Eliminate Debt One Bite at a Time

Are you trying to pay off debt?

Paying off debt is like eating an elephant. It can only be done one bite at a time. I know thousands of people who’ve become debt-free and never met one who regretted it. True debt is money borrowed with no way of paying it back. It’s backed by nothing more than your commitment or integrity. That’s the debt you want to get rid of first, and here’s how you do it. Take the first bite out of the elephant by saving $1000. You need an emergency fund – that’s a cushion, to stop relying on credit cards or borrowing from friends, family, or the church. Save $1000 – period.

The next bite out of the elephant is to pay off your most expensive debt first. The one with the highest interest rate is costing you the most money. If you owe a title lender or a payday lender, or any credit account that’s charging you high interest, eliminate it fast! Those forms of borrowing are created to enslave you and should never be used again. The third bite out of the elephant is to use the money available from paying off the first debt to pay off the next one. Are you ready to go?  Take that first bite…then chew, chew, chew until you’re free of that elephant of debt, and don’t forget: every worthwhile goal that you attempt will be met with resistance and obstacles. Ask God to give you faith, patience, and endurance so that you won’t stop. Imagine how excited you’ll be when you get out from under the stress of this financial weight on your shoulders! One friend told me that he felt like he grew an inch taller!

For more help getting on track, check out Crown’s budget coaching program. It can put you on the road to financial freedom. Go to crown.org and click “Get Help Now”. You can start today at crown.org.