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Debt Elimination Ideas

Now that most of us are in debt because of the Christmas season, what are you going to do to get rid of your debt? I need some debt elimination ideas. Are any of you guys already debt free?

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 ---Stan on 12/27/06
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Suzie, I dont think joe was counting his mortgage as debt. My mother always said make one extra mortgage payment a year and it will take years off of your payments. :-)
---Todd1 on 5/28/08


I do not have anymore credit cards, and paid cash for all of my Christmas shopping.

Lock your credit cards up and only use them for real emergencies, like a flight to visit a very ill relative, or a car repair that is necessary to get the car back on the road.

Make a budget and stick to it. Get a second or third job.

I have three jobs. I am paying down my debt with the help of a debt consolidation company.
---Madison1101 on 5/27/08


"Avoid debt like the plague." - Ellen G. White
---jerry6593 on 7/28/07


I think the best way to stay out of debt is to always spend less than you make and pay cash for everything. Those are two debt ideas from my Pastor.
---Sue on 7/28/07


If you pay a little extra to your house each month, that will take off a few years. If you make payments twice a month instead of once a month helps. Make your full payment when due, and two weeks later make a half payment, then half payment twice a month.
---Rev_Herb on 1/7/07




30 years ago I destroyed all credit cards and vowed to pay cash and otherwise go without. Best thing I ever did. Hard but it works. Scriptures say "owe no man nothing except brotherly love"...Dr. R.E. Davis
---Dr._R.E._Davis on 1/5/07


I'm still waiting for Joe to let me know how he got his home paid off. We tithe and give offerings and do not live beyond our means. But, I just can't figure out how to get our home totally paid off so we would be debt free.
---Susie on 1/4/07


Solutions may be strict at this time, however your family needs to refrain from some non-essential activities for a short period of time. Use that money to make debt payments. I will suggest consolidating debts so that you can have one big bill with a reasonable payment that you can afford. For the future, save some money and only spend on what you know you can afford.
Blessings!
---Maria7845 on 1/2/07


Joe...I have one question. How did you finally get your home paid for? Is there a good way to pay down the principle?
---Susie on 1/2/07


Yes my wife and I are debt free. Sinple formula follows. First: Tithe your gross not net income. Second: Give freely," let not your left hand know what your right hand giveth". Third: Don't live beyond your means. God bless you.
---joe on 1/1/07




May GOD bless you in your effors of getting rid of your debts.

If you have more then one debt - start with the smallest and go up to the biggest. This way - once the small debt is gone - you have money to add to the next greater debt in line.

I hope you have a Happy New Year & Blessed 2007
---john9679 on 12/30/06


Ya know, this is why I get so depressed these days around Christmas. It's SO commercial. People spending so much $ that they go into debt! But I totally understand, I used to do the same when my kids were little. It took me until they are all grown up to realize this is not really what Christmas is all about. The only way to get out of debt is to quit spending $ u dont have.
---sue on 12/28/06


I am debt free because I begin very early. Early begins with the after Christmas sales, then all yar long I purchase through sales. I had had a huge debt and went through a Vredit card counseling agency which got my interest rates lowered and I made payments to them for four years. I no longer believe in credit cards because it is too easy to run them up.
---Mary_Ann on 12/28/06


Why would anyone go in debt for Christmas? That makes no sense whatsoever. Now that you are in that predicament though, the best way is to stop eating out entirely. If you spend $20 a day on eating out that adds up to at least $600 a month. Think about that! A lot of people eat out a lot. Stop using credit cards for anything. Pay more than the minimum payment on the credit cards. Get rid of the cell phones and cable. In otherwords, get rid of unnecessary things.
---Sally on 12/28/06


Stan ... perhaps an easier option than working very hard to sort out your financial obligations would be to go and rob a bank.
---alanUKquent64534 on 12/28/06


Why should anyone be in debt 'because of the Christmas season'? Christmas is not a time when we HAVE to spend money. If we don't have it we shouldn't spend it. Mortgages, rent, electricity, food, all have to be paid for but not unnecessary gifts and more food than we need. How can anyone have had a 'happy' Christmas if they got themselves into debt over it?
---m.p.a. on 12/28/06


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The first thing you need to do if you do not do so is TITHE. The second is to give special offerings. The third is to believe that God will meet all your needs according to His riches in Glory. The rest is just practical common sense, use cards for emergencies only, use cash for everything, don't spend beyond your means.
---betty8468 on 12/28/06


Stan: I am a full time teacher during the day from Monday to Friday. Every other weekend, I am a therapist at a psychiatric hospital. I recently started a part time job as a therapist three evenings a week, after school.

I kept a similar schedule in graduate school, with further commuting then. I am blessed that my part time evening job is in the same neighborhood as the school I teach in, so it is extremely convenient.
---Madison1101 on 12/27/06


How in the world to you work three jobs to pay down your debt? That sounds like too much work.
---Stan on 12/27/06


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