Online Class: Debt Reduction

$50.00
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$75.00
with CEU Certificate*

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11

Lessons
12

Exams &
Assignments
601

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:

"Extraordinarily Helpful"

(536 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. 50 Total Points

Lesson 1 Video
Review 2 Articles: Debt Glossary; Debt Collection Industry Terms
Take Survey: Reasons for Taking this Course
Complete: 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. 50 Total Points

Lesson 2 Video
Review Article: One-Third of Couples Go Into Debt for Their Wedding Day
Review 4 Videos: 3 Warning Signs of Too Much Debt; Debt warning signs; Top 10 Warning Signs of Debt; Don't go Into Debt To Buy Stupid Stuff - Dave Ramsey Rant
Complete: 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. 50 Total Points

Lesson 3 Video
Review 3 Articles: Too much student debt can lead to turbulence; How to Get Out of Debt: A Step-by-Step Guide to Financial Freedom; Steps to help you get out of debt
Complete: 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. 50 Total Points

Lesson 4 Video
Review 5 Articles: Top Debt Mistakes to Avoid; 7 Financial mistakes to avoid; 3 student loan mistakes to avoid; Top 7 worst credit card mistakes; The biggest money mistakes millennials are making
Complete: 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. 50 Total Points

Lesson 5 Video
Review 5 Articles: Get Out of Debt With the Debt Snowball Plan; Video: How To Create a Debt Reduction Plan in Quicken; 4 Free Debt Reduction Spreadsheets; Calculator: When will I be debt-free?; 33 Proven Ways to Reduce Personal Debt
Complete: 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. 50 Total Points

Lesson 6 Video
Review 4 Articles: Best Debt Management Companies for 2016; 10 Things You Should Know About Debt Management Programs; What Types Of People Are Best Suited For A Debt Management Plan?; ?Should I Choose Debt Management Or Debt Settlement??
Complete: 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. 50 Total Points

Lesson 7 Video
Review 4 Articles: Understanding Your Credit Score; 10 Things Consumers Don't Understand About Credit Scores; Want to Raise Your Credit Score? Here's a Clever Way to Do It; Take these steps to improve your credit score
Review 3 Videos: Understanding your Credit Score | by Wall Street Survivor; How To Raise Your Credit Score: Killer Strategies; The Best Strategies For Increasing Your Damaged FICO Scores - Boost Credit Standing
Complete: Exam 7

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

Being financially free means different things to different individuals. 50 Total Points

Lesson 8 Video
Review 3 Articles: How Do You Know if You're Financially Free; Financial Freedom: What Does It Mean To You and How Do You Achieve It?; 6 Reasons Why You Will Never Become Financially Free
Review 2 Videos: How to create a financial plan for yourself; Personal Financial Planning Tips : How to Create a Financial Plan
Complete: 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. 50 Total Points

Lesson 9 Video
Review 5 Articles: Retirement Savings Calculator; What Your Retirement Savings Should Look Like at Age 50; The Average Retirement Savings by Age for 2016; 5 Mistakes That Are Reducing Your Retirement Savings; Meet 3 ordinary people with bigger-than-usual retirement savings
Complete: 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. 50 Total Points

Lesson 10 Video
Review 3 Articles: 8 Steps You Can Take Starting Today to Dramatically Increase Your Income; Increase Your Income in Ways Most People Don't Know; Increase Your Disposable Income
Review Video: 10 Ways To Make Money: Maximizing, Creating And Increasing Your Income
Complete: 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
Take Poll: End of Course Poll
Take Survey: Course Comments
Take Survey: Program Evaluation Follow-up Survey (End of Course)
Complete: Exam 11
Complete: Final Exam

825

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, and
Demonstrate mastery of lesson content at levels of 70% or higher.

Additional Course Information

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