"Keep me from the trap that is set for me, for you are my refuge." (Psalms 31:4) One of the key ways to avoid a trap is to be aware and looking out for it. This is so true when it comes to our finances.
One trap is that we have been trained to think only in terms of monthly payments - not how much the purchase is costing us. We assume because everyone else is buying with monthly payments, it must be the right thing to do. Your Dad probably bought his cars and the house you grew up in this way, so you likely just followed in his footsteps.
These common practices around us can be challenging to overcome, however Romans 12:2 encourages us "Do not be conformed to this world but be transformed by the renewing of your mind." That renewing comes by reading God's Word and putting it into practice. With our finances it means to move away from debts and overextending.
How often do we focus on the large print of the monthly payment shown in the ad, and ignore what is shown in the small type farther down with our real cost of the purchase? Consider what that 18% or more interest rate is really costing you, or how much it is to pay nearly 3 times for your home during the time of the mortgage.
Jesus said in Luke 14:28 "For which of you, wishing to build a farm building, does not first sit down and calculate the cost [to see] whether he has sufficient means to finish it?" It is best not to be bound by monthly payments, but when assessing any purchase with them the wise thing to do is to follow Jesus - sit down and see if you will really have the future funds required while also accounting for savings and emergencies.
Another trap that has evolved is the constant use of credit cards, now accepted everywhere including for the very smallest of purchases, even vending machines. The trap is that it is painless to use them, because you're not aware of how much you've spent until the monthly statement arrives, which makes this trap very effective.
Two ways to miss this trap are to use a debit card instead of a credit card, because you can only spend money you actually have - or to keep track of your card spending by recording each purchase and by checking your card statement online at least once per week. This keeping a "pulse" of your spending in real time will prove to be valuable and eliminate the shock when the monthly statement arrives..
2 Timothy 1:7 says "For God has not given us a spirit of timidity but of power and love and self-discipline." In making wise choices, stay away from timid thoughts of self-pity that you are deprived by not having a particular item right now, but instead focus that you are moving towards something - ownership of your finances rather than being a slave to them, being in step with God's will with your money, and the rewards that will come.
Finally, in persevering with your finances be encouraged by what Paul wrote to the Galatians in chapter 6 - "So let's not get tired of doing what is good. At just the right time we will reap a harvest of blessing if we don't give up."
May God Bless you and show Himself greatly to you,
Paul
