How long do you want to be a servant or, for lack of a better word, a slave? How long do you want to live from paycheck to paycheck? If you are tired of being a servant to debt, then it is time for a change.

The rich rule over the poor and the borrower is the servant to the lender.
(Prov. 22:7)

How long do you want to be a servant or, for lack of a better word, a slave? How long do you want to live from paycheck to paycheck? If you are tired of being a servant to debt, then it is time for a change.

The majority of people that I speak to believe they have a money problem, and they think the way to cure it is to get more money (more money, more money, more money). The fact is, your situation is probably not a lack of income, but a lack of sense. Sense is defined as "intelligence, brains, intellect, wisdom, common sense, logic, and good judgment." The reality is that there is no level of income you couldn't outspend. The problem is not the need for more money as much as it is the need for discipline and control of the finances that you have.

For instance, if you take a look at the average American household, you will discover that they are paying $1,200.00 in interest each year on credit cards and over $7,000.00 in interest each year on their home mortgage. The word mortgage comes from the word "mort," which means "dead, or a dead pledge." Most people have their home financed for 30 years. As long as it takes to pay off a home, it could kill you.

If you would take the interest you are paying on your credit cards and the interest you are paying on your mortgage and invest it every month (just as if you were still paying the lenders), in less time than it would take to pay off your home, you would accumulate over one million dollars.

Where Is The Money Going?
To the bank! The banking business is the biggest business in America, bigger than Wal-Mart. Why? Because everyone that has a loan goes to work for the bank to pay back the loan. Everybody that is in debt is really an employee of the bank, just without the uniform and the benefits.

What the Bank is Not Telling You
Have you ever wondered how banks make their money? Below are the seven main ways they create wealth:

1. By loaning you money.
2. By charging you interest.
3. By charging you penalties, late fees, and fees for insufficient funds.
4. By making money off the money you have on deposit in their bank.
5. By investing your money, i.e. bonds.
6. By repossessions, foreclosures, and renting out lockboxes.
7. By getting you to save your money with them and buying CD's.

Now don't take me wrong; banks are not the enemy. They are here to perform a service, and many of us would not be able to buy a home or a car without the help of the bank. However, the banking system is designed with themselves in mind; they win the majority of the time. Your interest is secondary.

Don't ever think that because you receive an ink pen and a calendar at the beginning of each year that you are good buddies with the bank, because you're not. They are here to make money, and the way banks make money is to get you to go to work for them without the uniform and without the benefits. That means you are paying them interest.

From Paycheck To Prosperity
As a consumer, you face many choices on how to manage your money. Knowing how to manage money can help you make smart choices. Knowledge of how money works will allow you to put your money to work for you, and you'll be more likely to avoid traps that can undermine your ability to attain your financial goals.

You will be in a better position to pay off debt and build financial freedom.

Having knowledge about money and how money works can help you buy a house, finance higher education, or start a retirement fund. Here are a few steps that you can take to make you money work for you

• Establish goals. Where do you want to be?
• Create a plan. Determine your current situation. Where are you today?
• Pay off your debt. Becoming debt-free is the first step to freedom.
• Invest and diversify your money into Roth IRA's, 401K's, stocks, real estate, gold, oil, hobbies and adventures such as classic cars, guns, and other collectables.
• Increase your wealth to benefit the kingdom of God.
• Walk in wisdom. Wisdom gives you an advantage over the world.
• Keep God first. Support His work with your tithe and offerings. Deuteronomy 8:18 says, "…you shall remember the Lord your God, for it is He who gives you power to get wealth..."

By following these simple steps you can go from debt and lack to wealth and freedom. The greatest thing about becoming debt-free is having the ability to help others do the same.

This article is used by permission from Pastor Brian Bohrer's
quarterly newsletter: Wi$domandmoney
available at www.wisdomandmoney.com.