July 30, 2014

Overcoming Financial Shame

“Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.” Romans 13:8

Financial debt can be a source of shame and stress for a lot of people. One of the danger signs that your spending is out of control is when you are constantly moving balances from one card to another. Maybe you have felt the embarrassment of having a credit card declined and being unable to attend social functions because your cards are maxed out. When you reach a breaking point, you may decide to reach out for debt consolidation help. It’s a wise move for people in a variety of situations.

You are paying only the minimum

If you are paying high interest on your credit card balances but your income hasn’t gone up, you can benefit from debt consolidation. By consolidating your credit card debt into one lower interest loan, you’ll pay less in interest. You’ll see the light at the end of the tunnel sooner because you won’t just be paying the minimum on each card anymore.

You’ve given up hope

If you have given up hope that you will ever be out of debt, debt consolidation could be right for you. The Bible says to knock and the door will be opened. By seeking help from credit counselors, you may learn the reasons behind your current financial problems. Developing a budget and saving for the future can prevent future debt related to unexpected medical problems or car trouble.

You are hiding the truth

If you are hiding the truth about your spending habits and debt from loved ones, you should consider debt consolidation after communicating with a spouse and other family members. At Christian Credit Counseling, we aren’t psychotherapists who analyze the reason for a client’s overspending habits. But we can arm you with the right tools to get out of debt and teach you to build wealth according to Biblical principles.

Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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