When I graduated from high school, my family bought me a used car that I planned to take to college. At first, I would drive all week after having bought only one dollar worth of gas! Then, I received a gas credit card in the mail, and I started filling my tank every time I went to the gas station. 

My income had not increased. In fact, I had no income. But the card gave me more buying power. After one month, my gas credit card bill was $200. I made the minimum payment of $10 and that began a fifteen-year struggle with overspending, credit cards and debt. 

My story is similar to many Americans’ who are dealing with financial stress daily. The presence of overwhelming debt exists and is growing in every sector of American life. Not only is our nation drowning in debt, but American citizens have also become addicted to the use of credit cards, high interest loans and borrowing as a lifestyle.  

This is now a national problem that seems to have no boundaries. We will never own businesses, be prepared for emergencies, or leave a legacy for the future, if we are drowning in debt today. Getting out of debt is the first step toward financial freedom. 

We must check our spending habits to get control of all aspects of our finances.  This starts with developing a spending plan (Day 6) to live by, based on your income (Day 3) and your expenses (4). 

Enroll in the free Dfree 12 Steps to Financial Freedom course for guidance, relevant tools, and resources to help you check your financial habits.