Become Debt Free In 4-9 Years


Principle of Giving to God's Work | How to Use This to Build Your Church | Your Commitment | Credit Cards | Snowman Principle | Principle of Rock Salt | Myths and Other Lies | Owning Your Own Home Based Business | Investing for the Future | Books I would recommend you read | Learn From My Mistakes | The Disaster of Indebtedness | Links to Other Helpful Sites | My Web Map-Table of Contents
Credit Cards

Your first problem might be credit card withdrawal. Most folks admit that they do not have this under control. This page will deal with that problem.

If you want to get out of debt, you have to stop doing the things that got you in debt. Charging. The American way of life.

Right now, go cut up and throw away all your credit cards except one. Determine that you will pay it off, and if you use it for emergencies or travel, pay it off every month.

"What if an emergency comes up?" I will show you later on in this website how to handle emergencies without the help of Mr. Visa and Mrs. Mastercard.

Putting down the plastic is much easier than pulling cash out of your wallet or purse, or writing a check out of your checking account.

Impulse buying will destroy your financial plan. Stop doing it.

Now the first step in getting rid of these credit cards and paying them off begins with you sitting down and making a list of all your consumer debts.

We are talking about debts that can be paid off completely. Monthly expenses such as food, utilites and taxes are not to be included in this list. We will attempt to help you control these expenses, but they are recurring expenses and will not be dealt with in this web site.

Now write down each account's balance and the monthly payment. Make yourself a chart with name of the debt, total balance, monthly payment, and pay off priority and number months to pay off.

There are several forms in debt free books to help you with this. I used a course published by a fine company in the North, and it was very reasonable. I will be glad to give you their web site if you would like to order it from them.

So group your debts in order of their size. Smallest to the largest. List all bills, charge cards, furniture payments and car payments.

Now let me teach you what I have called the "snowman principle."

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