Financial counselor Jan Thompson says there is always room for improvement in your finances.

Don't be satisfied with mediocrity. Get to the point where at whatever level of income or net worth

statement you have, you are truly working towards significance. As long as there's debt in your

life and you are not putting God first in

your finances and not tithing, you will always, always, always be in a survival mode.

This is Revive Our Hearts with Nancy Lee DeMoss for Thursday, July 30th.

Thank you. Jan Thompson saw trouble coming back in 2006 when Nancy Lee-Demoss interviewed her in front of a group of women.

Jan anticipated some challenging times ahead.

The advice she gave on avoiding crisis is just as important today as so many people try to dig out of a crisis.

Let's pick back up on the conversation between Nancy and Jan Thompson.

There is a difference between debt and obligation.

Debt is making payments on a depreciating asset or being delinquent in an obligation.

So let me tell you what I quantify as an obligation.

Obligation is making systematic payments on an appreciating asset.

Such as home. It's typically a wonderfully appreciating asset. Such as home. It's typically a wonderfully appreciating asset. I go so far as to say if the

only way to get an education is to, for some student loans, I believe that's an appreciating asset.

If you look at the earning power of a student with a college bachelor's degree, it is substantially

more than someone without one. Now, get that paid off as quickly as possible, but it's got tax-favored

benefits to that student loan, et cetera. But the moment I've taken that obligation and not made a timely

payment, I was delinquent in paying my house payment this month, then I've turned

that obligation into a debt. And I've now gone onto the side where I'm not honoring the Lord

by managing credit wisely. And when we talk about college education, I think you would be quick

...