The 5 Smart Steps to Eliminating Debt

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By Richard Paul Evans

First, there are few things in America as common as debt. A lot of people have different philosophies about debt and there are questionable books out there telling you to just blow off your debts. Most of it is trash and what they conveniently leave out is how much you, and others, will suffer for following their advice. Call me old-fashioned, but I believe in integrity. I believe that if you created the debt, the honorable thing to do is to pay it off. But there are 5 simple steps that can protect your credit, save you money, hassle and time. I have personally used this 5-step technique with major corporations. And what works on multi-million dollar levels works just as well on an individual consumer level.

STEP 1. RECORD ALL YOUR DEBT ON ONE SHEET (IF POSSIBLE) SO YOU KNOW EXACTLY WHAT YOU’RE FACING. Better the devil you know than the devil you don’t. Write down the company or person you owe, how old the invoice is, the invoice number and the amount. Make sure you don’t miss a single debt, as having unaccounted debt pop up later is demoralizing.

STEP 2. CONTACT (PREFERABLY CALL) EVERYONE YOU OWE MONEY AND ASK IF THEY WILL REDUCE YOUR DEBT. If you read yesterday’s tip, you learned about the 7 golden words, what they are and how to use them. Using the seven golden words you’ll be amazed at how much you can reduce your debt. If you missed that tip I’ll share the words again: ‘IS THAT THE BEST YOU CAN DO.’

I once helped manage a company that was trying to avoid bankruptcy. At my counsel they directed one employee to call their creditors and use the 7 golden words. This technique knocked out more than a third of their quarter million dollar debt in just one week. We found that many of the creditors were willing to accept as little as 30% of the invoice if the company would pay off the debt quickly. (Doing this may require you to shuffle your payment priorities a bit.) A few companies that were not willing to negotiate the price willingly offered to negotiate the terms of payment. One creditor changed a large lump sum debt to an escalating payment, starting low and stretched it out over a year with no interest. You will probably be surprised at how often your creditors will be willing to work with you. Most companies are so used to people trying to avoid payment that someone trying to honorably pay their debts is a treat.

3. CONSOLIDATE YOUR REMAINING DEBT WITH THE LOWEST INTEREST RATE POSSIBLE. If you are struggling with significant debt, you might want to consult with a CCCS–a consumer credit counseling service–to create a debt repayment plan. This is a little tricky as not all CCCS organizations are good. Do your homework before signing up with one.

4. PAY DOWN YOUR DEBT. I recommend directing at least 10% of your income to debt retirement. (In tomorrow’s tip I will explain why you should continue to build a nest egg as you pay off your debt.)

5. DON’T CREATE ANY MORE DEBT. This might be the time to cut up some credit cards. In today’s world it’s not necessarily realistic to not have a credit card, but you can cut down on the number of cards you use, lower their limits or, if you’re unable to control yourself, change to a debit card. (Warning: It is not necessarily in your best interest to close down a credit card. This can lower your credit score. Simply destroying or not using the card can be just as effective.) One of the worst things that could happen after you have consolidated your debt is for you to create a new form of debt. If you suspect that you’re a compulsive or binge spender, get help now. Remember, it takes time to pay off debt, but the sweet taste of freedom at the end of the journey is worth every step.

Richard Paul Evans is a #1 New York Times bestselling author and the founder of the 5 Lessons Institute.  (5Lessons.com) His new book is called: The Five Lessons a Millionaire Taught Me for Women.  To order the book click one of the online retailers below:

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There is an economic collapse of third-world proportions on America's horizon. Nancy Pelosi and Joe Biden hinted at it in statements last week: "Capitalism … has not been serving our economy as well as it should" and "We're about to … literally change the trajectory of our nation for years and possibly decades to come."

The changes the Democratic Party already has in the works are clearly destructive. You have felt it over the last year and a half, in a small supply chain inconvenience here, an incremental price rise there. You've sensed that something is very wrong. It's rumblings of the Great Reset.

Tonight on "Glenn TV," Glenn Beck heads to the chalkboard to break down how America's traditional economic strengths are being severely undermined and, in many ways, systematically torn down by the Biden administration and Democrats in Congress.

This is not "building back better"; this is a managed decline to bring America down to the rest of the world's standard of living. Glenn challenges: Don't let them convince you these are just first world problems. That's the point. America IS a wealthy nation, but we are heading quickly into a second- and third-world collapse. Glenn provides solutions for the managed decline and how you can prepare for the reset that is already in motion.

Watch the full episode below:

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On the radio program Tuesday, Glenn Beck broke down today's inflation, explaining what it is and giving proof that those at the top — politicians and world elite — continue to take advantage of our declining economy to advance their own agenda. He also revealed how a recent decision by Citibank and powerful investment management company, BlackRock, not only puts the U.S. further behind but also allows for China to gain worldwide control.

Watch the video clip below to hear Glenn break it all down:


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For the first time in the history of "The Glenn Beck Program," former President Donald Trump joined Glenn to give his take on America's direction under President Joe Biden compared to his own administration. He explained why Biden's horrific Afghanistan withdrawal was "not even a little bit" like his plan, and why he thinks it was "the most embarrassing event in the history of our country."

Plus, the former president gave his opinion on China's potential takeover of Bagram Air Base, the Pakistani Prime Minister, and Gen. Mark A. Milley, chairman of the Joint Chiefs of Staff.

Glenn asked President Trump how similar the Biden administration's withdrawal from Afghanistan was to his administration's plan.

"Not even a little bit," Trump answered. "We had a great plan, but it was a very tenuous plan. It was based on many conditions. For instance, you can't kill American soldiers. ... You have to understand, I did want to get out. But I wanted to get out with dignity, and I wanted to take our equipment out. And I didn't want soldiers killed. ... What [Biden] did was just indefensible. He took the military out first and he left all the people. And then we became beggars to get the people out. I had a plan to get them out very quickly. But first, the Americans would go out."

Trump told Glenn that his plan included maintaining Bagram Air Base and explained why he would not have left "a single nail" behind in Afghanistan for the Taliban to seize.

"We were going to keep Bagram open," he explained. "We were never going to close that because, frankly, Bagram is more about China than it is about Afghanistan. It was practically on the other border of China. And now we've lost that. And you know who is taking it over? China is taking it over. We spend $10 billion to build that base. It's got the longest, most powerful runways in the world. And China has now got its representatives there and it looks like they'll take it over. Glenn, it's not believable what's happened. You know, they have Apache helicopters. These are really expensive weapons, and they have 28 of them. And they're brand-new. The latest model."

Glenn mentioned recent reports that Gen. Milley, America's top military officer, made "secret phone calls" to his counterpart in China while President Trump was in office.

"I learned early on that he was a dope," Trump said of Gen. Milley. "He made a statement to me — and I guarantee that's what happened to Biden — because I said, 'We're getting out of Afghanistan. We have to do it.' And I said, 'I want every nail. I want every screw. I want every bolt. I want every plane. I want every tank. I want it all out, down to the nails, screws, bolts ... I want every single thing. And he said, 'Sir, it's cheaper to leave it than it is to bring it.'

"The airplane might have cost $40 million, $50 million ... millions and millions of dollars. So, you think it's cheaper to leave it than to have 200 pilots fly over and fly all the equipment out? ... I said, you've got to be nuts. I mean, give me a tank of gas and a pilot and I just picked up a $40 million-dollar airplane. It was amazing. So, I learned early that this guy is a dope. But what he did, is he hurt our country ... and he shouldn't have been allowed to do it. And bad things should happen to him."

Watch the video clip below to catch more of the conversation or find the full interview on BlazeTV:


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In a shocking but underreported conversation ahead of the G7 Speakers' meeting in London last week, Democratic House Speaker Nancy Pelosi admitted that the administration knows China is committing "genocide" against the Uyghurs in the Xinjiang region, but thinks working with the regime on climate change is more important.

On the radio program, an outraged Glenn Beck dissected Pelosi's speech and broke down how — along with the Biden administration's abandonment of Americans in Afghanistan, and the Democrat decision to follow measures of medical "equity" — the far left is revealing how little they really care about human life.

Glenn played a video clip of Pelosi making the following statement:

We've always felt connected to China, but with their military aggression in the South China Sea, with their continuation of genocide with the Uyghurs in Xinjiang province there, with their violation of the cultural, linguistic, religious priority of Tibet, with their suppression of democracy in Hong Kong and other parts of China, as well – they're just getting worse in terms of suppression, and freedom of speech. So, human rights, security, economically [sic].

Having said all of that ... we have to work together on climate. Climate is an overriding issue and China is the leading emitter in the world, the U.S. too and developed world too, but we must work together.

"We have Nancy Pelosi admitting the United States of America knows that they're not only committing [genocide], they're continuing to commit it. Which means, we've known for a while," Glenn noted. "And what does she say? She goes on to say, yes, they're committing genocide against the Uyghurs, but having said that, I'm quoting, 'the overriding issue,' is working together on climate change.

"Would we have worked with Hitler on climate change? Would we have worked with Hitler on developing the bomb? Would we have worked with Hitler on developing the Autobahn? Would we have worked with Hitler on his socialized medicine? Would we have worked with Hitler on any of his national, socialist ideas?" he asked.

"The answer is no. No. When you're committing genocide, no! She said 'we have to work together on climate,' because climate is the 'overriding issue.' The overriding issue? There is no way to describe this mindset. That, yes, they are killing an entire group of people because of their ethnicity or religion. They are systematically rounding them up, using them for slave labor, and killing them, using their organs and selling them on the open market. They are nothing more than cattle. For us to recognize it and do nothing about it is bad enough. But to say, 'we recognize it, but we have bigger things to talk to them about,' is a horror show."

Glenn went on to urge Americans to "stand up together in love, peace, and harmony," or risk watching our nation become the worst plague on human life yet.

Watch the video clip below to hear more from Glenn:


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.