( CNN ) -- When I was a child , I always wondered how an ocean liner could fit on my street . Never mind that a ship needed water . I lived on a small street in a small town in northern New Jersey and my father would constantly make reference to a time when his ship would come in . I later learned that this was a figure of speech that described a future time when our family 's financial resources would increase . And until that time arrived , we would live within our means and limit our purchases to those items that we could afford . My father was committed to debt-free living . Now that I am an adult , I understand this commitment more than ever . My congregation embarked upon a debt-free mission five years ago that has reaped tremendous rewards for many of our families . The mission is called `` dfree '' and the `` d '' stands for debt , delinquencies and deficits . We are attempting to break the culture of debt that has become a plague in our society and start a family-based economic empowerment movement . The three focal points of debt , delinquency and deficit represent the cornerstones of family financial strength . First , debt : Americans owe a lot of money . The levels of family debt are threatening our ability to develop any meaningful wealth or to pass that wealth on to future generations . Second , the commitment to eliminating delinquencies means that we , as a congregation , are pledging to pay our bills on time . Late payments lower our credit scores and this causes us to pay higher interest rates even on good debt such as mortgages . Lastly , to be free of deficit living means to live within our means and thus eliminate the need to close our spending gaps by using high interest credit cards or -- even worse -- alternative financial services such as payday loans , pawnshops and rent-to-own schemes . These three objectives are the foundation of our dfree campaign . In formulating our campaign , ( participation is free ) we discovered that there is an abundance of educational and informational materials available for people who want to become financially literate and economically self-sufficient . The challenge is to motivate people to find and apply the information . Therefore , dfree is a strategy rather than just a curriculum . Dfree does involve classes , seminars and other events . But the driving principle is to popularize debt-free living and to teach people how to achieve it . When church members testify on Sundays during the worship experience that they have paid off multiple credit cards or finished paying for a car , the entire congregation affirms them by celebrating their victory with handclaps and shouts . Such affirmation and celebration has begun to change the culture of our entire membership . This is an important mission for our church , but any church can do it . This ministry helps strengthen families , it builds self-esteem and it increases the capacity of the church itself . We built a new church complex in the 1990s that put the church $ 20 million in debt . Our leadership agreed that if the church helped the members get out of debt , perhaps the members would help the church get out of debt . And that is exactly what began to happen within months of our starting the dfree ministry . The dfree approach is not only good for churches . Community organizations , credit unions and student groups can also adapt the strategy for their members . Every organization that cares about its members has the potential to help them break the cycle of debt in their lives . The dfree instruction gives people a chance to grow in groups and the teaching is divided into four levels : 1 . Get Started ; 2 . Get Control ; 3 . Get Ahead ; 4 . Give Back . Each unit lasts three months and includes training designed to help students become teachers . Merchandise and tools are available for churches that decide to become a part of the dfree movement . Dfree has also formed a partnership with a national bank that provides a low-cost , custom prepaid debit card that eliminates bank overdraft fees that can be so expensive . This debit card is a key tool for those attempting to take control of their finances . We also have a dfree pledge that we provide all of our members . This plastic card is the size of a credit card that serves as a reminder to `` Say yes to No Debt . '' The dfree pledge is on the back of the card : . I pledge to : . • Apply biblical principles in managing my finances . • Keep my expenses below my income . • Pay my bills on time . • Invest in assets that grow in value . • Contribute to my church and its ministries . There are many definitions of freedom . Given the avalanche of bankruptcies , foreclosures and high-interest credit card debt that many people are experiencing , there may be no greater need than to understand the value and joy of debt-free living . There may be no greater legacy we can leave our children . Our ships can come in if we make a commitment to debt free living and teach our children how to manage money and invest in their futures . The opinions expressed in this commentary are solely those of the Rev . DeForest Soaries , Jr .
The Rev . Soaries says part of mission is helping church fight debt , delinquencies , deficit . Church devised dfree program to guide congregants , others in resolving debt , he says . Once they do this , he says , community will also help church pay off cost of new building . Soaries : There 's joy , joy in debt - free ministry ; it 's important not to give to children .