Online Class: Debt Reduction

This course teaches the concept of debt reduction and shows students how to wisely manage credit and personal debt.

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$75.00 (with CEU Certificate)
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  • 11
    Lessons
  • 13
    Exams &
    Assignments
  • 888
    Students
    have taken this course
  • 6
    Hours
    average time
  • 0.6
    CEUs
 
 

Course Description

This course teaches the concept of debt reduction and shows students how to wisely manage credit and personal debt. It is based on the premises that there are a lot of lifestyle changes and financial decisions that one can make to take control of his or her financial position. However, most of the steps, procedures, and advice offered in this course can be equally helpful in managing personal finances with the ultimate goal of attaining financial freedom. By the end of the course, the leaner should be able to...

  • Manage credit and debt effectively
  • Increase income
  • Control expenditure
  • Save early for retirement
  • Debt-proof his/her future
  • Attain financial freedom

What Is Debt?

Debt is simply defined as an amount of cash borrowed by a person from another person, a financial institution, or the government. For instance, if you go to a bank and borrow $50,000, this will be considered a debt – you will owe the bank the $50,000 plus the interest accrued thereof.

Debt is used by both individuals and corporations as a way of making big purchases which they cannot afford under ordinary circumstances – purchases they can't finance upfront.

A debt agreement, also called debt arrangement, is the document used to give you the authorization to borrow the cash and the conditions under which you will repay the money at a future date, and often with interest.

Consumer debt refers to debts that arise from purchase of goods that do not appreciate in value and/or are consumable. Possessing some level of consumer debt pays off if the debt was incurred to purchase an asset needed to boost one's earnings. For example, borrowing to finance a car is a wise decision if you need it to travel to work at a higher paying job.

However, high level of consumer debt is not good because it puts too much strain on your income. If unchecked, consumer debt can lead one into the debt spiral and/or bankruptcy.

  • Completely Online
  • Self-Paced
  • Printable Lessons
  • Full HD Video  
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 

Course Lessons

Average Lesson Rating:
4.7 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(634 votes)

Lesson 1: The Concept of Debt

Debt is simply defined as an amount of cash borrowed by a person from another person, a financial institution, or the government. Additional lesson topics: Debt Glossary; How to Get Out of Debt, Stay Out of Debt; Debt Collection Industry Terms; The Total Money Makeover Workbook 51 Total Points
  • Lesson 1 Video
  • Lesson discussions: Reasons for Taking this Course
  • Complete Assignment: An Introduction
  • Assessment: Exam 1

Lesson 2: The Debt Spiral - Warning Signs

The debt spiral starts quite innocently. Often, it starts with a simple financial mistake such credit card mismanagement. Additional lesson topics: One-Third of Couples Go Into Debt for Their Wedding Day; Several Warning Signs of Too Much Debt; Debt warning signs; Don't go Into Debt to Buy Stupid Stuff; Several Warning Signs of Debt 50 Total Points
  • Lesson 2 Video
  • Assessment: Exam 2

Lesson 3: Young People and the Debt Trap

The 21st century generation is struggling under the weight of heavy college loans as well as other debt – a heavy load that sets it apart from the past generations. Additional lesson topics: How to Get Out of Debt: A Step-by-Step Guide to Financial Freedom; Too much student debt can lead to turbulence; Teenagers and Financial Debt; Steps to help you get out of debt; Warren Buffett and Debt 50 Total Points
  • Lesson 3 Video
  • Assessment: Exam 3

Lesson 4: Mistakes that Keep You Stuck in Debts

Regardless of how you got yourself into debt, it’s possible to be debt free. Additional lesson topics: Several worst credit card mistakes; Debt Mistakes to Avoid; Several Financial mistakes to avoid; The biggest money mistakes millennials are making; Several student loan mistakes to avoid 50 Total Points
  • Lesson 4 Video
  • Assessment: Exam 4

Lesson 5: Debt Reduction Plan – How to Become Debt Free

The increased accessibility of credit facilities via banks, loans, and cards has resulted in a sharp rise in debt and the number of people experiencing financial difficulties. Additional lesson topics: Calculator: When will I be debt-free?; Get Out of Debt With the Debt Snowball Plan; Video: How to Create a Debt Reduction Plan in Quicken; Several Proven Ways to Reduce Personal Debt; Several Free Debt Reduction Spreadsheets 50 Total Points
  • Lesson 5 Video
  • Assessment: Exam 5

Lesson 6: Dealing With Debt Management Agencies

Charitable agencies are different from agencies or firms that claim to provide “free help.” Most “free debt management agencies” only claim to be free, but they have other means of charging you. Additional lesson topics: What Types Of People Are Best Suited For A Debt Management Plan?; Best Debt Management Companies for ; “Should I Choose Debt Management Or Debt Settlement?”; Several Things You Should Know About Debt Management Programs 50 Total Points
  • Lesson 6 Video
  • Assessment: Exam 6

Lesson 7: Strategies to Boost Your Credit Score

A credit score is a number that allows lenders to know how much of a credit risk a person is and how well he/she is at repaying his/her debts. Additional lesson topics: Want to Raise Your Credit Score? Here's a Clever Way to Do It; Take these steps to improve your credit score; How to Raise Your Credit Score: Killer Strategies; Several Things Consumers Don't Understand About Credit Scores; The Best Strategies For Increasing Your Damaged FICO Scores; Understanding Your Credit Score 50 Total Points
  • Lesson 7 Video
  • Assessment: Exam 7

Lesson 8: The Path to Financial Security and the Time Values of Money

Being financially free means different things to different individuals. Additional lesson topics: How to create a financial plan for yourself; How Do You Know if You're Financially Free; Financial Freedom: What Does It Mean to You and How Do You Achieve It?; Personal Financial Planning Tips : How to Create a Financial Plan; Several Reasons Why You Will Never Become Financially Free 50 Total Points
  • Lesson 8 Video
  • Assessment: Exam 8

Lesson 9: The Importance of Saving for Retirement Sooner Rather Than Later

Saving for retirement removes tomorrow doubts by allowing you to set money aside for retirement years. Additional lesson topics: 5 Mistakes That Are Reducing Your Retirement Savings; Retirement Savings Calculator; What Your Retirement Savings Should Look Like at Age 50; Meet Several ordinary people with bigger-than-usual retirement savings; The Average Retirement Savings by Age for 50 Total Points
  • Lesson 9 Video
  • Assessment: Exam 9

Lesson 10: Pain-Free Ways to Increase Your Income

Income is money a business or a person receives in exchange for a service, good or investing capital. It is consumed to finance debts, daily expenditures, savings and investment. Additional lesson topics: Increase Your Income in Ways Most People Don't Know; Several Ways to Make Money: Maximizing, Creating and Increasing Your Income; Increase Your Disposable Income; Several Steps You Can Take Starting Today to Dramatically Increase Your Income 50 Total Points
  • Lesson 10 Video
  • Assessment: Exam 10

Lesson 11: Tracking Your Money: Budgeting

A well-written budget is the foundation on which you should base your financial goal. 325 Total Points
  • Lesson 11 Video
  • Review 2 Practice Worksheets
  • Lesson discussions: End of Course Poll; Course Comments; Program Evaluation Follow-up Survey (End of Course)
  • Assessment: Exam 11
  • Assessment: Final Exam
826
Total Course Points
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Describe what debt is.
  • Recognize the debt spiral - warning signs.
  • Identify the debt trap.
  • Recognize mistakes that keep you stuck in debts.
  • Develop a debt reduction plan.
  • Describe strategies to boost your credit score.
  • Determine the importance of saving for retirement sooner rather than later.
  • Describe methods to track your money.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
 
Course Title: Debt Reduction
Course Number: 9770467
Lessons Rating: 4.7 / 5 Stars (634 votes)
Languages: English - United States, Canada and other English speaking countries
Last Updated: July 2021
Course Type: Self-Paced, Online Class
CEU Value: 0.6 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Instructor: Linda Zavadil
Syllabus: View Syllabus
Course Fee: $75.00 U.S. dollars

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Student Testimonials

  • "I thought it was very insightful and there was definitely information I can utilize." -- Jessica M.
  • "Great course, some of the tests/exams were hard." -- Jennifer J.