Are you resolved to get out of debt in 2016? I have some practical steps for you today.

Chuck Bentley on 1/5/16 7:30 AM


For the average American, interest payments consume the largest chunks of their monthly paycheck.  There is interest on the credit card balances, student loans, store accounts and the mortgage.HOTW_Jan5.jpg

Here are some ways to get started paying it off this year!

  • Use your income tax refund, which is estimated to be around $3800 this year for the taxpayer, to pay off your highest interest debt first. It is the one costing you the most and will provide the biggest relief to get it paid off. Crown has a strategic alliance with a firm that provides excellent on-line filing services. The sooner you file, the sooner you get your refund.
  • Next, adjust your withholding or estimated quarterly payments to be sure you are likely not to get a refund in 2017. For many, this could mean an extra $300 per month in your pocket that can be applied towards debt reduction.  So think about it, if you do both of these things, you may be able to reduce $7,000 of debt in 2016!  Now that is a good way to start the New Year!

For some, the interest and penalties on your credit cards is out of control. You are in a spiral and need expert third party help to get you back on track.  You may qualify for a debt management plan to pay back those accounts at a much lower interest rate. 

Crown has partnered with Christian Credit Counselors, a highly reputable firm, to help you get out of the credit card trap you may be caught in.  These three steps are possibly your best moves to escape living on the financial ledge this year.  Learn more about our tax partner and Christian Credit Counselors at



Chuck Bentley is the CEO of Crown, the largest Christian financial ministry in the world, founded by the late, Larry Burkett. He is an author, host of My MoneyLife - a daily radio feature, and a frequent speaker on the topic of Biblical financial principles. Follow him on Twitter @chuckbentley and visit for more help.


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