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LEVEL 1 — GETTING DEBT-FREE "The rich rules over the poor, and the borrower becomes the lender's slave." — Proverbs 22:7 You probably have a long-term goal of financial security at retirement. But reaching that goal requires building on a foundation of financial stability. That's where shorter-term goals come into play. If you have consumer debt — credit cards, car loans, student loans, other short-term debts — the top priority right now is to pay these debts as quickly as possible. Linked below are articles that will help put your debts behind you. Read these first  The Snowball Principle for Paying Off All Your DebtsBy Howard Dayton Take a cue from Frosty the Snowman — snowballs can be a good thing. Apply this principle to your debt and you too can be a jolly, happy soul. Ten Motivating Reasons to Get Debt-FreeBy Wilson J. Humber Not convinced that getting out of debt is all that important? Check out this Top 10 list on how dumping debt pays big dividends. Resources from Crown Financial Ministries (each is a single-page PDF file) 30-Day Diary for Tracking Income and SpendingStart getting control of your finances by tracking where your money is going. 
Income Allocation FormUse this form to allocate your income by spending category. (For guidelines, use Crown's online budget calculator.) Individual Account PageThis form will help you track each spending category. Debt ListUse this form to make a complete list of what you owe, to whom, and how much the monthly payments are. Supplemental Articles Budgeting Basics 1: Reasons Not To BudgetBy Matthew Pryor If you'd rather not make financial progress, we have some excellent excuses you can use. Budgeting Basics 2: Tracking Your SpendingBy Matthew Pryor Tracking your income and expenses is the first step toward becoming a faithful steward of what the Lord entrusts to you. Budgeting Basics 3: Setting Category LimitsBy Matthew Pryor Making financial progress requires setting limits in each of your spending categories. Here's how. Budgeting Basics 4: Staying the CourseBy Matthew Pryor How do you actually implement a spending plan and stick to it? We offer an overview of several common methods used to stay on budget. One Young Couple's Budgetary JourneyBy Andrew Pryor When you're trying to get out of debt and make a budget work, it's helpful to get insight and encouragement from someone who's been there and done that. Books Debt-Free Living: Eliminating Debt in a New Economy by Larry Burkett (Moody Publishers) Free and Clear: God's Roadmap to Debt-Free Living by Howard Dayton (Moody Publishers)
Welcome Aboard!
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Welcome Aboard! |
