This course was created by WealthFit. We are pleased to host this content in our library.
- Protecting what you have
- Saving and building liquidity
- Eliminating debt
- Using the 10-20-70 rule
- Prioritizing debts
- Using a debt worksheet to pay off and restructure debt
- Real-life examples to pay off debt
- Using credit cards
- Investing your money wisely
Skill Level Beginner
- You want to get out of debt. Good for you. Throughout this course, you're going to discover tips, strategies, and simple evaluation tools that will equip you to not only get out of debt, but to accelerate the process in a productive way. This will allow you to get on with achieving the financial goals you have for your life, goals that go far beyond getting out of debt. During this course, we're not going to focus on why you got into debt in the first place. Maybe you had some unforeseen financial setbacks or some health challenges. Maybe you used credit cards unwisely. Maybe you were naive about credit cards and how the debt could really stack against you. It really doesn't matter how you got into your present situation, and dwelling on it isn't going to do anything to empower you to change the facts. The biggest key to your success is that you have a desire to get out of debt and make some changes to your money mindset. So here are important things to remember during this process. Achieving your goals takes time, and it's good to remember the old adage Rome wasn't built in a day. Be patient with the process of the destruction of your debt so that you can have a solid foundation to build up again. Acknowledge your new mindset and the gaining of knowledge that will allow you to put into practice the things that will help you get out of debt successfully. Do speak positive messages to yourself. Your self-talk is important, and rather than using self-deprecating phrases, change your vocabulary and the messages you tell yourself. Think and say things like, "I'm overcoming financial debt," "I am learning to be a better money manager," and, "I'm positioning myself for better financial opportunities." If you are married and working on this journey together, that's great. Since disagreements about money matters are noted as the number one cause for divorce, overcoming the challenge of debt will go a long way in helping you to have a more successful marriage. Work together alongside each other, and be sensitive to each other as you tackle the challenge. Don't speak of it as a his problem or her problem. In fact, don't speak of it as a problem at all. Speak of it as a challenge that you're overcoming together. How you think and speak about something really matters.