Is it better to get our of debt first or go after your dream career first, then get out of debt?
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I have about 12,000 in debt. This includes some student loans from college, which I have nothing to show for because I just partied, and other debts from utilities and title loan places. I figured that it would take me about 3 years worth of working my normal hours at my job to payoff this debt completely. Right now I am 28 years old, and at that time in which I became debt free, I'd be 31. On the other hand, I have dreams of becoming a professional bowler, and would like to go after this career. I don't have a car at the moment, so I'd save up to get one and then use money from my job to join a league and enter tournaments to try and win money. I fairly good at bowling right now, I usually always bowl a 200 game, but I know there is room for improvement. So, my question is, should I put going after my dream career on hold for the next 3 years until I get out of debt? Or should I go ahead and give my dream career a shot now and hope that I can payoff my debts with the winnings I make from bowling tournament wins?
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Answer:
If you really want to become a professional bowler then you need to pay off your debt first. 3 years is not that long and you are still very young. Like you said yourself that there is still room for improvement in your game, so there is no immediate benefits to go pro. Just to remember your goals: 1. Pay off your debt 2. Save up for a car 3. Improve your game Then, you are good. :)
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Other answers
Sounds like you need to pay off your debt first, and save up enough money for at least 12 months of living expenses. What happens if you quit your job and you don't win tournament money? Were you going to continue going further into debt? Keep bowling as your hobby for now, or enter tournaments on the weekends that don't interfere with work. If you get a second job, you could pay off your debt a lot faster...
spalmer
well in my opinion. I would work to pay off the debts first just because you can not count on always winning. But you can still go out and practice after work or before to get even better then you are now. Then you can keep most of your money after winning the tournaments.
medamouhkam
THE BIBLE SAID IN PROVERB THAT THE BORROWER IS THE SLAVE OF THE DEBTER. Answer In Proverbs 22:7 the Bible mentions the debtor being a slave to the lender. It says "The borrower is slave to the lender." ChaCha! http://www.google.com.my/search?hl=en&ei=jUuFS7G_M824rAfaurz1Ag&sa=X&oi=spellfullpage&resnum=0&ct=result&cd=2&ved=0CAYQvwUoAQ&&q=BORROWER+IS+THE+SLAVE+OF+THE+DEBTOR&spell=1 IS BANKRUPTCY SCRIPTURAL? What does the Bible say? Many Christians feel guilty about seeking to file for bankruptcy protection. They feel guilty because they ran up large debts on their credit cards and now are unable to pay back the money to their creditors. Some Christians feel bad that their creditors will not be paid. Others have heard that the Bible condemns bankruptcy. Yet before we begin, it is important for us to define what is meant by the term "bankruptcy”; then, we can critically examine what the Bible tells us. In the United States of America, our founding fathers recognized the importance of bankruptcy. In the U.S. Constitution, they provided our government with the right to make bankruptcy laws. The bankruptcy laws and procedures we have today, instituted by our federal government, provide relief for overburdened debtors. Persons/entities who are over-their-head in debt can get a fresh start. Normally, a bankruptcy will discharge the debtor’s obligation to repay some or all debts. Bankruptcy contemplates the "forgiveness" of debt. The Bible, likewise, contains debt forgiveness laws. Under U.S. law, a debtor may only receive a discharge of debts in a Chapter 7 bankruptcy once every eight (8) years. Under Biblical law, the release of debts came at the end of seven (7) years. "At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the LORD's release" (Deuteronomy 15:1-2). The Bible refers to debt as a type of bondage: "...the borrower is a slave to the lender" (Proverbs 22:7). Thus, the debtor is a slave to the creditor. Interestingly, the Bible declares, at the end of the sixth year: "...in the seventh year you shall let [your Hebrew slave] go free from you. And when you send him away free from you, you shall not let him go away empty-handed; but you shall supply him liberally from your flock..." (Deuteronomy 15:12-14). Modern bankruptcy laws, like the Biblical provision above, allow debtors to keep certain property when they file bankruptcy. This gives debtors a fresh start and discourages debtors from going into debt-bondage again, after the bankruptcy is over, in order to survive. Jesus taught us that sin is a type of spiritual debt. Jesus also taught us to ask God to "forgive us our debts [sins] as we forgive our debtors [those who sin against us]" (Matthew 6:12, Luke 11:4). Sin creates a spiritual debt. Borrowing produces a financial debt. Regarding our spiritual debt, the law of justice declares: "the wages of sin is death [separation from God]" (Romans 6:23a). However, the law of grace and mercy states that "the gift of God is eternal life in Jesus Christ our Lord" (Romans 6:23b). Jesus paid for our debt of sin on the cross, a debt too big for us to pay. Likewise, economically, the law of justice states that if you agree to borrow money and repay the debt, you must pay back such debt. The law of mercy, on the other hand, states that if you cannot pay the debt back, you may, through bankruptcy, obtain forgiveness for your obligation. As with any act of mercy, someone must bear the cost or the burden, just as Jesus did in dying for our sins. With bankruptcy, the creditor and ultimately the consumers must, in mercy, bear the burden of the unpaid debt, but God said He will bless us for such acts of forgiveness and mercy (Deuteronomy 15:5,10,18). Jesus, in two (2) parables, used the illustration of forgiveness of a financial debt to teach about God's forgiveness and the requirement that mankind forgive (see Matthew 18:21-35 and Luke 7:36-50). "And when they had nothing with which to repay, he freely forgave them both" (Luke 7:42). On a spiritual level, by the grace and mercy of God, Jesus gave us a "fresh start" by canceling all our “sin” debts through His suffering and death on the cross. On an economic level, our nation will graciously help overburdened debtors, if necessary, by giving them a fresh start economically. A guiding principle of U.S. bankruptcy law requires persons who file for bankruptcy to have "clean hands." Accordingly, a debtor may not be freed from debts involving fraud, drunk driving, and deliberate wrongdoing. Moreover, bankruptcy law does not allow the discharge of child support and alimony debts. Further, most student loans, taxes (Romans 13:1,4,7) and secured loans are not forgiven in bankruptcy. Through these restr
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