Finance Demon

Has your paycheck not been enough for you to make it through the month, week, or even the day?  While the costs of living are steadily rising, our pay has seemed to remain the same or even decrease.  There is a Finance Demon going house to house trying to prevent God’s children from receiving the blessings the Lord has promised us.  While the demon may not carry a pitchfork or have horns on his head, his financial attack is serious and can lead to financial destruction.  The demon throws unplanned expenses our way to get our mind away from saving and preparing for the future.  The Finance Demon has also tricked us to believe that we should measure our self-worth by what we have.  He places a Spending Spirit inside of us and convinces us to do whatever it takes to acquire more items even if we pay more than what the items are worth.

Payday Loans:  If I pay it back, everything is okay, right?

Some people turn to payday lending companies when faced with financial struggles or when they desire to purchase items they do not have money for.  These companies advertise catchy slogans and provide a “band-aid” relief to an immediate financial problem, but using their services can place you in a worse situation than before you walked in their door.  Payday lending companies are heavily populated in less affluent areas and increase the financial struggle for those that struggle the most.  Normal interest rates for an unsecured personal loan through banks and credit unions may range from 5% – 20% depending on your credit history.  While some of these rates are high, payday lending companies often charge 100% to even 300% or more for borrowing money for a short time.  Imagine that you are broke month after month after month without using a payday lending company.  Now…you happen to take out a payday loan one time and are charged 300% interest!  If you couldn’t make it previously, how will paying back 300% worth of interest correct your financial situation?  While situations can and do happen, sometimes our money situation starts because we just want to have more than we need.

How to fix it:  Resist the Finance Demon and it will flee!

Mark 3:27 states:  No man can enter into a strong man’s house, and spoil his goods, except he will first bind the strong man; and then he will spoil his house.  It is time for our strong men and women to not be bound any more.  Resist the Finance Demon as well as the urge to cater to the Spending Spirit, and it will flee!

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