The Billion Dollar Challenge
To appreciate the importance of the Billion Dollar Challenge you first need to know about the dfree® financial freedom movement. dfree® is a transformative faith-based, wealth building system specifically designed with the black community in mind. The program includes a variety of tools to educate, motivate and support people who choose to achieve and sustain financial freedom. It utilizes a 12-step process that allows the individual to address the emotional and psychological issues that contribute to their financial situation. Through values-based principles and practical approaches to financial management, thousands of individuals, churches and other groups are finding and achieving their life’s purpose through the dfree® movement.
The Billion Dollar Challenge is the civil rights mission of dfree® to continue the legacy founded by Dr. Martin Luther King, Jr. of financial wellness and empowerment for all. As the economic situation of people is improved new options and resources become available creating pathways that seemed unattainable in the past. The ability to increase your education, become an entrepreneur and invest in wealth creation becomes a reality. Chief among all the options is the ability to leave a legacy for future generations.
To learn more about the dfree® movement check out the following resources and tools:
- “Say Yes to No Debt: 12 Steps to Financial Freedom” by dfree® Founder DeForest B. Soaries, Jr. (add link to book and workbook)
- Take a free class from the dfree® academy at dfree® Academy
- Learn, Launch, Lead and Look Ahead webinar series, which builds a dfree® community within your church, organization or group of individuals Learn, Launch, Lead and Look Ahead webinar series
- Visit the dfree website dfree® website
Frequently Asked Questions about the Billion Dollar Challenge (BDC)
How much does it cost? The BDC is a free, national economic campaign created to educate and inspire people to pay off debt. The easy-to-use financial management tools are an easy way to help budget and plan for a more economically stable future.
What is the purpose of the BDC? Our goal is to pay off $1 billion in consumer debt by 2020 and get closer to achieving economic stability in our community. Join us to realize your personal financial freedom as we show people what is possible when working together.
How do I sign up? From the BDC homepage select the Join Now button. Follow the prompts on the screen to personalize your Dashboard and plan (for additional assistance see the Tutorial tab on the main menu). Enter your debt Pay Down goals and track your progress after you make your regular payments. The information you enter is confidential and only available to you. The system will collect no account numbers or other identifying material.
How does the BDC Calculator help me reach my goal? When you enter a goal of how much you want to pay off by when the BDC calculator automatically computes the monthly payments needed to reach the goal. Numbers can be updated to create a realistic goal. After entering your bills, the system will develop a Debt Plan and the foundation for your overall budget.
Why do I need to update my BDC dashboard? The system tracks your progress, including personalized debt reduction, paydown tickers and savings plans. It also has other important challenge information – such as your accounts, groups and forums. However, the content is only as current as your updates. Refresh your data to stay on target to achieve your goals.
How do I start a group? Select the Group Management tab and follow the prompts. You can invite your friends and acquaintances or allow others on the BDC website to join your team. Use camaraderie,
accountability and a little competitiveness to encourage others to maintain excitement as they reach for their goals.
Are there any special messages for Millennials and Gen Zers? Yes, dfree® Young Money wants to connect and assist you in securing the bag. Their goal is to provide the knowledge you need to make smart money moves now. Additionally, they have their own BDC group appropriately named ‘dfree Young Money.’ Learn how they are building billionaires and check out some of their resources at https://mydfree.org/young-money/home/.
How can I win prizes? The BDC offers cash and other rewards for your efforts. Contests change throughout the year so pay attention to the news and the site banner opportunities. There are generally new prizes available each quarter.