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Misguided Priorities and $700,000 in Debt!

A lavish life-style and major debt left Bob and Pam with little satisfaction in life. See the choices they made that paid off their debt and revealed what was really important. Read Transcript


Reporter: BOB AND PAM

PLASTO WILL NEVER FIGURE

FORGET THE NIGHT THEY ADDED

UP ALL OF THEIR DEBT.

THAT DEBT WAS OVER

$700,000 WORTH OF DEBT

BETWEEN CREDIT CARD DEBT AND

CARS AND THE HOUSE.

I REMEMBER LOOKING AT HIM

AND SAYING, HOW IN THE WORLD

DID WE DO THIS?

Reporter: BOB AND PAM

BEGAN SPENDING IN 2004, WHEN

BOB LEFT A COMFORTABLE JOB

TO START A COMPUTER

CULTUREING FIRM.

THE COMPANY BEGAN TO

THRIVE.

THAT'S WHEN BOB SAID HE

WANTED TO SHOW OFF HIS

SUCCESS.

I HAD THE FEELING, I OWN

MY OWN BUSINESS, I HAVE

PEOPLE WORKING FOR ME.

I NEED TO HAVE A NICE CAR.

I NEED TO HAVE A NICE

HOUSE.

WE SPENT MONEY AND WE ALWAYS

THOUGHT, WELL, WE'LL FIGURE

IT OUT LATER.

TRYING TO LIVE THE AMERICAN

DREAM.

Reporter: THE CREDIT

CARD COMPANIES WERE HAPPY TO

HELP THE COUPLE SPEND MORE

MONEY THAN THEY HAD.

WE JUSTIFIED BECAUSE WE

WOULD PAY A GOOD CHUNK OFF

ON THIS ONE OR A GOOD CHUNK

ON THIS ONE.

WE'RE OKAY.

AT ONE POINT WE HAD FOUR

DIFFERENT CAR PAYMENTS ON

FOUR DIFFERENT VEHICLES ALL

AT THE SAME TIME.

Reporter: DESPITE THEIR

CREDIT CARD DEBT, BOB AND

PAM ALWAYS GAVE TO THEIR

CHURCH AND STARTED GIVING TO

"THE 700 CLUB" IN 2004.

BOB WAS PRAYING ABOUT THEIR

FINANCIAL CONDITION, TOO.

THAT WAS DEFINITELY MY

MOMENT OF, OKAY, I HUMBLE

MYSELF BEFORE YOU, GOD.

I'VE MADE MISTAKES.

I'M SORRY ABOUT THOSE

MISTAKES.

AND HE DEALT WITH MY PRIDE

ON IT.

Reporter: BOB AND PAM

DRASTICALLY CUT THEIR LIVING

EXPENSES.

NO MORE DINING OUT OR

EXPENSIVE TRIPS.

FOR FUN, WE WOULD PLAY

GAMES AND GO FOR WALKS.

WE WERE STAYING HOME AND

WE HAD SO MUCH TOGETHER

TIME.

Reporter: AND BOB SOLD

HIS BRAND NEW,

CUSTOM-DESIGNED

G.T.MUSTANG.

I LOVED THAT CAR, I LOVED

THAT CAR, AND I REALLY FELT

GOD TELLING ME YOU HAVE TO

GET RID OF THAT CAR.

THAT'S THE ICON WHERE YOU

WENT WRONG.

THEN I BOUGHT WITH CASH A

CAR I COULD AFFORD.

Reporter: AND THEN THE

COUPLE MADE ANOTHER

DECISION: THEY INCREASED

THEIR GIVING.

IT SEEMED THE MORE WE

GAVE, THE MORE OUR DEBT WENT

AWAY.

Reporter: MONTH BY

MONTH, THEY SAY A DECREASE.

IN 2006, THEIR BUSINESS

PROFITS TRIPLED OVER THE

FORMER YEAR AND DOUBLED

AGAIN IN THE NEXT YEAR.

IN 2011, BOB AND PAM PAID

OFF THE LAST OF THE THEIR

$700,000 DEBT.

I HAD TO EVALUATE WHAT

WAS VALUABLE TO ME IN LIFE.

IT WASN'T THE STUFF.

IT WAS MY FAMILY.

IT WAS MY KIDS.

IT WAS MY WIFE.

HE CAN HAVE FUN MAKING

MONEY, AND THE MORE MONEY HE

MAKES, THE MORE FUN I HAVE

GIVING IT AWAY.

WHEN YOU TITHE AND YOU'RE

OBEDIENT, HE BLESSES YOU.

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