Category — Debt Reduction

Of all the things that people think of when it comes to finances, debt it usually near the top of the list. Many people dream and aspire to get out of debt. There are many strategies for getting out of debt. Many financial gurus have their own “key” to becoming debt free. I’ve read a lot of books and I’ve been to a lot of seminars on finances and I like the plan made popular by Dave Ramsey the most. Dave has a plan called the debt snowball. The debt snowball is a very simple plan that anyone can follow.

There are 3 simple steps:

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This is part 1 of a series on your personal finances. Part 2 can be found here
Whether you want to believe it or not, you own a business. “What? I don’t own a business.” Yes you do. If you have any type of income, then you have a business.

Each of us is a manager over whatever resources that we have. The word manager comes from the Greek word oiknomos. Oiknomos is translated as manager, overseer, one who has charge of the affairs of the household, an office of trust and confidence. So each of us are responsible for the resources that we have. We are overseers and officers of our businesses. You have a business and you are its manager!

As a manager, you have two decisions. The first option at your disposal is that you can be wasteful. You can disperse, scatter, squander, and waste your financial resources. The majority of us seem live this way. Over 75% of Americans live paycheck to paycheck. Paycheck to Paycheck! Who wants to live this way? I know I don’t! If you are in the majority that does live from check to check then you are on the right track by coming to this blog. Stay with me and I can free you from that prison! The average American has $38,000 of consumer debt (that’s not including the house) while the average household income is only $40,000 per year. That is insanity!

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