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Some financial reminders
During the 70s and 80s some savings and loan financial companies paid 15 percent interest on CDs. Some home mortgage rates reached 18 percent interest. Most of the loan payment went for interest. The point is this. We want to pay as little for interest and as much on the principal as possible. Some of us, like our children or out grandchildren, may well cut mortgage rates by shopping around for refinancing.
A 30-year mortgage may get paid off in 20 or 25 years by paying a little extra each month. All of the extra payment subtracts from the principal and also reduces the interest paid. What if we buy a home at age 30 and pay off the mortgage in 20 years. Being debt free at age 50 is quite appealing. Then we can start investing more. It was age 29 and 49 for me. My last little lump payment was about two months worth of income.
If we make a list of five or ten New Testament examples starting with Jesus, perhaps we can better sort out our real needs and wants. Galatians 6:7-10 give us instructions concerning sowing and reaping. I Timothy 6:6-8 gives some good information to help us sort out our needs and desires.
These decisions also affect how we spend money for our families. We certainly would like our children and grandchildren to have good Bibles, be involved in church activities and go to Bible camp during the summer. These all cost money, well spent money. Our children get enough bad pressure from TV, their friends and other sources.
By example and word we can help a lost and hurting world. We can both volunteer time and give money. If we get involved we won't be sorry. The Bible giving societies, Union Gospel Mission, food shelves Salvation Army, Minnesota Teen Challenge and many more need us. How did Jesus spend His time? Debt free. The more you give, the more God gives to you. Joy, joy, joy.
For the 2012 Club, June 3 takes us to II Chronicles 12 and John 13.
Have a good and joyous two weeks.
Crist Langelett writes a twice-monthly column on faith. He is a chaplain for the North St. Paul city, police and fire departments, a chaplain at Washington County Jail, a past president of the North St. Paul Area Emergency Food Shelf and one of the founders of North St. Paul's Polar Arena. He is active in civic groups and his local church.