How to Become Debt Free

Hey Lovelies! I’m so excited about becoming debt FREE! Today, I want to share with you my spiritual and practical journey to becoming debt-free and building wealth. Grab a hot cup of tea, because we’re about to dive into a transformative lifestyle that’s not just about money – it’s about aligning your finances with your faith and values. It’s been emotional for me on this journey but today I’m embracing Debt-Free Living. In this post are the steps and strategies I applied to achieve Financial Freedom and create wealth.

Backstory on My Desire to Become Debt-Free

Let me start by saying this: My financial journey is a spiritual journey. I made a vow to God and myself that I would faithfully tithe my first 10 percent to the ministry and asked God to show me how to get out of debt. I meditated on this scripture from Deuteronomy 15:6: “The Lord your God will bless you as he has promised. You will lend money to many nations but will never need to borrow. You will rule many nations, but they will not rule over you.” This verse became my guiding light, reminding me that financial freedom is not just a dream but a promise waiting to be fulfilled.

My journey to wanting to become debt-free started in 2019 when I did the “Live Richer Challenge” with Tiffany Aliche. One of the exercises in the book is to calculate your net worth. That exercise uncovered that I was over $200,000 in debt. I know you are thinking “Whoaaaaa!” As terrible as it sounds, I thank God for that exercise. It was an eye-opener seeing the state of my finances in black and white. I immediately cried and felt called by God to transform my financial situation.

Step 1: Pray/Tithe

Start by surrendering your finances to a higher power. Whether you call it God, the Universe, or something else, invite divine guidance into your journey. Commit to tithing your first 10 percent and trust that God will show you the way. My local church started a “Tithing Challenge”. I had never faithfully tithed before starting this challenge. My faith was tested in so many ways but I really trusted that God would provide. I began to tithe my first 10 percent of my income and every since then I have NOT lacked in my finances. God continued to increase my territory and my income because I trusted that he would provide for me and my family.

Step 2: Budget

Next up, it’s time to get REAL about your money. Sit down, crunch those numbers, and create a monthly budget that aligns with your goals and values. Track your income, expenses, and debt payments religiously – this is your roadmap to financial freedom. I used a very basic budget sheet (my son calls it “a lil budget sheet”) every month to track my finances. You can access a copy here. Also, Ramsey Solutions has a free net worth calculator here.

Step 3: Increase Income

Now, let’s talk hustle and creating additional streams of income. If you’re serious about getting out of debt, you’ve got to be willing to put in the work. That might mean getting a second job, freelancing, starting a side hustle – whatever it takes to boost your income and accelerate your debt repayment journey.

Personally I was already in the Air Force reserve with an additional stream of income. However, I needed to increase my income even more if I wanted to expedite getting out debt. I became a content creator. I started out doing this as a hobby and began to make money working with major brands that I use every day like New York & Company, Spanx, The Lip Bar, Body Complete RX and many other partnerships in exchange for free products. If you want to know more about becoming a content creator, I’ve created an e-book that gives you the secrets on how to make money online as a content creator. Grab your copy HERE.

Step 4: Develop a Debt Repayment Strategy

One of the most effective strategies for paying off debt that I used is the snowball method. Start by listing your debts from smallest to largest, then focus on paying off the smallest debt first while making minimum payments on the rest. Once that’s paid off, roll the amount you were paying on the smallest debt into the next smallest debt, and so on. It’s a snowball effect that gains momentum with each payment – before you know it, you’ll be debt-free!

Create goals. Make the vision plan and clear. Below is my actual Goals in 2021. ALL of it came to fruition.

Step 5: Avoid Taking on New Debt

Last but not least, commit to a debt-free lifestyle by avoiding the temptation to take on new debt. I back-slid a few times, but do as I say not as I do, Mmmkay. Cut up those credit cards, resist those impulse buys, and prioritize saving for the things you want instead of relying on loans and credit. Use cash, I used the cash envelope binder method to avoid using my credit cards.

Once I paid off all my credit card debt, the last piece of my debt was student loans. I have worked in public service for years in hopes that once I made 120 consecutive payments my student loans would be forgiven. I used to tell folks “My student loans are for the LORD! Ain’t no way I’m paying all that.” It felt like this was the longest part of my journey. In 2024, by my Father God in heaven, my student loans were 100% forgiven. $64,000 in student loan debt GONE. I danced, cried and shouted for joy. God is so GOOD!

Conclusion

Remember, it takes discipline and sacrifice to achieve financial freedom. For me, it meant joining the AF reserve, starting a blog for extra income, missing family events and working weekends while others were off. I had to grind hard, even when I didn’t want to, to show the Lord I was willing to do the work – and he did the rest.

Now, I am living my DEBT-FREE, retired, dream life traveling the world and not worrying about looming debt. (NO car note, NO credit card debt, NO loans, NO mortgage, NO I-owe-you’s)

So, to my lovely peeps who are striving to be come debt-free, let’s keep praying, budgeting, hustling, strategizing, and staying disciplined on this journey. Remember, it’s not just about the money – it’s about living a life of abundance, purpose, and freedom. If you have any questions or need any advice please don’t hesitate to email me. Also, share this blog post with others. I want to see us all live in financial freedom.

Until next time, stay LOVELY, stay faithful, stay focused, and stay debt-free!