We're Finally Debt Free!

We're Finally Debt Free!

The figures above was the last debt we incurred in the hope of improving our credit after recovering from a financial collapse. What an irony, huh? Of course that realization came after a lot of 'educated' advice. That realization will be another blog. In the meantime, I wish to share with you what helped us become debt free.

Be Faithful In Your Tithes. I believe that even when your finances are tight, you should give God what is due. Besides, everything you have came from Him. He doesn't need it, but it shows you're dependence on Him and your obedience. He will bless You as He promised.

If you're able to give more than your tithes, continue to contribute to your favorite ministry or organization. It is a good reminder that there's always someone who's more in need than you.

Establish A Budget. I thought it was enough to know how much was coming in, and that I just needed to 'eyeball' our expenses since I knew what they were. Before having a budget, there were a lot of times we ended up with bank overdraft fees. You will never really know how much expenses you  have until you write all of them down...everything. 

It took about three months until I developed a working budget. It was a struggle, but I was determined. The Every Dollar app by Dave Ramsey is what worked for me. Instead of bank overdraft fees, we've found extra money to put towards our debt. 

If you don't have a budget and you want to get serious about becoming debt free, you have to start one right now. 

Write Down Your Goal. I believe that when you write your goals down, you are more committed to them.  They become your priorities. You will make sure they'll get done, especially if you place it somewhere you'll always see them. 

After writing them down, make sure you share your goals with someone you trust. It is very important when there's accountability attached to it. If you want to keep it private, use a tool to track your progress. In our case, it was & still is Dave Ramsey's Baby Steps. As you get closer to your goals with the timeline that you have established, you get motivated as you see the results. 

Be Content. This isn't a tool, but to have this attitude while you're starting your journey to becoming debt free is very important. 

It seems easy, right? Well, it is. But if you're still struggling up to this time, maybe it's time to get to work and by that I mean take a pen and paper and start planning.