People are in massive amounts of debt and they need a way to get out of it. One way this can be done is by allocating more of ones budget towards debt relief. If one is using the quadruple budget, 25% of the budget is going towards paying off debt anyways. One can take an extra 5% from the other parts of the budget and put it towards debt. So 40% of ones budget is going towards debt relief. Each part of the quadruple budget is contributing to paying the debt off. Here is what it looks like:
Debt relief 40%
In some cases, the debt is too much and the interest is too high to be able to pay it off in a timely manner. Here, a consolidation loan might be a way to help pay off the debt. Pay everything off at the same time. This can be done by going to ones church and asking for a consolidation loan. They can help with this and may have a program or resources to help one stay out of debt. Make sure to pay it back. They will take the time to counsel individuals in financial planning. This is how it works:
1. Contact ones church
2. Bring financial statements like credit card statements
3. Bring credit cards and follow any other instructions they give
And after all of ones debt has been payed, one can celebrate and be freed from this trap for the rest of their lives.