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Frequently Asked Questions

What does BeatingDebt.org do?
What will BeatingDebt.org do with the money I donate?
Does BeatingDebt.org give out investment advice?
When does BeatingDebt.org believe a person is out of debt?
Why the running analogy?
Why did BeatingDebt choose Hebrews 12:1?
What is "Debt Evangelism"?
Why include volunteer opportunities in your objectives?
What does "Anti-Consumerism and Pro-Sustainability" mean?

What does BeatingDebt.org do?

- BeatingDebt.org is a non-profit, tax-exempt organization that creates educational public service advertisements, provides financial accountability groups, and an interactive website for those families/individuals that are dedicated to reducing their debt. BeatingDebt.org organizes web users to encourage our community to stay away from debt.

What will BeatingDebt.org do with the money I donate?

-BeatingDebt.org uses every donation to purchase advertising space for its Educational Ads Project, develop our Keeping Pace Accountability Groups, and maintain and improve the website so users can share, track, and encourage others to beat debt. If you can, please help us. No contribution is too small. BeatingDebt.org is a non-profit, tax-exempt organization that is bound by law to use every donation for operations.

Does BeatingDebt.org give out investment advice?

-BeatingDebt.org does not give out investment advice. We are a group of families and individuals dedicated to reducing debt, so that we can enjoy the freedom that comes with being debt free. We encourage users to share their advice on ways to reduce their debt, so that the group benefits and enjoys less debt. Our conversations and advice should be limited to those guaranteed, Biblical ways of reducing debt.

When does BeatingDebt.org believe a person is out of debt?

-BeatingDebt.org believes that an individual can celebrate their freedom from debt when all collateral and non-collateral loans are paid off except for mortgage. Though the mortgage is the greatest expense to the family and the largest amount of debt in this country, we believe it is a necessary expense to have a roof over your head. In the first 30 years of a person's wage earning years there will be the expense of housing in any budget due to rent or mortgage. Therefore, we will not deny the title of "Debt Free" to a person that has paid everything else off and is now free to invest for the future heavily and/or start paying off the mortgage.

Why the running analogy?

-BeatingDebt.org chose a running analogy because everyone can understand running in a race. Also, everyone can run in a race. It does not require great talent to place one step in front of the other repetitively until the goal is met. In similar vein, reducing debt is not for the talented or well-bred. Everyone can do it. It just takes commitment to do the small simple things repetitively until the goal is met.

Why did BeatingDebt choose Hebrews 12:1?

The answer can be found here.

What is "Debt Evangelism"?

-"Debt Evangelism" is a way for concerned citizens to make an impact in their local economy to help educate their neighbors on the evils of overspending and debt. BeatingDebt.org encourages our Keeping Pace groups to periodically sponsor an event to creatively make a public display of education against consumerism. Through our public efforts we will be able to be an opposing voice to the corporations that encourage families to buy, buy, buy. In addition, this is in line with the 7th principle to beating debt. For an example, click here.

Why include volunteer opportunities in your objectives?

-BeatingDebt.org believes there is a real connection to time and money. Our society has no time for the less fortunate, because we are so busy earning and spending. We must strive to re-educate people on the need to not forget about those less fortunate. By including volunteer opportunities through our Keeping Pace groups, we encourage "wealth appreciation training", so that families can learn to spend less and give more. We encourage our Keeping Pace groups to periodically sponsor an event in order to keep everyone focused on the true nature of Jesus Christ, "Loving your neighbor".

What does "Anti-Consumerism and Pro-Sustainability" mean?

Anti-Consumerism: BDO believes that one answer to solve the consumer debt problem is to reverse the culture that "buying stuff brings happiness" or in other words educate people about the dangers of "Consumerism". More info on Anti-Consumerism here. Also at Proverbs 21:20.
Pro-Sustainability: BDO also believes that by creating a financial system that is sustainable to the available resources will aid in protecting families, finances, and even the environment. More info on Pro-Sustainability here and here. Also at Proverbs 22:7.

User Supported:

"One man pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth" - Pvbs 13:7 NIV