CP
Carrie Pierce & Associates Newsletter
Seattle Magazine Five Star "Best in Client Satisfaction" Award Recipient
Christian Edition
September 2009
In This Issue
Family and House
Debt Trap
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Carrie Pierce
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How to Start a Family While Saving to Buy a House
 house
Proverbs 21:20 In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.
 
How should a couple incorporate planning a family and planning a budget to purchase a home?  This is a great question and the key here is being able to afford a house based solely on your husband's income. If you go to buy a house right now, the mortgage lender will tell you that you can afford a very large mortgage, because they are assuming that you'll have both incomes forever. 
You know that's not true, so you need to figure out how much house you can afford on just income.
Keep Out of Debt
debt
A key financial principle of the bible is to keep out of unnecessary debt and thus avoid the debt trap. Borrowing for a house or car is one thing but taking on financial obligations one can't keep-buying beyond the ability to pay-is another. Psalm 37:21 says "the wicked borroweth, and payeth not again." The minute a person goes into debt, he loses a portion of his freedom. Be a smart servant of God and think twice when borrowing money for things like credit cards, furniture and electronics.  Securing a loan for a house is not a bad thing but just as long as the debt doesn't own your life.  Click below for more financial principles that are biblical.