Pactical Debt Management from David Sumrall

Found this Practical-debt-management from sonnie's porch:

1. Have a detailed list of your debt
2. Shut down spending. Buy only what is necessary.
3. Study your expenses
   Kill the little foxes that destroys the vineyard
   Songs of Solomon 2:15– “..Catch the little foxes. They destroy the vineyards..”
   Too often, we sacrifice on the big expenses, but what depletes our budget are the “little foxes” or little expenses on regular basis.
   A good example is daily visit to “starbucks”. 2 starbuckses a day is worth P200. Per week is P1,400. Per month is P5,600. Per year is P67,100. Just imagine if the expense here is converted to savings?
4. Increase your income– look at what you have and what you can do, recognize but do not magnify your need.
5. Pay your debts on time. If already in trouble, negotiate with your debtor for payment terms.

http://sesantos.com.ph/2007/03/25/practical-debt-management/

Sonnie got that from one of David Sumrall's teaching in the Cathedral of Praise-Manila.