eBillme Blog – Shop Secure. Live Debt Free.

Living debt free, becoming debt free, and how to be debt free are common topics discussed around the water cooler these days, given the state of the economy. People are also looking online to find out how to get rid of debt fast, which makes debt free blogs more and more important. We sat down with John Frainee of The Christian Dollar to bring you more about debt free living.

The Christian Dollar is a website geared towards Christians wanting to better themselves in the area of finance. –TheChristianDollar.com

eBillme: Why do you blog about debt free living?

John: Being debt free has many benefits. One that is important to me is “0% interest for life.” You can’t find a better interest rate than that. The idea that credit is an important part of our economic system has been marketed to us aggressively. America has begun to believe the lie that credit is a pillar of financial strength. On the contrary, credit is just another way for companies to make money. As Proverbs 22:7 says, “The rich rule over the poor, and the borrower is servant to the lender.” I blog The Christian Dollar because I believe a new movement is starting: a debt free movement that will break down some of the misconceptions we’ve held about credit over the years.

eBillme: What are some of the trends you have seen lately?

John: It seems to me that people are beginning to understand the need for basic financial training. Our schools generally haven’t educated America’s children about personal finance, and we’re paying a price for it. People are hungry to learn how to spend money wisely and are looking for new ways of handling their checkbooks. It is difficult for people to know where to turn to when everyone is trying to desperately to sell them a product or service. My hope is that TheChristianDollar.com is a place where people can share their thoughts and opinions on money so that we can all learn from each other.

eBillme: What are the top three pieces of advice you can give someone who is struggling with debt?

John: (1) Don’t freak out. Most people freeze up when they are confronted by the reality of the payments they have to make. Instead, take it slow and consume as much information as you can on how you can eliminate debt while building a solid financial foundation.

(2) Keep in mind that you can’t dig out of the hole by going into more debt. Recognize how debt has been a curse in your life, not a blessing. Do something radical: Pledge never to go deeper in debt again (except for perhaps a reasonable 15-year fixed rate mortgage). Cut up your credit cards, purchase with cash, and be free from the idea that credit is a good thing!

(3) Know that there is hope. Many people have been where you are at, and they made it. It may take many years to discover financial freedom, but the journey is worth it. Don’t give up and know that with intense determination, you can make it!

eBillme: What applications do you recommend to help people live debt free?

John: If you’re a “Mac,” I recommend MoneyWell. It is a great virtual envelope budgeting system that has served me well over the past year. If you’re a “PC,” I recommend Quicken. It has helped countless people manage their finances and now offers a variety of versions to suit your needs. On the web, I have found eBillme.com to be of great help to those of us who want to shop debt free (see my interview with Samer Forzley here). Mint.com is a great place to start when trying to create a solid budget, and you can view your entire financial life from your iPhone using Mint as well.

eBillme: Anything else you would like to add?

John: It is very important to provide my readers with sound financial advice and relevant financial news. The Christian Dollar is written from a biblical worldview, and I intend to make it a place where everyone can come to learn, discuss, and write everything financial. I’m on this journey through life with you. Let’s learn together! Thank you for the opportunity to speak with you today, and I’m looking forward to meeting all of you out there who would like to talk personal finance.

We thank John for his time and great advice to everyone out there who needs help with becoming debt free.

You can read all of John Frainee’s blog posts and tips on living debt free at TheChristianDollar.com and if you enjoy his tips and advice be sure to subscribe to The Christian Dollar.

06 May 2010 ~ 1 Comment