Getting out of debt can be a big endeavor, especially if you have run up a lot of debt. It takes commitment to get out of debt, and stay out of debt. There are several different plans or programs you can follow or join to get out of debt. These programs use a slightly different philosophy and you may find that one works better for your current situation than others.

Dave Ramsey’s Total Money Makeover

Dave Ramsey’s plan outlines the basics of starting a debt snowball. He teaches that you should have a baby emergency fund of $1,000 and a tight budget that allows you to throw a lot of extra money towards debt each month. He counsels you to start with your smallest debt first and work your way up to your largest debt.

Dave Ramsey has a variety of products you can use to implement his plan, from his national best selling book The Total Money Makeover, through his radio show, and by joining his website with support forums. He also offers Financial Peace University, classes designed to help couples get their finances under control, and their debt snowball under way. The basics of his program is offered in the book, and you do not need to participate in the other products to succeed with the system, though the additional support can help you stay on track.

Debt Free and Prosperous Living Training

The Debt Free and Prosperous Living Training was created by John Cummuta. The system is available by purchasing his course, which is a combination of a book and audio CDs. He stresses the importance of getting out of debt, and finding ways to increase your income through home business. He also is associated with prosper.com, which offers financial counseling and training.

This program involves finding more money to put towards your debt and possibly starting your own business to help you get out of debt more quickly. There are many complaints online about the cost of the program as well as the sales pressure tactics used to try to force you into private counseling sessions that cost much more than the other get out of debt programs available on the market. Although this program may work, you may want to borrow the book from the library or purchase the book from a bookstore to avoid dealing with the customer service.

Crown Financial Ministries

Crown Financial Ministries offers a program that is based on Christian principles and scriptures. This system addresses your entire money management strategy, which includes getting out of debt and what to do after you have finished getting out of debt. This program will appeal to people who are actively involved in a Christian faith, but may be off putting to people who aren’t religious.

The program is available through the radio show, with the book Eliminating Debt or Debt Free Living. Additionally you can attend a Money Map seminar to receive support. The website has several calculators that can help you get control of your budget and create a debt elimination plan. They also offer counseling sessions both in person and online to help you get out of debt. The counseling sessions do cost money, but if you need the extra support, the counseling sessions may be worth the cost.

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