Posted by: Sheri Lukasiewicz @ Peace by Piece | June 11, 2010

Overcomers LOVE Newcomers!!

As a Dave Ramsey Trained Financial Counselor, I’m a frequent listener to his radio program, and viewer of his television show on Fox Business.  One of the things I have learned, is that many, many people are very disorganized when it come to their finances, and specifically to their debt.  Folks aren’t exactly sure Who they owe, or how MUCH they owe, the just KNOW they OWE!! 

They may have 5 or 6 credit cards with thousands of dollars owed in principal balances, but they make their minimum payments on them.  There may be a car payment or two, but they’re not sure how much they still owe.  It may $2,000.00, it may be $20,000.00.  They only know they pay $480.00 on them each month.   They may have a HELOC (Home Equity Line of Credit), but they have no idea what the balance is, only that the monthly payment is $175.00. 

They are beginning to wake up to their lack of focus on their financial condition, and want to get a better handle on it, and eliminate their debt as soon as possible.  If that’s you as well, allow me to suggest a Debt Snowball.  A Debt Snowball is a method where you list all your debts (Principal Balances) smallest to largest and make your minimum payments on all but the smallest one.  The smallest one is your target debt.  In addition to the minimum payment, scrounge any excess money out of your budget and apply it to the smallest debt, to eliminate it as soon as possible.  THEN you do the same thing to the next debt in line, only now, you have its payment, plus the payment that you USED to make on the debt you paid off last month, plus any extra you can scrounge, and it builds into a Debt Elimination Snowball.  It won’t happen overnight, but it gains energy as it gains momentum!

The KEY is to get Organized in your own personal debt world.  Knowledge is POWER!!  If you would like some great helpful resources, you can check out Dave’s Website.   You will also be able to find a radio station near you that carries The Dave Ramsey Show.  Listening to Debt-Free Friday’s is very empowering, to hear the success of others, and will help spur you on.  You’ll find that there are thousands, just like you, on the same journey, and thousands that have reached their goals, cheering you on!!

While it may be true that ‘misery loves company’, please, let me assert that Overcomers Love Newcomers!!



  1. Very good! I’ve been tempted to transfer one of my credit cards over on a new credit card that gives me a year with no interest on transfers. Would this be a good thing to do? I’d have 1 yr. to pay it down and everything would go to the principle.

  2. I will send you a personal email reply. Thanks for your comment & question!!

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