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Six Lessons on How to Manage Your Debt (That You Probably Didn’t Learn in School)

By , Posted on Sep 30, 2016
Personal Finance
Personal Finance

Manage Your DebtSchool is back in session, and even if you’re not back in school yourself, it’s always a good idea to learn new things. To help you, we’ve provided 6 lessons on how to manage your debt that you may not have learned in school.

1.  GEOGRAPHY – Denial Isn’t a River in Egypt, or a Strategy to Manage your Debt

As the world’s longest river, the Nile has been steeped in mystery. While it was the birthplace of countless civilizations, it’s source wasn’t officially discovered until 1858.

The same holds true for credit card debt.

Simply paying off debt, or moving it around isn’t enough. You need to take the time to understand the source of your spending and saving habits so you can avoid making the same mistakes over and over again.

The first step is to download our free guide – Get Free from Credit Card Debt in Five Years or Less. You’ll learn valuable strategies for saving money every month and learn how a Debt Management Plan can help you manage your debt.

2.  SOCIAL STUDIES –Not all Debt Management Plans Are Created Equal

Thomas Jefferson was a brilliant writer, ambassador, Secretary of State, inventor and U.S. President. Where he wasn’t as talented was at managing his personal finances. At the end of his life, he was forced to sell off a great deal of his estate (including slaves) to pay off his outstanding debts.

Many of us don’t have the advantages that Jefferson did. The good news is that there are many more options available to us to manage our debt. Unfortunately, not all of those options are created equal. Understanding these differences is the key to a successful debt management plan. That’s why we created our free guide that compares Debt Management with Credit Card Consolidation and Debt Settlement. It will help you understand the key differences between these different plans and help you find the solution that will provide the best possible outcome for your finances.

3.  MATH – Numbers Don’t Lie

Einstein famously said that “God does not play dice with the Universe.” Credit card companies don’t either. They have carefully set their minimums and interest rates so that they make money every time you don’t pay off your balance in full.

If you want to understand how this works, you may want to look at our Credit Card Payoff Calculator. Simply enter your debt, your minimum payment and you’ll see how much interest you could be paying on your credit cards. Want a better solution? Our Debt Management Plan Payoff Calculator can show you how much you could be saving with a Debt Management Plan.

4.  PHYSICAL EDUCATION – You Don’t Have to Break the Bank to Stay Fit

If we learned anything from gym class, it was the fact that even the sight of a dodgeball could make us sweat. The same is true with exercise. It doesn’t take a lot of money to stay fit, all it takes is a little creativity and a plan.

5.  TECHNOLOGY

Gone are the days when the height of educational technology was a VCR and TV on a cart or an overhead projector. Today in schools, technology is everywhere, and the A/V Squad has gone from the bottom of the social ladder to tomorrow’s future tech billionaires.

Unfortunately, the cost to stay connected keeps rising. Cable TV is one of the fastest growing home expenses. By 2020, it’s already expected to top $200 a month. Cutting the cord on cable is a proven strategy that can save you over $500 a year; while still allowing you to enjoy all your favorite TV shows, sports, and movies. To learn more, we’ve created a free webinar on how to cut the cord that explains it all for you.

6.  HIGHER EDUCATION

If you thought high school was challenging, wait until you get the bill for your student loans. Student debt has become one of the biggest financial issues of our time. The good news is that help is available. We can help you learn how to manage your student loan debt. Then we can provide valuable advice on how to structure your budget so that you can manage student loan payments in the future.

Want to learn more lessons in how to manage your debt?

Schedule a free counseling session today.

Or schedule an appointment by calling DebtHelper.com at 800-920-2262.

Get Free from Credit Card Debt in Five Years or Less

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