Pay Off Debt – Part 01

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!


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  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.



  1. » on September 10, 2007 at 6:14 am

    […] Pay Off Debt – Part 01 […]

  2. Moneymonk on September 10, 2007 at 8:58 am

    Good post Joe! Same here I had $700 a month going to my debts! It will be all paid off next year 2008.

    I told my husband, from there will have 2 options either pay off the house early or move up in house !

    Either way is a win win.

    You see when you get your partner involve with the dreams then he is more willing to get out of debt. You have to have a dream or a motivator to get the person on board and make it work.

    Before he never had a reason to get out of debt.

    Have a goal!!

  3. Tiffany on September 10, 2007 at 8:19 pm

    Fear of not having enough money in the bank has kept us from continuing to pay off our debt, as well as a major job change. We’ve been holding off until things smooth over, but we miss the thrill of putting a lot of money down on our bills each month. We’re currently paying roughly $700 per month on debt payments, and that’s just minimum payments!

  4. » Pay Off Debt - Part 05 on November 6, 2007 at 6:36 am

    […] Step 1 – Understand WHY you want to become debt-free!  You greatly improve your chances of becoming debt-free when you understand the reasons that you are making sacrifices in lifestyle! […]

  5. Linda on December 22, 2007 at 8:17 pm

    This is one of the most realistic and simple to understand blogs about debt. It is nice to know someone has been there and understand how I feel. Yes, That was me fear of not having enough so I would spend it instead of save it. Fear make you do the opposite. Now I just pay the bill, then there is nothing to fear, cause its all gone to bills.

Leave a Comment