Resources and Ways to Cut Your Debt Load

cut debt by cutting credit cards

A while back I wrote a few articles about getting out of debt that became the Getting Out of Debt Series. After numerous requests, I decided to turn it into a free downloadable e-book as well.

The series/eBook basically takes you through all the things that my wife (Linda) and I have done to pay down our debts.

When we got married we had about $40,000 of debt. Even though that was a sizeable amount of debt, we had a very strong desire to get rid of it.

This intense desire drove us to make sacrifices that seemed pretty uncommon when we looked at those around us.

But, as Dave Ramsey often says, “You have to live like no one else (now), so that you can live like no one else (in the future)”.

The Getting Out of Debt Series

Get the ChristianPF Free Ebook!

If you go through these articles and just do some of the stuff mentioned, you are likely to be in much better financial shape than you were before. But, I recommend that you sit down with each article and really spend some time with it. The last five articles are going to require some actions on your part. So, spend a couple weeks and make getting out of debt your new hobby and work hard at it!

You will be rewarded for your efforts!

If you need additional help cutting your debt load, you can check out some of the books, tools, and software below…

Recommended books to help you get out of debt

More articles to help you cut your debt

I have written quite a bit about debt on this site, since I spent a lot of time battling the debt monster. These are a few other articles that will help you along your journey to get out of debt.

If that doesn’t cut it…

If you follow the advice above and still find yourself struggling to pay down your debts, then it may be time to get some outside help.

We recently teamed up with a Christian Debt Relief  company that I checked out (there are some bad apples out there). But I investigated them, and had multiple conversations with them and I really like how they operate.

Basically they will work with you and your lenders to help you get your debt paid off quicker than you could on your own.

If you are interested in getting help just fill out the form below.





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13 Comments
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  1. The single most important piece of advice that I can think of is to “Just do it!” It’s far too easy to read about, plan for, think on, dream of, and otherwise put off getting out of debt. I have spent far too much time listening to DVD’s, reading books and blogs, and not nearly enough time putting into practice the knowledge that I learned.

    Go, right now, and start making the changes that you need!

  2. This post is a great resource. I love how you clearly put all those resources in one clear and to-the-point post. Thanks!

    • Glad you liked it Nicki – I am planning on doing a bunch of topic & resource posts like this in the next month…

  3. Dealing with debt can be a complicated thing. The software you recommend should prove useful. While they are a bit on the expensive side I’m thinking about checking similar software out.

  4. One more item I have often recommended is a free spreadsheet I highlighted from Vertex42. It’s a great resource that lets you plan and track your debt reduction strategy using either the debt snowball or the avalanche approach.

    This is a great and comprehensive list of resources. I’ve also signed up for your free e-book, it looks interesting. I’ll be sending people here to view it first thing in the morning.

  5. Great post Bob, what a lot of resources. It’s amazing that all this help is available if people just get out there and look for it. Sometimes, when debt problems seem insurmountable, all someone needs to pick themselves back up is a plan and some choices. You have provided a bunch of choices here. Kudos.

  6. Prof P.Madhu Sudana Rao,Ethiopia

    Every body,who spends more than he earns,is trapped into debt,which has be cleared tactfully,without losing moral or ethical values.One of the best ways is to borrow for a long term,by doubling the loan amount,from friends and relatives and invest in long term assets like,shares,land and other securities which have fundamental value.When the values go up,much higher than your debt amounts,dispose all of them and have a relaxed and peaceful life.
    If you are a self employed person,do not concentrate on so many businesses,but concentrate on high margin business.Every year the surplus is to be invested properly and thus get rid of the debts.

  7. Wow those are some great resources! Thanks for the resources, I’ll look into getting some of the books!

  8. Hi Bob,

    Great post with a ton of useful resources. A while back I wrote a post about how simple but important it is to earn more than you spend. This (IMO) sets up everything else and gets one going in the right direction. I have always associated being debt-free with “economic freedom” For when we are in debt to others we have essentially “sold forward” our labor, time and resources. Being debt-free is so worth the effort.

    Take Care, Mike

  9. My Husband and I had started this process about 2.5 years ago after reading a lot from Dave Ramsey and Suzie. I researched some software on the internet and found one that I could download for free, called Debt Accelerator. It recorded all information about our debt, current interest rates, current balances, minimum payments and after entering all this information in it was able to provide me a report on the snowballing of debt with a month to month list of what your balances will look like. I liked the fact that it would calculate your final PAY date and show the differences if you snowballed your payments. We have successfully paid off 2 credit cards in the past 2 years with this as my guide. I am really happy with this path we are taking and we will be completely debt free….minus the house payment within the next 2 years.
    We will be able to quit working and use our pensions to explore the US and really enjoy ourselves in no time. The light at the end of the tunnel is getting closer and closer!!

  10. You really went the extra mile with this post! Great info, but I guess it really comes down to discipline, doesn’t it? All of the items you mentioned aren’t particularly revelatory — all one needs to do is take a hard, honest look at where their money is being spent and they could easily reduce expenditures… well, easily said, not so easily done I guess. Discipline, right? :)

  11. That’s a lot of very good advice. It’ll take a while to read all this. Free ebooks are great. Looks like I have to take the whole weekend to get it all done.

  12. Tiffany

    I have a question about paying off debt – we make good incomes and pay more than we owe on almost everything. We have great interest rates on every debt we have, so I’m having a hard time deciding which debt(s) to snowball. It occurred to me the other day, that it might be better to put all our extra resources towards one debt at a time instead of spreading out the overpayments here and there. We have a mortgage on our main home (2.875% ARM with PMI for about $20K more principal – approx 2 years – 30 year note), a mortgage on our rental house (5%, 20 year note), credit card debt of $7,500 (2.9% until balance is paid in full), car loan ($18K, 2.9%), and two student loans (3.8% and 2.9%). If we start to pay the highest interest rate first, that would be the rental house – which could be paid off in 8 years. What concerns me then, is the tax impact – we’re in the 25% tax bracket, so we’d have more income to be taxed on (but of course, we’d pay less interest overall). With such good interest rates and such varied levels of debt – where to start? Is there some sort of formula/method to consider what the minimum payments on these debts are compared to the benefit of paying them off early? Your opinion would be appreciated. Thank you!

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