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Sweat Equity


The effects of Coronavirus has caused such an upheaval to society in ways previously unheard of. Not only are people suffering from the mental stress and strain of adjusting to masks, employment loss, and Stay Home Orders, but financially people are feeling stressed over their bills that are piling up and the possibility of losing their homes. There is a saying, "The only thing that stays consistent is change."

Years ago I wanted to change my financial life and took a class called, Financial Peace University through my church. I fell in love with Dave Ramsey's Total Money Make Over approach to getting out of debt (https://www.daveramsey.com/fpuint_cmpgn=no_campaign&int_dept=fpu_bu&int_lctn=No_Specific_Location&int_fmt=button&int_dscpn=get_started_debt_fpu_trial_may2020&campaign_id=&lead_source=Digital_Content). Dave talks about the sacrifice one must make in order to rise above their circumstances by offering a truism about delaying gratification and that if you are willing to sacrifice your wants today you'll be able to have those things and more later. Just like a home gains value when paying down the debt, Dave reminds us we can increase value by making an effort to control our finances by what he calls, "sweat equity." In the beginning we might see more sweat than savings, but if you continue the value will certainly come.

In light of what has been happening concerning our financial instability as a nation, getting out of debt is even more important today. Consider who is going to survive financially when we look back at 2020 and all that has taken place. Businesses have been forced to close in the midst of a booming economy because of the Covid-19 shut downs. Meanwhile, other businesses are booming. On-line stores, banking industries, and technology companies are capitalizing on the changes, while companies with decades of growth are permanently closing their doors. All this brings uncertainty to employees who find themselves suddenly out of work.

If you are working, pay off your debt now. Get financially free as soon as you can. Be proactive with creating a budget, limiting your spending, and save up reserves for tomorrow.

In one of William Shakespeare’s most well known plays, “Hamlet,” Polonius is teaching his son to not borrow money from a friend,

“Neither a borrower nor a lender be; for loan oft loses both itself and friend. And borrowing dulls the edge of husbandry. This above all: to thine own self be true. And it must follow, as the night the day. Thou canst not then be false to any man.”

What does this mean? Be in control of your money so that you won’t have to borrow money in the first place; and secondly, don’t borrow from or lend money to a friend because you might lose both.

"Just as the rich rule the poor, so the borrower is servant to the lender."

Proverbs 22:7 (NLT)

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