In this series of posts, I want to equip you to become debt-free!   Jenn and I became debt-free in 14 months by following this process, and I can tell you this - there is NOTHING like living life without the trappings of debt!

Let's review the first step.

Step 1 - Understand WHY you want to be debt-free!  If you don't have a clear understanding of why you want to become debt-free, you will have a very tough time sticking to this effort.  When you know WHY, you are able to stand firm against the temptation to acquire more debt.

I hope that you have taken the time to write out your hopes/plans/dreams for your life.  Again, I cannot overstate the importance of writing this out on paper!

Step 2 - List your debts

During financial counseling sessions, it is a guarantee for any person who has debt that I will calculate their debt freedom date.  You should see people's reactions as I put together a list of their debt!  Their reactions relay to me the true facts of debt.  Here are some very common reactions that I see/hear.

• Hiding their eyes
• "Oh no!"
• "I've never added it up."
• "This is scary."
• Moving to a defensive position as if to guard themselves against the debt
• Turn their head so they don't have to look at the debt total
  

I KNOW that it can be scary to total up debt.  The mere fact that it is so scary tells me two things:

1.  People do not like debt.

2.  People have not been paying attention to their finances and do not have a well-defined plan for their life.  Otherwise, they would not have incurred most of the debt.  It is literally ROBBING them of their financial future!

Here is what I say to them - "If you don't know how many heads the dragon has or how large the dragon is, how can you effectively defeat it?"

It is time to slay the dragon.  Use THIS FORM to prepare a well-organized list of your debt.

Question of the Day:  Why is it so scary to total up debt?

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church - class begins on Wednesday, September 19 and costs only $20 per household - childcare provided!  You can sign up and pay on-line HERE.

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Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

I have found that a vast majority of those who sign up to attend the Financial Freedom Class or the Financial Learning Experience are living paycheck-to-paycheck AND carrying debt.  In fact, statistics from surveys I have recently conducted show that 72% of those attending my classes are living paycheck-to-paycheck.  Of those 72% living paycheck-to-paycheck, 24% are BEHIND on payments.

Only 3% felt that they are doing well financially.

This is a NATIONAL problem.  No matter where I go, I see the trappings of debt - marriages failing, stress, depression, and hopelessness.  And all of this is happening in the wealthiest country on the planet!  This is entirely unacceptable!

So, as part of my crusade to help America become debt-free, I am going to share the process I followed to become debt free.

Before I get started, I want to ask you these questions.

• Would you join me in my crusade?
• Would you share this with others?
• Would you commit to become debt-free?

I WANT YOU TO BECOME DEBT-FREE!!!  It changes your life!  It enables you accomplish far more than you ever thought possible with your personal finances!  It allows you to go do exactly what you were put on earth to do - regardless of the income!

Step 1 - Understand WHY you want to be debt-free!

I believe this is the most important step in becoming debt-free!  In the hundreds of financial counseling sessions I have held, it is amazing how many people do not have a plan for their lives.

I ask them, "Why do you want to win with your money?"  and they stare at me like I am from outer-space.

"Why?", they stammer back at me.

Seriously, I believe that it is the first time that many of these people have ever seriously thought about what they want to accomplish with their lives.  As a result, they are bumbling through life just "trying to make it through the day".

What a miserable way to live!

I cannot overstate this fact - IF YOU AIM AT NOTHING, YOU WILL HIT IT EVERY SINGLE TIME!

When Jenn and I wrote down our hopes and dreams on paper, it opened our eyes to the fact that our money management (or lack of) was literally ROBBING us of our future!  We wanted to move back to Anderson, SC to take a job that paid way less than what we were making, but every single dinner at Outback was robbing us of that opportunity.  Every single debt payment went off to make the bank wealthy while at the same time robbing us of our God-given dreams!

That made me MAD!  It made me FURIOUS!  It made me realize how incredibly STUPID I was to be managing our money so crazily!  I had $755 PER MONTH going out to pay car debt, credit card debt, and student loan debt.  Add in the stupid house payment, and I had over $1,700 per month running off to make the bank wealthy!

By writing out our hopes/dreams on paper, Jenn and I were motivated to manage our money differently.  It caused us to view debt differently.

Are you ready to get rid of your debt?

Take your first step today by print out THIS FORM and filling out your own hopes/dreams.  If you are married, you need to do this separately and then take time to discuss it with each other.

By the way, one of my hopes/dreams is for you to become debt-free!

Question of the Day:  What has kept you from attacking your debt?

Read Joe's recent blog posts 

Have you subscribed to www.JOESANGL.com?  It is easy to do so.  Just click HERE!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.