Online Class: Debt Reduction

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

Self-Paced, Online Class
Library Subscription
 
  • 11
    Lessons
  • 13
    Exams &
    Assignments
  • 6
    Hours
    average time
  • 0.6
    CEUs
  •  
    Video Audit
    Available
 
 

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.

 

Course Lessons

Average Lesson Rating:
4.7 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(682 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.
  • 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.
  • 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.
  • Lesson 4: Mistakes that Keep You Stuck in Debts

    Regardless of how you got yourself into debt, it’s possible to be debt free.
  • 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.
  • 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.
  • 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.
  • Lesson 8: The Path to Financial Security and the Time Values of Money

    Being financially free means different things to different individuals.
  • 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.
  • 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.
  • Lesson 11: Tracking Your Money: Budgeting

    A well-written budget is the foundation on which you should base your financial goal.
 

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 (682 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: This course is online and available in all 50 states including: California, Florida, Georgia, Illinois, New York, Pennsylvania, Ohio, Texas, and Washington.
Last Updated: June 2022
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

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.

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