BYE BYE GM MASTERCARD

I just got off the phone with the Mastercard folks. We canceled our GM Card today. Only one card left to close. The kind gal on the phone reminded me that I had been a great customer for 8 years and my account was in "good standing". This was the card Cole and I got shortly after purchasing a brand new GM SUV. We had this grand idea that we'd work up a credit in points with this card so next time we'd get a better deal on a new car. In the meantime we'd have a place to go in case of an emergency. Cole's still driving that car. It turns 10 in September. Little did we know that we would cancel the card 8 years later having never used the 2800 points we had collected to purchase another new GM vehicle.

We will most likely never purchase a brand new vehicle again, due to the huge depreciation loss suffered immediately. Perhaps when we've completed Baby Step 6 in the Total Money Makeover we might splurge but until then, I don't need the points. I just want to quit the card. I also feel a little bitter towards GM (Government Motors) after their begging the US Government to save them from their own foolishness. I have always been a "Chevy Guy" but, that just rubbed me raw. Yet, that is not my purpose in writing.

I am struck by the thought that we entered into the Credit Card Scam for security. It was the "In Case of Emergency" fall back. What a joke that is. Credit cards are not any security at all. Follow this with me, We have a money crisis, we're broke, so let's borrow money to get out of this immediate crisis. When the next crisis comes we still haven't finished paying off the first and we get further in the hole. It doesn't work! Check the back of any US Currency. It still says, "In God We Trust!" I've asked the question before but, I'll raise it again, "Where does our security lie?" The Bible makes it clear that borrowing money is a bad idea. "The borrower is servant/slave to the lender," Proverbs 22:7. So relying on debt (credit cards) for security is not the place. Your security can only be found in the one True God. God alone is big enough to sustain us. He gives us His Word (The Bible) to guide us through life. Credit Cards will only make it worse in the long run. And living on credit you won't run very long.

The Bible is clear that rather than being in debt we should save and prepare. The story of Joseph is a good example of God commanding His man to save and store up. God knew the famine was coming and He ordered Joseph to store up food. Sure enough famine came and everyone rushed to Eygpt because Joseph obeyed God and stored up food! When the financial famine comes in your world will you be ready? Don't think your invincible! Financial famine will come to your world. It hits us all at some point. Store up for your financial famine so when it hits you are prepared and don't have to try to borrow your way out of trouble. It doesn't work.

Some of you are ready with your own scripture about not storing up treasures on earth but in heaven. Larry Burkett used to say that the difference between saving and hoarding is attitude. I am not suggesting we hoard and become like Scrooge. Someone like Scrooge "Loves" his money. That would be hoarding. I am suggesting that we take responsibility for our own house and protect it from the coming financial famine by building an emergency fund as Dave Ramsey lays out for us. 3-6 months of living expenses. Dave points out that when the emergency fund is in place and fully funded, it is amazing that suddenly we stop having emergencies. Perhaps we just redefine our emergencies! Imagine life without payments and 6 months of living expenses in the bank. Gentleman, your wife will be much happier! Suddenly the crisis of being laid off from work becomes and opportunity to change your career for the better. Something to stew on. It can be done. It is working for us. Press on in your journey!