Debt Elimination 101

By John Cummuta

Debt Elimination 101 is a concise guide to breaking free of debt and building a financially secure future. Drawn from Are You Being Seduced into Debt? by John Cummuta, this handbook will help readers begin spending and saving in a truly biblical manner.

• Language: English
• Publisher: Thomas Nelson
• Release date: Jan 14, 2007
• ISBN: 9781418577087

Book preview

1

Copyright © 2006 by John M. Cummuta

All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopy, recording, scanning, or other—except for brief quotations in critical reviews or articles, without the prior written permission of the publisher.

Published in Nashville, Tennessee, by Thomas Nelson, Inc. P.O. Box 141000. Nashville, Tennessee, 37214.

Author is represented by the literary agency of Alive Communications, Inc., 7680 Goddard Street, Suite 200, Colorado Springs, CO 80920.

Nelson Books titles may be purchased in bulk for educational, business, fund-raising, or sales promotional use. For information, please e-mail [e-mail].

All Scripture references are from THE NEW KING JAMES VERSION. Copyright © 1979, 1980, 1982, Thomas Nelson, Inc., Publishers.

Compiled from the previously published Are You Being Seduced into Debt?

Library of Congress Cataloging-in-Publication Data

Cummuta, John.

Debt elimination 101 / John M. Cummuta.

p. cm.

ISBN-13: 978-0-7852-8793-3 (hardcover)

ISBN-10: 0-7852-8793-0 (hardcover)

1. Finance, Personal. 2. Debt. I. Title.

HG179.C8378 2007

332.024'02—dc22

2006038052

Printed in the United States of America

06 07 08 09 WOR 7 6 5 4 3 2

Contents

Introduction

ONE: Recognize the Great Deception

TWO: Redesign Your Life

THREE: Assess Where You Are Right Now

FOUR: Manage Your Spending

FIVE: Pay Off All Your Debts

SIX: Build Your Wealth

SEVEN: Put the Plan to Work

Appendix A: Planned Spending System

Appendix B: Accelerator Margin™ Finder

About the Author

Introduction

Do you want an uncomplicated way to achieve financial independence using the income you already produce? If your answer is yes, I have good news: you’re already a millionaire in the making. I’m going to show you how to end up with the fruit of your labors instead of giving it away to a powerful combination of opponents set on taking it from you by deception and manipulation.

Are there really people trying to manipulate you into giving them your money? Consider these statistics. According to the U.S. Census Bureau, of all American households age sixty-five and older, 79 percent are living under the average household income, 44 percent are living under $25,000 annual income, and 19 percent live below the poverty level (two-person household). This means nearly 80 percent of all American households will end up trying to enjoy the remainder of their lives on below-average incomes, and just under 20 percent will be scraping along beneath the poverty level. This is a disgraceful record for the richest nation on earth, and I don’t think we could have accomplished this bad a performance without some help.

I’m going to show you who’s doing this to us and how it’s being done. Then I’ll show you a simple system for eliminating debt and redirecting your money so that it builds your wealth instead of others’. You’ll go from having to work for money to having money work for you. In seven short chapters, this book will help you stop surrendering your financial future and begin transforming your debt into blessing—your bill payments into wealth investments. It’s easier than you think, so let’s get started!

ONE

Recognize the

Great Deception

Have you ever wondered whether the reality you see and experience each day is real ? Are you sure the financial choices you make proceed from your own core values and needs, or are they choices you’re very cleverly and subtly manipulated into making? I know this money-draining manipulation is ongoing, because I’ve spent most of the last three decades in the marketing industry and know how the process works. I’m going to unveil some of the mechanisms behind the industry so you have a fighting chance to defend yourself.

WELCOME TO THE REAL WORLD

Have you seen the movie The Matrix ? The hero, played by Keanu Reeves, helps free the world from a master manipulation being perpetrated on its people. Nearly all the humans on earth are experiencing what they think is reality, but each person’s reality is actually images and emotions being fed directly into his or her brain by powerful machines that have taken over the planet. The humans are simply being used by the machines like batteries. They lie, unconscious, in liquid-filled