Helping people get out of debt is passion work for me. Today, African-Americans are significantly more likely to have some type of debt (94 percent) compared to the general population (82 percent). African-Americans have a median household debt of $18,000, not including home mortgages, which is about 50 percent higher than the household debt for the general population. One in four African-Americans has felt anxiety or depression as a result of debt.
We often speak of seeking political freedom, and have worked together as a community effectively towards this aim. Yet today, financial freedom is the next hurdle we must surmount if we want to make even greater gains towards social equality.
Dfree® is a lifestyle movement that I created that places an emphasis on the elimination of debt and addresses the root causes of chronic indebtedness. The dfree approach confronts the emotional, psychological and spiritual causes of debt. “Dfree” stands for freedom from debt, delinquency, deficits and freedom to make deposits to savings, earn dividends and possess deeds that represent ownership.
Drawing on his personal experience and years as a pastor, public policy maker, and community leader, DeForest “Buster” Soaries, Jr. shares the twelve steps to achieving financial freedom in this groundbreaking, life-changing book—Say Yes to No Debt.
“The idea that debt is actually slavery is offensive to all of our sensibilities,” says Soaries, “but when we continue to spend what we don’t have, charge what we don’t need, and borrow more than we can repay, then we must call the problem what it is: slavery. Eliminating debt is the first step toward financial freedom. And we can do it.”
This is not another financial literacy program assuming that all people need is information. Soaries believes living in debt is an emotional, spiritual, and psychological problem as much as it is an educational and informational one.
Here, Soaries shares the twelve steps to financial freedom that have helped families in hundreds of churches. By replacing the “get more money” mentality with a “get out of debt” approach to financial freedom, not only were thousands of people able to become debt free, church’s that have used the dfree® strategy have experienced increased giving by their members.
Find out how you can leave a financial legacy of your own by saying yes to no debt.
Says Soaries: “There may be no greater need than to understand that debt-free living is the first step toward financial freedom. And the result is that we can enjoy life and leave a real legacy for our children.”
dfree ® 12-Step Process
You will establish life goals, track spending, list income and bills, establish banking relationships, and secure all financial documents and records.
8 – Minimize the stress
9 – Give back
Founded in 2005 by DeForest B. Soaries, Jr., dfree® is a financial freedom movement that addresses the cultural, psychological and spiritual influences on financial wellness and offers practical strategies for achieving financial success.
About the Author
DeForest B. Soaries Jr. is the Senior Pastor of the First Baptist Church of Lincoln Gardens in Somerset, New Jersey. He formerly served as New Jersey’s Secretary of State and his work was featured in the acclaimed CNN documentary “Almighty Debt.” Soaries earned degrees from Fordham University (BA), Princeton Theological Seminary (MDiv) and United Theological Seminary (DMin). He lives in New Jersey with his wife, Donna, and twin sons, Malcolm and Martin.