[Gary Petty] We just finished a Beyond Today program on managing your finances, and there were three points we brought out. Now, we did a BT Daily on the first one, which was learning how to budget. But the second one is get out of debt. You can’t do anything with your money if you’re drowning in debt.
[Steve Myers] Or you get tied up pretty quick. One of the things that comes to mind, I think, is just trying to determine whether something is a need or a want.
[Gary Petty] Yeah.
[Steve Myers] And determining needs and wants. Is this something that I absolutely have to have or is this something that I want, would like to have? And just sorting through those things in our life can oftentimes just help us to understand – is this really that important? Is this a need, that is something I absolutely have to have, or is this something that can wait, or I can budget for it and do it later? Needs and wants, that’s an important aspect.
[Gary Petty] Well, the booklet actually has a self-buying test where, when you go to make a purchase, there’s questions you can ask yourself in helping you determine, hey, is this really something I need or just something I want?
[Darris McNeely] You know, getting out of debt – for most people it’s consumer debt, credit card debt, usually that is the biggest problem. Mortgages and cars are two things that sometimes are rather acceptable and inevitable. But it’s that consumer debt that kills us. I would say, get rid of it. Do what you have to to get those credit cards off your back. If it’s eating beans and rice – I’ve known people that, they set themselves to get out of that consumer debt – gives them breathing room, hope, and the ability to deal with everyday life. Make it a priority to get out of debt, especially that crippling consumer debt.
[Gary Petty] Watch our Beyond Today program, “Managing Your Finances”. There’s a whole lot of information in there that can help you in getting control of your money.
