What are we supposed to do now that we're out of debt? The exact same thing we did while we were getting out of debt. Keep reading to find out what that is.
Very rarely in my life have I used the phrase "I had to…" except when it came to money.
I wanted to be confident and powerful (and often pretended to be), but the reality was that I was shaking in my boots when it came time to make big money decisions.
If you're on fire to get out of debt as quickly as possible, chances are really good that nothing is going to stop you. If you're at the other end of the spectrum and continue to live without a budget and beyond your means, there's nothing anyone can do for you.
But the ones in the middle...the ones at the corner of comfortable and debt free...those are the people we help the most.
As we have learned more and more about how to lead a life of Christ-centered financial wellness, we discovered another aspect of budgeting that we now embrace wholeheartedly. It has come to the rescue more times than I ever thought possible and I'm excited to introduce it to you today. It's called the sinking fund.
Let’s walk through the 3 things you need to know about sinking funds.
The most important thing that Keith and I have done to cash flow almost $300,000 of life and debt during the last 5 years is maintain an active zero-based budget.
Let me show you what I mean.
Have you ever had something that was so overwhelming that you did not think you had the courage to face it? Have you ever had a financial crisis so intense that you felt paralyzed to do anything about it. I have good news!
Have you been there? Have you ever forgotten all that you are capable of? Have you ever been so bogged down by life or debt or the expectations of yourself (or others) that you lost sight of exactly what you have already accomplished? I have a secret to tell you…
Are you thinking of becoming debt free in 2017? Maybe you simply want to commit to start becoming debt free in 2017? Or maybe your goal is to get a better handle on your money in 2017. Any of the above are possible with a plan.
How do you get started?