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"Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955."

Permit me to share with you some of my feelings about debt and how it has influenced my life.

God has much to say in the Bible about money.

"Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law." Romans 13:8 (KJV)

"Let no debt remain outstanding, except the continuing debt to love one another." Romans 13:8 (NIV)

This verse has pounded my heart for the last several weeks, and I realize that if I had paid attention and obeyed this verse I would not be in debt today.

I fell right into the "American Way of Life", home mortgage, car payments, credit cards, etc. In 1989 I was debt free with a nice home paid for in Virginia. You may read that story at this link.

As I reflect back on why I chose to enter back into debt, I can honestly say that my original intentions were good, but they were probably sprinkled with pride and greed.

These two basic things are well spoken of in the Bible, and result of reaping what you sow is very true. I only hope God will allow me to become debt free again.

Knowing how He operates by looking at biblical examples of men who disobeyed God, I realize that He allows us to go through extreme trials in our lives, in order to do two things.

One is to show us that victory and hope is available if we trust the Lord.

Two is to help us to be able to teach others from our mistakes.

I guess I could wait until this happens before I write a website like this, but at age 61, who knows how long I will be around.

So my legacy to you is to be honest, share my heart, and help you by keeping you from making the same mistakes that I made.

With my business of real estate investing, I have to have several debt freedom dates. Posted on my wall of my office are four income producing properties which will be paid off.

The first in Sep, 2001. The second and third in January 2002, and the fourth on Mar 1, 2002 So that is a start of my debt freedom dates as I suggest in this site. Most of my other loans are thirty year loans, and when I pay off these loans, I will start applying that money toward those debts.

These properties all produce income from tenants, so my big job is to keep good tenants and to keep the properties occupied. I am working hard on property management, and have made many mistakes in the past in this area also.

Developing your own plan, can be helpful if you want God to use you to teach others. Please refer to the page on using this in your own church. The example of David in 1 Samuel is a good guideline.

1Sa 22:2 And every one [that was] in distress, and every one that [was] in debt, and every one [that was] discontented, gathered themselves unto him; and he became a captain over them: and there were with him about four hundred men.

And finally, you might want to read this story in Matthew about our attitude in paying off our debts.

Matt 18:23-35 Therefore is the kingdom of heaven likened unto a certain king, which would take account of his servants.
And when he had begun to reckon, one was brought unto him, which owed him ten thousand talents.
But forasmuch as he had not to pay, his lord commanded him to be sold, and his wife, and children, and all that he had, and payment to be made.
The servant therefore fell down, and worshipped him, saying, Lord, have patience with me, and I will pay thee all.
Then the lord of that servant was moved with compassion, and loosed him, and forgave him the debt.
But the same servant went out, and found one of his fellowservants, which owed him an hundred pence: and he laid hands on him, and took [him] by the throat, saying, Pay me that thou owest.
And his fellowservant fell down at his feet, and besought him, saying, Have patience with me, and I will pay thee all.
And he would not: but went and cast him into prison, till he should pay the debt.
So when his fellowservants saw what was done, they were very sorry, and came and told unto their lord all that was done.
Then his lord, after that he had called him, said unto him, O thou wicked servant, I forgave thee all that debt, because thou desiredst me:
Shouldest not thou also have had compassion on thy fellowservant, even as I had pity on thee?
And his lord was wroth, and delivered him to the tormentors, till he should pay all that was due unto him.
So likewise shall my heavenly Father do also unto you, if ye from your hearts forgive not every one his brother their trespasses.