The Debt Free Program

For you who are in debt, here are the steps to a debt free program that will get you back on your feet and set your financial life in order.

Step One
Do not buy anything else on credit. Cut up those credit cards and stay away from the low rate financing deals. The last thing that you need right now is to keep piling it on.

Step Two
Put together a monthly spending list. You must determine exactly where all of your money is going before you can manage it.

Step Three
Pay all essential bills and the minimum payments on debts. You have to keep food on the table, a roof over the family and the utilities on.

Step Four
reduce your spending. You must spend less than you make. This sounds very simple but it is why we all get into trouble.

Step Five
Save an emergency savings fund. You must have some money set aside for the unexpected things that creep up on all of us. One thousand dollars is sufficient.

Step Six
Eliminate credit card debt and all other unsecured debt as quick as possible.

Step Seven
Save for a complete emergency fund. The fully funded emergency fund will be enough to cover 3 to 6 months of expenses and not less than ten thousand dollars.

Step Eight
Start your retirement investing.

Step Nine
Invest in a college savings plan if you have children.

Step Ten
Pay off secured debts.

Step Eleven
Invest and help others.

All of us are somewhere along these debt free program steps. Pick out where you fit and start from there. Do not jump ahead and work on steps that are ahead of where you are. For example, if you still have unsecured debt, do not move past step six.

The debt free program will work, but it is up to you. No one can do it for you.


Leave The Debt Free Program and learn about the Philosophy of Household Money Management.

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