Managing Personal Debt ($29.95)
Making the decision to dump your debt is a noble one. But there are many wrong ways to go about accomplishing this task. Some moves can actually cost you more in the long run. The purpose of this Webinar is to show you how to get out of debt and stay out of debt as well as how to manage your debt while you are getting out of debt. (That's a mouth full)
I can't tell you how many times I have been debt free. In most cases I stayed debt free for about four months, but I really wasn't debt free. Consolidating your bills does not make you debt free. What I have learned over these years is what it takes to become debt free from a financial perspective. First is desire. You must want to be out of debt, often this is driven by the lack of money to even pay the bills. Obviously, there's nothing left to build wealth with.
Next, is the need for education and information. Education is needed to understand the problem of debt; it is also needed to dispel the numerous myths about debt. For example, a common myth relates to the question of which of your bills would you apply an extra $10 to this month? The most common answer is the bill with the highest interest rate, as you will see; this is truly a myth and what's interesting is that it is supported by numerous spokespersons of the financial community.
Information - it is impossible to make intelligent decisions without good information. Usually, the only information we have about our bills is the balance, the payment and with some effort we can find the interest rate, hardly enough information to make decisions. For example, with just that information, can we determine which bill should get the extra dollars, or how much is my total debt or how much interest is scheduled to be paid based on the current payment amount. We need more information about our bills.
Interestingly enough, this information is mathematically derived which leads me to the third requirement to become debt free and that is tools. Tools that will do the calculations and develop the information needed to make sound financial decisions about debt. Note that the tools are based on the Time Value of Money or Financial Literacy. So, to become debt free three things are needed:
- Education, information
- Tools (Financial Literacy)
Much of this Webinar is based on Professor Bill's book Leveraged to the Hilt? If you are interested in purchasing Professor Bill's book, from the Main Menu, please CLICK Miscellaneous/Our Products.
Click on the Schedule and Information menu for pricing and scheduling information for this Webinar.