We’re never ceased to be amazed when we talk to people in the United States about getting out of debt how they hesitate to pay off their home mortgage. They say that they wouldn’t want to lose the tax deduction they get from the interest payments they make to the bank.
But, why don’t they realize that they can use the same amount as a tax deduction if they pay off their mortgage as soon as it is possible and give the same amount they would have paid to the bank for charity?
What a great way to help support various ministries and yet still have their “tax deduction” for the income tax forms and also be better prepared in case you go through difficult financial times! At least your house is paid off.
This is what Steve and I have worked on for years (by making many sacrifices) so we can give more for the Lord’s work and less to banks.
To explain this concept further, we are providing a link to the web site for Crown Financial Ministries that has an article posted which you can read on this subject. We believe you might find it helpful.
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