Minimize your debt by limit taking on new debt. When you pay off a debt then you can consider taking on new debt under special circumstances. If you must finance a new car for transportation to and from work, borrow the smallest amount you can and avoid going overboard with getting the most expensive car and loan to match. Refrain from or limit consumer purchases of clothing, shoes, jewelry etc. Be strategic about purchasing clothes etc. Avoid the full fledged shopping spree. When you spend buy the least you can to avoid overspending. Look for real sales that you recognize are truly a reduced price and not a counterfeit sale. Save what you can… $10, $20, or $40 per paycheck or more if you can. Pay your debts regularly no matter what. If you send your creditor a payment no matter what size it is you cannot default on a creditor or be considered late.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.