Financial crisis A crisis is a very difficult situation which we find ourselves in that causes bondage, confusion, hopelessness, pain and great difficult. One of the most common crisis situations we find ourselves in is financial crises. It is experienced by nations, companies, families and individuals. It has very negative devastating effects. Personal financial crisis is caused by among others the following: Spending beyond one’s means: spending beyond income earned will definitely lead to financial crisis. Wrong financial planning: bad financial decisions probably as a result of wrong advice and planning lead to problems. Spending without a budget: failure to operate with a budget is a major reason for financial crisis. Unnecessary loan and debt: a loan taken for the purposes of satisfying “a want” will lead into debt and crisis. Financial crisis leads into great debt. The bible warns us against being in debt.” a man lacking in judgment strikes hands in pledge and puts up security for his neighbor” (proverbs 17:18). “The rich rule over the poor and the borrower is a servant to the lender” (proverbs 22:7). ”Let no debt remain outstanding, except the continue debt to love one another” (Romans 13:8). Debt is dangerous; some of the dangers of debt include the following: It deprives God of a chance to say no or to provide through a better means. It may lead us to rob God to pay people. It can ruin relationships, reputation and credibility. It is enslaving. It is addictive, once we get used to live on credit, it becomes a lifestyle. It causes worry and stress; it is a serious enemy to mental health. It is expensive. Those who are in financial crisis should seek help to get out of it. Those who are in crisis should avoid it completely.
Posted on: Fri, 25 Jul 2014 17:01:52 +0000
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