Everyone who finds themselves in debt got there from a unique set of circumstances. In our modern culture, it’s not only extremely easy to get into debt – it’s encouraged and promoted. We are offered big ticket items with low monthly payments, high-interest credit cards with 0% introductory rates, delayed payment student loans, and all kinds of financial trappings that make it too easy to buy now without realizing how much we’ll have to pay later.
When you’re ready to get out of debt, the next logical step is to create a debt repayment schedule. Figuring out a repayment plan may leave you with more questions than answers, such as:
- How much debt am I in?
- How long will it take me to get out of debt?
- How much money can I afford to put toward my debt?
- Which debts should I prioritize?
- How did I even get into debt in the first place?
A debt planner can help you sort through this information to get you started. But a plan is only helpful if you’re able to follow through with it.
What Makes a Good Debt Management Plan?
If you’re serious about getting out of debt, then the secret to a good debt management plan is working with a professional who can develop a personalized strategy that fits your lifestyle. This not only takes the hard part of figuring out financial management off your shoulders, but a personalized strategy is one that ensures you’re able to stick with the plan long-term.
A financial coach will also hold you accountable, help you develop healthy financial habits, and teach you money management skills that will stick with you long after debts have been paid so you’re able to stay out of debt and save for future goals.
Three Things the Money Coach Debt Management Program Provides
Our Debt Management Program takes a holistic approach when it comes to creating a personalized debt management plan for an individual or family. We take your whole financial picture into account, which includes unmeasurable factors such as your habits, attitudes, and lifestyle. We then help you reach your financial goals by first eliminating debt that is holding you back from living your dreams. Our program includes:
1. Financial Consulting
Consulting is the personal, one-on-one coaching that helps you gain insight into your own finances. Once we have all your financials together in a Personal Financial Planner, it’s easier to see where the issues are, what’s causing them, and how to overcome them. The whole point of coaching is to help you better understand your finances so you become great at managing them.
Our Money Coach consulting is different from others because we not only share cost saving ideas, we share income generating ideas with you as well. We also provide ongoing financial education so you’re better educated and prepared to make better financial decisions long-term.
2. Personalized Debt Management Plan
We will recommend some well-established formulas for paying down your debt, as well as ideas and strategies based on your own circumstances. There are plenty of debt relief agencies that want to sell you a specific plan, that may promise to erase debt, clean up your credit score, or reduce your balance owed. We know that some of these quick fixes can do more harm than good. Our goal is to help you become financially healthy, so that once your debt is gone, it’s really gone, and you know how to avoid creating future debt.
3. Client Resource Portal
One reason people get into debt is a lack of visibility into their own finances and no simple way to organize everything. You may be spending on credit cards, using auto-pay, tap to pay – all kinds of ways that are convenient but scattered. Money Coach gives you easy access to your Personal Financial Plan, and all your educational materials you need through a secure portal. It’s a way to organize and access important financial education materials, and refer back to them at any point in time.
Eliminating debt can seem impossible and overwhelming, but you don’t have to feel alone and helpless in this journey.
Money Coach provides caring and qualified help to get you out of debt and on your way to financial freedom. Give us a call for a free consultation at 302-339-1296.