Don’t Fall for the Traps

Everything comes at a cost.

What is it worth to you?

Free money may seem like an attractive offer, but it often comes with hidden costs and consequences that could make it more expensive in the long run. We’ve all seen this very thing recently play out with the COVID relief/stimulus checks. We are now paying quite a bit more for our everyday necessities with the outrageous inflation. Free money (from the government, a company, or an individual) may actually take away your freedoms as accepting it may bind you to the demands of others (i.e. to get this money, you may need to do or not do x, y, or z, or it will cost you more in the long run). This does not allow you to be free.

The goal is to achieve sovereignty, total independence, and self-reliance.

Most people have a hard time seeing past today. If you need money, explore all options such as low-interest loans and work-study programs before accepting “free” money from any person or entity. 

Free money is often the most expensive money.

Free money may provide temporary relief, but it's important to weigh the long-term costs and consequences before accepting it.

Additionally, do not lend money! Per Dave Ramsey, this is the fastest way to ruin a relationship. Only lend what you can afford to lose. Is this amount worth losing your friendship over? He suggests, if someone asks to borrow $100, instead you can say, “I cannot lend you $100, but I could give you $10 or $20 (or whatever amount works for you), and you don’t have to pay me back.”

For financial planning information, options, and directions, take a look at the Make a Plan page.

For ideas that can help with saving money, check out the Budgeting, Saving, Groceries & Gas, and Recipes pages.