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Prioritize
accounts close to legal action
Catch up on all delinquent accounts
Pick one account at a time to pay more than the minimum; usually highest interest
rate
Pay off a small one for encouragement!
BEFORE each loan is paid off, reassess how you will use that money
May want to boost giving, savings or shift entire amount to the next loan
to be repaid
A
Word About Consolidation Loans
Advantages
Fewer Payments
Usually Lower Rate
Tax Deductible?
Lower Payment
Gets a Creditor OFF Your Back.
Disadvantages
May Lengthen Payback
May Increase Interest Cost
Doesn’t Solve The Real Problem
Helpful tools:
Payment charts
Spreadsheets
Let us help you out!
Sample
Budget
Try it, it won’t kill you!
Sticking to our
budget
Control our spending!
Control our spending!
Control our spending!
Control our spending!
How
to control spending
Pre-allocation
Immediate feedback
Engage your resources at the point of purchase
Self-control
Rom 8:11 Holy Spirit
Gal 5:22 “… fruit of the spirit…”
2 Tim 1:7 “… spirit of … discipline…”
Other tips for
controlling spending
Only buy budgeted items
Impulse List
Cash instead of credit
What to do if
you’re buried
Contact the GIFT Ministry Team at 888-2222
Consumer Credit Counseling Service (CCCS)
Bankruptcy as last resort Ps. 37: 21
God
wants our hearts
Spiritual battle
Prayer weaponry
Deeper relationship with Christ
Subject our plans to God James 4:13-16
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