Dave Ramsey isn’t the only one encouraging America to pay off debt and live debt-free. Recently, Pastor DeForest B. Soaries, Jr., the founder of dfreeÂ®, a strategy that encourages people to live within their means, without debt, deficits or delinquencies, announced the Billion Dollar Challenge, a national campaign to reduce consumer debt.
â€œThe most important step families can take to improve their financial status is to pay off their consumer debt.Â The Billion Dollar Challenge will not only challenge people to pay down their debt, but it will also use a new web-based tool where people can create a confidential, online debt profile, enter their debt amounts, set personal financial goals and track their payments,â€ Soaries said. â€œBy taking part in the Billion Dollar Challenge, people become part of the national movement to reduce personal and family debt.â€
The Billion Dollar Challenge is available to individuals, families and organizations nationwide and can be accessed through the dfreeÂ® website â€“ www. mydfree.org. The Challenge features tools and resources on how to budget, live within your means, save and invest, which are all goals of the dfreeÂ® strategy that was created in 2005.
The Billion Dollar Challenge is starting with members of the African-American community, but is open to anyone wishing to pay off debt.
â€œWe\’re starting with the black community because that\’s where the need is the greatest and where most of the calls are coming from,â€ Soaries said. â€œBut, we\’re also talking with companies and organizations that reach the general population. We\’re not ignoring anyone. America is hemoraging from consumer debt and many people are ready to stop the bleedingâ€
The Billion Dollar Challenge was a natural next step for the dfreeÂ® strategy, which was developed at First Baptist Church of Lincoln Gardens, where Soaries serves as senior pastor. His primary focus in creating dfreeÂ® was to eliminate family debt to create a foundation for developing family and community wealth. In the last six years, more than 600 families have taken dfreeÂ® classes and reduced their personal debt.
â€œWe are now expanding the dfreeÂ® strategy beyond the church community and New Jersey,â€ he said. â€œNot only have I written a book describing the strategy (â€œdfreeÂ®: Breaking Free From Financial Slavery,â€ Zondervan), but I have committed the next phase of my life to this work around the globe.â€
To sign up for the Billion Dollar Challenge, visit www.mydfree.org.