For millions of Americans who want to get out of debt, the smooth advertisements of the "debt settlement" companies are a little too hard to resist. They promise to settle your debt for pennies on the dollar. They promise to get you out from under credit card bills that you can’t pay. But do they get the job done?
If you are trying to get rid of all of your debt, there are numerous methods available that can be extremely successful. One of the most crucial jobs you need to do to start eliminating your debt is to decide how you are going to set up your budget. One of the most common budget techniques out there is acknowledged as the envelope method.
To get started, you have to list all of your standard expenses. These are the expenses for which you routinely use a debit card or credit card. When you make your list, try to have it broken down into assorted categories like food, personal entertainment, grooming, or gasoline for your vehicle. Then, label an envelope for each category.
In the video posted below, Sharon Epps, an executive vice president with Crown Ministries, gives practical steps on how to save money and get out of debt. Some of the tips on getting out of debt she suggests in the video include....
*Selling Items You No Longer Need
*Reducing Unnecessary Expenses
*Setting Up An Automatic Savings Program
Crown Ministries is a great resource and they always give out solid advice. We think that you will really enjoy the video below....
Getting out of debt has become one of the biggest financial trends in the United States. The reality is that the American people have piled up a gigantic mountain of debt over the last several decades, and now millions are waking up and want out of the debt trap. Christian debt-elimination programs, which use the Bible as a framework to encourage financial responsibility, are surging in popularity across the United States. So why are so many Americans turning to an old book for advice about how to get out of debt in a financial world that is very modern and very complicated?
Well, it turns out that the financial principles found in the Scriptures are very applicable to today. For example, Dave Ramsey's Financial Peace University has (Read More....)
What should you do once you get out of debt? The truth is that many people resume old financial habits after they successfully get out of debt. That would be bad enough during normal times, but considering the fact the we are headed for another Great Depression, it is imperative to fundamentally change how you manage and spend your money after you do get out of debt.
So what should your financial priorities be in 2010?
Well, "Dr. Doom" Marc Faber, who predicted the 1987 stock market crash, is warning that some incredibly difficult economic times are coming and he is advising investors to buy farmland and gold.
Why?
Well, because in the hard times ahead, food will be an incredibly valuable resource. Owning farmland will put you in a very good position (Read More....)
In my previous articles about what the Bible says about debt, we looked at the signs you have a debt problem.In this article we'll talk about what to do about it.
The first step you have to take is to admit that you have a problem and commit yourself to getting out of debt.Psalm 37:21 says, "The wicked borrow and do not repay." (NIV)It is interesting that God doesn't just say it is wrong, or a bad idea, He says it is "wicked." There is another consideration here because of the context of this passage. Is God saying the wicked borrow and not repay because they can't since they (Read More....)
For millions of Americans who want to get out of debt, the smooth advertisements of the "debt settlement" companies are a little too hard to resist. They promise to settle your debt for pennies on the dollar. They promise to get you out from under credit card bills that you can’t pay. But do they get the job done?
