Course Description

Mastering Debt Management: Unlocking the Secrets to Financial Freedom

Navigating the treacherous waters of debt can be daunting, but with the right guidance, achieving financial stability becomes an exhilarating journey rather than an uphill battle. Our comprehensive course dives deep into the intricacies of debt reduction, offering not just tools, but empowerment for a brighter financial future.

Every individual, at some point in their life, grapples with the challenges of balancing credit, managing debts, and envisioning a life where they stand tall, unburdened by financial liabilities. Recognizing this universal struggle, this course is meticulously designed to transform your understanding of money, debt, and financial freedom.

Let's start by decoding the fundamentals: What really is debt? Often perceived negatively, debt in reality is a financial tool, allowing individuals and corporations alike to seize opportunities otherwise beyond their immediate reach. Whether it's funding your dream home, propelling your startup vision, or even securing that much-needed vehicle for better job prospects, debt can be a strategic ally if managed adeptly.

However, like any powerful tool, debt demands respect and understanding. Our course will delve into the nuanced distinctions between beneficial and detrimental debts. Learn the secrets behind wise borrowing, and discern when leveraging debt can catapult you toward your aspirations or inadvertently shackle you in financial chains.

By journeying with us:

  • You'll master strategies to proficiently manage credit and curtail mounting debts.
  • Discover avenues to amplify your income and harness your spending.
  • Unearth the magic of early retirement savings.
  • Bulletproof your financial future against unforeseen debts.
  • And, most importantly, you'll chart your unique path to coveted financial liberation.

Unveiling the anatomy of various debt agreements, we'll empower you to make informed decisions, ensuring you not only comprehend the obligations but also optimize benefits.

Remember, debt isn't inherently evil; it's the management that makes all the difference. So, whether you're drowning in a sea of consumer debt or just seeking sharper financial acumen, this course is your beacon, guiding you towards fiscal independence and prosperity. Join us, and let's redefine your financial narrative together.

  • 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
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Calculate the debt-to-income ratio using personal financial data and identify its implications on financial health.
  • Define and differentiate between good debt and bad debt by providing examples of each.
  • Calculate personal expenditure percentages for housing, transport, debt payments, and savings using provided financial guidelines and assess financial health.
  • Define the term 'debt spiral' and identify the key factors leading to its onset.
  • Define the term 'underemployment' and explain its impact on young people's financial stability.
  • Identify and describe three key strategies to reduce personal debt and improve financial well-being among young adults.
  • Demonstrate strategies to break the debt cycle by identifying personal finance mistakes and applying corrective actions like negotiating debts and establishing realistic repayment goals.
  • Recognize and evaluate key financial terms such as credit score, bankruptcy, and debt consolidation to improve creditworthiness and financial decision-making.
  • Construct a detailed financial statement reflecting monthly or weekly income and expenditure to identify disposable income for debt repayment.
  • Define and categorize debts as either priority or secondary by utilizing legal sanction information.
  • Evaluate and describe the essential criteria for selecting a reputable debt management agency, including licensing, fee structure, and accreditation status.
  • Identify and explain the differences between charitable and fee-charging debt management agencies based on their services, efficiency, and cost to the consumer.
  • Define the five components of a credit score and explain their impact on overall score determination.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 
 

Assessment Guide

Assessment Points
An Introduction 1 points
Exam 1 50 points
Lesson 2 Activity 1 points
Exam 2 50 points
Lesson 3 Activity 1 points
Exam 3 50 points
Lesson 4 Activity 1 points
Exam 4 50 points
Lesson 5 Activity 1 points
Exam 5 50 points
Exam 6 50 points
Exam 7 50 points
Lesson 8 Activity 1 points
Exam 8 50 points
Exam 9 50 points
Lesson 10 Activity 1 points
Exam 10 50 points
Exam 11 50 points
Final Exam 275 points
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