Credit card debt is a weight that 50% of Canadians carry month to month in their money journey. How does such a convenient tool become harder and harder to pay off? Reb and Dave discuss how the concept of minimum payments and accumulation of interest on missed payments make it harder to repay the debt. Episode #419 of “Let’s Talk Money with Dave and Reb” encourages listeners to be aware of how credit card debt can impact financial and spiritual well-being in the long-term.
“Credit presumes on the future. It is a convenience and allows us to make the purchases we want,” says Dave. “The danger is that we have the ability to very easily spend more money than we have in our bank accounts.”
Tune in to the show today to hear their conversation which is sponsored by Financial Discipleship Canada and notmine.ca—a ministry to the body of Christ that voices and encourages dialogue and new conversations regarding finance and discipleship. To learn how you can connect your finances to being a disciple of Christ go to https://www.financialdiscipleship.ca/.
To order Reb’s new updated book, Cultivating Trust Expanded Edition: Finding God’s Hope and Freedom for Your Finances, go to Cultivating Trust Expanded Edition.
To read more about what happens when you don’t pay your credit card go to https://www.creditcanada.com/. To read the article mentioned in today’s show go to https://www.creditcanada.com/blog/what-happens-when-you-dont-pay-your-credit-card-in-canada
#taxes #morethanenough #finances #money #financialfitness #credit #debt