Getting debt-free: The next hurdle of freedom for the black community
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).
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.
I realize that you cannot get out of debt alone and without a plan, as well as support. Therefore, being on this crusade has made me realize that everyone needs tools to help them on this journey towards financial freedom. Hence, I authored dfree: Breaking Free from Financial Slavery, and  a new workbook titled, dfree Lifestyle:12 steps to Financial Freedom, Say Yes to No Debt, to assist African-American consumers on the journey to financial freedom.
More tools of financial empowerment
Next, I created a new web series based on the book called, dfree to be Free, which airs on the Alright TV Network, and is produced by Robert L. Johnson, founder and chairman of The RLJ Companies and Tracey E. Edmonds, president and CEO of Alright TV. The web series brings the new workbook to life by providing a visual narrative on how viewers can better manage their finances to achieve true financial freedom.
Together, the workbook and the web series are innovative financial tools that can assist African-Americans, as well as all consumers, in becoming debt free.
Finally, I am leading the second annual dfree Conference, from October 31-November 2, 2013, which is a three-day event devoted to presenting forward thinking seminars, training and expert panel discussions all rooted in empowering our attendees towards financial freedom.
Founder of BET and Chairman and Founder of RLJ Companies, Robert L. Johnson, will headline an all-star cast of financial empowerment speakers on how to strategically pay off debt and achieve financial freedom.
Other speakers include Thasunda Brown Duckett, CEO of Auto Finance and Student Loans for JPMorgan Chase; Marcia Griffin, president of HomeFree-USA; Rev. Timothy Winters, pastor emeritus for Bayview Baptist Church; Charles Corpening, chairman of Joshua Partners; and Dee Marshall, founder of Girlfriends Pray.
Topics covered in the seminars will include debt reduction, housing, insurance, investment planning, legal matters and student loans.
At the end of the day, our conference will work to help all consumers get started, get control and get ahead of their financial management. Once they achieve that, they will then have the ability to give back. And, that is truly where a wealth mindset begins.
Join the dfree journey
I believe we can create a movement that transforms our community so, that through financial empowerment, we can have greater social and political freedom.
I have done the same with my church, and for several church communities that have used my programs to help both the church institution and its members reduce debt and gain financial control.
Now is the time to take these concepts out of the pulpit and directly to the people. Join me here on theGrio.com and on the various platforms listed here to get in on the movement. I will be posting to theGrio regularly, so please feel free to leave comments and questions about the dfree movement on these posts. And of course, please ask yourself:
Are you ready to be dfree?
Dr. DeForest B. Soaries, Jr. is the senior pastor of First Baptist Church of Lincoln Gardens in New Jersey and author of ‘DFree: Breaking Free from Financial Slavery.’ His DFree® strategy is designed to lead people out of debt to attain financial independence. Recently, Soaries announced the Billion Dollar Challenge, a campaign challenging people to pay off $1 billion in debt. Participants can track their progress online at www.billiondollarpaydown.com. For more information on the Dfree® lifestyle movement, visit mydfree.org.
