Cutting Out Credit

November 6, 2012
by Rodney Olsen
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I was interested to read yesterday that Australians are ditching credit cards. Maybe not completely but we’re on a downhill trend.

New figures show card applications have hit a nine-year low.

Credit reporting agency Veda’s consumer credit demand index for the September quarter found that year-on-year, applications for plastic are down a staggering 10 per cent.

Veda’s general manager of consumer risk, Angus Luffman, says there are several reasons why people have moved away from unsecured debt such as credit cards. – News.com.au

I’m glad that the tide is turning because I know a lot of people have found themselves in a lot of trouble by overextending themselves with credit cards. We’ve had many offers to increase our credit limit and while it’s tempting when you see the kind of money that we could have at our disposal, we just know it spells trouble.

So, are you one of those opting out of the credit trap? Have you cut up your credit cards?



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Termites Chew Through Millions

April 25, 2011
by Rodney Olsen
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I was interested to read today that police in India are investigating a rather strange bank robbery.

According to several news sources, termites have apparently broken into a bank’s strong room and eaten their way through an estimated 10 million rupees in bank notes. That’s over $200 000 in Australian dollars.

Staff at the State Bank of India in Arthur, near the northern India city of Luck, opened the steel vault to discover that termites had been lunching on a steady diet of Indian currency.

It seems that the building which houses the strong room was riddled with termites. Termites had previous damaged bank furniture and documents before turning their attention to the strong room, where cash was stored.

For such a small creature they seem to have incredibly expensive tastes.

Matthew 6:20-21 (New Living Translation)

20 Store your treasures in heaven, where moths and rust cannot destroy, and thieves do not break in and steal. 21 Wherever your treasure is, there the desires of your heart will also be.

Maybe we need to add termites to moths, rust and thieves.



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