7 Principles to Beating Debt

Once you decide to beat debt in this financial race, then you need to write it down, post it everywhere, talk about it with friends and family, and let the goal soak in. This will help your mind believe in the goal, allow your heart to see the great good of the goal, and enable your friends and family to encourage you along the race.

2. Hire the Best Coach

There is no better coach for a tough race than Jesus Christ. Beating debt will reduce your stress and increase freedom only temporarily if you don't have the good coach guiding you. Make sure Jesus Christ is your coach for this race. Hire Him today by choosing to follow Him.

3. Make a Plan

You cannot get where you want to go unless you have a map. Create your map or spending plan that allows you to balance your budget, save for the future, and beat debt.　 This balanced plan of your finances will allow you to chart a course to your destination that will explain where you want your money to go and how much time it will realistically take to accomplish your plan. Share this plan with your friends and family, so they can be creative as well in your solution to beat debt.

4. Use the right equipment

You can use a variety of tried methods from envelopes to a simple spreadsheet program to elaborate financial management software. All are available for purchase and recommended by the greats. Like a good pair of running shoes, you must find what works for you. With that equipment, you must be able to use it well to sustain you through the many calculations that must be made along the race to make sure you are on pace with your goal.

5. Train for Short Distances

Find areas where you can increase money received or decrease money spent. This way, money can be applied to the first debt you are trying to beat. Many of the experts recommend the bill with lowest amount owed or with the lowest interest rate. However, you pick your shortest goal, work hard to achieve the first short race. The first race will be very difficult, but it will prepare you for longer distances and tougher routes.

6. Train for Long Distances

With your first race complete, your acceleration will start to increase by applying the winnings from that last race onto the next longer run. Continue to look for ways to increase money received or decrease money spent. The compounded winnings of previous races will be the sustainment you need to go the long distances in beating debt.

7. Be a Teacher

Along the race to beat debt, be a teacher and help others along the race. The ultimate sportsman is the one that turns around and cheers others on. The ultimate sportsman is the one that seeks out the younger generation and teaches them the wisdom gained along the routes of the race. Once you are complete with your race, help others to attain their goals.

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