Online Class: Debt Reduction

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11Lessons
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13Exams &
Assignments -
6Hours
average time -
0.6CEUs
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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
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
- 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

- 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

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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