Sermon On Debt Free Living | The Main On Main

Living A Debt Free Life

Sermon On Debt Free Living | The Main On Main – Everyone would like to get riches, to be rich and live a comfortable life. We are living in a society that dictates our success and future by how wealthy we are.

We strive hard to work smart, invest and make positive progress in life that will lead us into the right path as we fulfill all our goals and aims in life.

How lots of you are now fighting debt? Maybe it’s from student loans or maybe it’s because of credit cards. No matter the reason may be, this needs to be the year which debt free living becomes a priority. This needs to be the year that you just tell debt goodbye for good.

We can chat about the way we need living, however, it requires more than just talk. It takes action. Kicking debt from your life is not as hard as you may think. It merely requires a good strategy and a great deal of dedication.

Debts can seriously violate your financial progress and enable you to wallow in the pool of doubts and concealing from your friends or cooperatives that you are owned. What exactly do you have to do to begin your trip to debt free living? It’s simple, you need to follow these eight steps.

Step 1. Know that you have invoices to settle and pay them enthusiastically

As long as you reside in the modern world, you will have bills to repay. When you get your accounts, kindly choose a daring step and cover enthusiastically. You have to be willing to settle everything you’re owned.

It’s an issue of fact which you should not pay unnecessarily. In the event you pay painfully, you’re just dance to the tune that the money is hard to buy and you are not happy with the turnout of items.

Step 2. List out all your debts

Start by listing out all the debts by their own rate of interest. The highest rate will be at the very top of your list. Why? As it is the debt costing you the cash each month.

Now you have everything on paper, you have a visual concept of what is ahead of you. You’re able to see that debt you’re going to focus on first, next, etc down the record.

Step 3. Start setting up an emergency fund

Do you have an emergency fund set up for yourself? If not, it’s time to get a savings accounts.

Emergencies are sure to happen to most of us. It might be dental function that insurance won’t cover. With a rainy day fund, all these jolt expenses will not cause a significant setback to your financial plan.

So how much should you have on your emergency fund? Some folks will tell you which you want three to six months worth of expenses. While this is a great long-term aim to get, it isn’t reasonable whilst paying off debt.

Rather, start off small putting away money each month until you have $1,000. This is a good place to start.

Step 4. Place Your Accounts on autopilot

Automatic payments are among these ways. Instead of making a payment each month on each bill which you have, you may set it and forget it.

There are several benefits to automating your lifetime. Not only will you make things much easier on your own, however you’ll reduce the danger of having a payment. The last thing that you need as you are working so tough to repay debt would be a wasteful charge.

Step 5. Downsize your lifetime — temporarily or permanently

The last thing a lot people want to do is eliminate the things we like. But, there are times when it’s the best action to take.

Start by taking a look at the budget you’ve created earlier. Are there things you could do without, even if it’s just while you’re paying off debt?

What on your cable television? Did you know the typical cost for DirectTV is approximately $101 a month? With options like Sling TV or even Netflix, you may cut the cord and never go back.

Are you spending too much money eating out? The average American will pay $232 a month eating a meal outside of their house. Imagine if you cut in half? The extra $116 monthly may be quite useful for your debt payoff plan.

Step 6. Transfer your credit card balances

Many of you have likely ditched your credit cards at this time. But you may be surprised to know that a charge card may really be to your benefit.

In case you’ve got many high-interest balances, you can use a balance transfer to move everything to a single card. Most balance transfer credit cards may come with a introductory 0% APR offer. This will help you pay down your debt with no accruing finance charges on the way.

Step 7. Track your spending

The key to living a debt free life is to clearly understand how much you invest and the amount you save in precisely the same time. You must track your cash flow and at the conclusion of the day that you will be able to know and have confidence of all your fiscal spending.

Step 8. Have a look at your insurance and review it

Financially and debt advisors always tell their clients to be keen in their insurance and examine its plans always. You will need to look over your life insurance requirements. You need to follow it to test it covers more than 10 times of your earnings. In case you have children less than ten decades, then the life insurance must also cover on debts incurred from the larger family.


These are the most proven ways which will readily assist you get out of debts. You want to develop a plan and understand that invoices are there to be settled. No matter which money you borrowed, so be willing to pay as per the order of arrangement and not about pilling debts because they’ll come to affect you later in life.