 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, it’s 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.