Getting out of Debt (Series)

Are you looking for help getting out of debt?

Great, I think you have come to the right place. At the time of this writing, I am right there with you on this journey to break free from the “slavery” that the Bible calls debt (Proverbs 22:7). It is not easy, but it also isn’t that difficult either. Over the last two years my wife and I have paid off nearly $30,000 in consumer debts from some mistakes that we made in the past.

The 7 steps that I am going to take you through are things that we did to pay down our debt or we would have done if we had the opportunity. Each article is fairly long, so if you would like you can download it in eBook form as well.

If you are serious about getting out of debt, I recommend that you read each article, even though the first two are a bit less practical than the last five. I believe that they the first two include the keys to successfully getting out of debt.

The 7 Steps to getting out of debt

If you go through these articles and just do some of the stuff mentioned, you are going 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!

Other resources to help you get out of debt

I have written quite a bit about debt on this site, since I have been trying to break my way out of it myself. These are a few other articles that might be worth reading…

and if you still need some more articles about getting out of debt you dig through these debt articles and these articles on debt-related topics

Remember, while I think you should read as much as you can to become informed, it isn’t about how much you learn, but how much you apply. So read up, learn how to do it, and get after it!!

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  1. Evelyn


    I love your seven steps to get out of debt. Once my site gets going, I hope you don’t mind if I send my readers to you. Thanks for a wonderful article.


  2. bob

    not at all… and just to be clear – each one of those steps is going to be a full article over the next couple weeks…

  3. broke

    Okay, I’ve got a problem! I had to move recently and didn’t have enough money to get into a standard monthly rental.

    So I got into a WEEKLY rental with lower move-in costs. Unfortunately, this costs more on a monthly basis than a comparable, more conveniently located, less crowded (nine people in the house, including a kid) house or apartment.

    So now I’m in a Catch-22. Because most of my minimum wage income is going to pay rent, I can’t save up money to move into a cheaper monthly rental. Which means I continue to pay a ridiculous porportion of my income for rent.

    How do I get out of this financial trap?

    p.s. This is a GREAT business model for the owners of this house: They rent out 5 bedrooms at $150 per week, generati8ng more than two times their mortgage payment. Also, renting rooms by the WEEK with a low move-in cost allows them to quickly fill vacancies, keeping the rent dollars rolling in. I’ve lived here several months and estimate the vacancy rate at 5 percent tops. Where can I get on the other side of this business model?

  4. bob

    as Dave Ramsey would say, you have an income problem. YOu need to find a way to generate more income. If that means getting a second job then that is what you have to do – but from what you wrote, you realize what you need to do, now you just have to make some extra cash to make that happen

  5. David Simonds


    I greatly enjoyed looking through your blog and found some informative posts on finance.I have also some finance related web sites having more information regarding various financial problems and its solutions.So,I think it would be beneficial for both of us if we will join in a community and become link partners to each other which will help your blog/site in getting more Google values.If you are interested then please contact me at- davidsimonds007(at)


  6. Monica

    Great great tips, your seven steps to get rid of debt is just what anyone in debt can capitalise on if properly followed. I have started a debt focused blog and I hope you don’t mind if I send my readers to your site for reference(I have already in my latest post). Thanks for a wonderful article.
    Let’s start savings and build to a debt free future

  7. Kathryn

    There is one thing that I have discovered people in debt have in common – the inability to stop spending. It doesn’t matter whether it’s a person or a company, when the money is not there then the spending shouldn’t happen. Many people could make a HUGE dent on their finances if they’d just stop spending for a month or two.

  8. Sarah

    Thank you so much for this series and your whole blog!

    I have been looking for resources to help me get out of debt and use my finances for God rather than for me. In these tough economic times (especially being that I live in Michigan) my husband and I are blessed to have a very generous combined income. The reason I tend to think we are poor is because we have SO MUCH debt. It really makes me sick when I start to think of how frivolous I have been with the blessings God has shown me. I am turning to God and the resources I am able to find through His good grace to try and remedy this part of my life so I can give more back to Him and those that need it.

    Thank you again for your blog, I know it will be much help and I’ve already started working on this series.

    God Bless! Sarah

  9. september

    I have been in debt for so long it seems as if I will never get out. I have exhausted all of my funds that I saved in my 410k because , I almost lost my home. I had to file bankrupcky to keep my home and still having problems. I have had to pay off so much in attorney fees that is unreal because once you pay all the fee repeatedly I had no money left to keep the bills to include the mortage paid up. I was recently layed off my job and now receive unemployment which is not very much and I cannot fine a job. I am considering closing out my retirement account so that I can pay up the bills. If I do that I will lose the years I have earned in retirement, be penalize when the money is withdrawn because I am not 591/2, plus I will be taxed again when I file my taxes. I can be very discouraging.

  10. BC

    I have a question… for anyone willing to help me clear my mucky waters.
    I am a single mom to 3 boys. I have been for the better part of 17 years. I bought my own home, on my own several years ago. Lost it after a divorce and job loss. I was making less money before I got married, but had more to pay bills with. Now that I have been at my current job 3 years, I struggle every month to pay bills and make more than I did then!
    Last year (end of) there was about 7 months that I only worked 3 weeks out of the month and was only getting 30-32 hours on the weeks I worked… Stupidly I took out a few payday loans to keep up with my car and rent… now they are killing me. I cant get ahead to save my life. I am drowning and I need someone to help me see the light. I DO NOT make enough to even save $5/month. I do not live above my means. I have 3 teenage boys that are in school and do sports. I do not get child support (every once in a while I will get $150 if that).
    I have no one in my life that is good with their finances or that I feel I can go to to just talk this out and get some sound advice without being criticized. Reading books do me no good, I am a hands on person and need someone to be kind enough to walk me through what I can do.
    I have canceled cable. We do have cell phones (have to because I work too much to not be in contact with my boys), gas, electric, car pmt, rent, gas for vehicle, food and basic necessities. I do not believe I live beyond my means because I have been poor for so long I dont need the extras.
    Please if anyone has some good advice, I am a willing listener.
    I am trying to clean up my credit (mostly medical bills, student loans, foreclosure and thats about it), I want to buy a home and learn to save money… I am sure living paycheck to paycheck is hereditary!