Welcome to the all new Definitive Guide to a Debt Free Life! This going to be an ongoing series we’ll be releasing over the next few months – every Tuesday and Thursday! Take a look at our introduction below and get ready for Chapter 1 tomorrow!
Struggling with debt and finding debt relief advice, information, and resources is hard enough as it is. We wanted to give you the most extensive and detailed guide to make getting out of debt and into a debt free life as easy as possible.
While much of the information in our definitive guidebook has been previously discussed on our blog, our guidebook puts this information into one place in a logical and intuitive order. During the construction of the guidebook we have included additional useful information that cannot be found on our website.
This resource is packed to the brim with the most effective, efficient, and actionable ideas, methods, and strategies that are available today. This information will help you get your debt situation under control, get out of debt completely, and prevent yourself from falling into debt ever again.
We have included everything from a basic definition of debt to understanding your credit report to finding debt help to understanding student loans to planning for your retirement.
No one wants to be in debt. Use this guidebook and you’ll learn everything you need to know to live the debt free life.
Who Should Use This Guide
This guidebook is for anyone and everyone that is struggling with debt. We have made it as thorough as possible while also covering as many topics and sub-topics as we could.
- If you’re up to your neck in debt, then The Definitive Guide to a Debt Free Life is for you!
- If you’ve taken out loans and are worried about paying them off in time, then The Definitive Guide to a Debt Free Life is for you!
- If you don’t understand your credit card or how it affects your credit report, then The Definitive Guide to a Debt Free Life is for you!
- If you’ve tried to get out of debt before with little to no success, then The Definitive Guide to a Debt Free Life is for you!
- If you’re worried about your retirement savings or having debt in retirement, then The Definitive Guide to a Debt Free Life is for you!
Simply put, our guidebook was created with everyone in mind. If you have a problem or question involving debt, credit, or money management, then chances are that you’ll find your answer in here.
Use this guidebook to get the debt free life that you deserve.
How to Use This Guide
Because The Definitive Guide to a Debt Free Life was written with a wide and varied audience in mind, it can be used in several ways.
It is a definitive guide so it contains nearly all of the information that you need to know about debt. You can treat it as a complete debt relief resource and read it from beginning to end to pick up the most knowledge possible.
If you feel that you already have a handle of the basics of debt, the guidebook’s individual chapters are useful resources. You can skim through it or pick and choose to read the chapters that are of the most interest to you. You are sure to learn a helpful new strategy or two if you do this.
No matter your reason for reading the guide, you’re sure to find some reason to add its contents to your arsenal of knowledge. Use this guide however you wish, however it will most benefit you, and you’re sure to add to the depth and breadth of your overall knowledge on debt.
An overview of each chapter of the guidebook is provided below:
Chapter 1: What is Debt?
If you’re interested in this guidebook, then chances are that you or someone close to you is struggling with debt. In this case, there is no doubt that you have a basic understanding of your debt problem, but how much do you really know about debt?
This chapter breaks down debt piece by piece, looking at several primary types including secured and unsecured debt. It will give you a thorough understanding of the specific type of debt you’re in and which relief strategies you should focus on. Answering the question of what is debt? and what type of debt am I in? will set a firm foundation for your road to a debt free life.
Chapter 2: Common Reasons People Fall into Debt
Now it’s time to learn why people fall into debt in the first place. This chapter outlines several of the most common reasons for this. No matter the type of debt you’re in, knowing why debt occurs is essential to preventing it from occurring.
Chapter 3: How Credit Cards Should Be Used
Chapter 3 of our definitive guide discusses how credit cards should be used in a perfect world. We identify appropriate uses for credit cards in which they can be used wisely and explain how they can help you achieve your financial goals. A look at when (and how) not to use your credit card is also provided.
Chapter 4: Getting, Reading, & Understanding Your Credit Report
A credit report is a key component to a financially successful life. This chapter discusses how to get your credit report (for free), how to read it, and how to understand it. It then discusses how to implement this understanding into your overall debt and credit management strategies.
Chapter 5: How Debt Affects Credit
Debt is very likely to hurt your credit score. This chapter explains when this is the case and the rare instances when debt can actually help your score. It explains how different methods of debt relief can affect your score in different ways.
Chapter 6: Debt Management
The foundation of a debt free life is great debt management. One of the most common financial mistakes people make is not having a solid debt and money management plan. This chapter looks at budgeting, saving money, debt repayment, and how to stick with all three.
Chapter 7: Credit Monitoring
Knowing what your credit score is and what affects it specifically will help you keep it healthy. Here we show you the best ways to monitor your credit score. We pay particular attention to credit monitoring services like TrustedID IDEssentials.
Chapter 8: Types of Debt Relief
There are so many different options for debt relief available that choosing the best one can be quite overwhelming. In Chapter 8 we sort through and explain debt management, debt consolidation, debt settlement, credit counseling, and bankruptcy. We also offer advice on the best strategies to use in different situations.
Chapter 9: How to Find Debt Help
An explanation of what debt relief companies bring to the table and why/when it can be better to use one than go at it yourself (DIY debt relief). Includes a look at the most reliable companies to turn to when you need help. Selecting a trustworthy and effective agency is essential to your debt relief success.
Chapter 10: Pros & Cons of Hiring a Debt Relief Company
Here we offer a continuation of our discussion on debt help. We discuss the pros and cons of hiring a debt relief company, focusing on when a debt relief company is needed and when you can probably get by on your own. We offer a list of factors to look for when you are selecting your debt relief agency.
Chapter 11: Laws, Amendments, & Acts Related to Debt
There are a number of laws, amendments, and acts that are related to debt. When you are struggling with debt and seeking debt relief, it is important to be fully aware of these. This chapter outlines these different laws and explains why they are important to you.
Chapter 12: The Dangers of Student Loans
Student loans are one of the major causes of long-term debt in the United States. Because of the severity of the problem and the sheer amount of people affected by it, they deserve a chapter of their own.
This chapter discusses the dangers of student loans, how to find the best student loans possible, and how to repay your loans in the most effective manner. It also dissects student loan forgiveness and explains several student loan management programs such as student loan debt consolidation.
Chapter 13: Special Debt Relief Options
Many people qualify for special debt relief options that make getting out of debt and living a debt free life that much easier. Among those that qualify are seniors, the disabled, and members of the military. These along with free relief options from the government are discussed in this chapter.
Chapter 14: All About Retirement
Everyone knows how important saving for retirement is but not very many people know how to do it the right way. Here we discuss retirement in detail. Saving for retirement, getting out of debt before retirement, and dealing with debt in retirement are all considered. Everything you need to know to make a successful retirement plan is included in this chapter.
Chapter 15: Common Myths Regarding Debt
There are a lot of myths about debt out there. Whether it is misinformation or a plain old tall tale, these myths can seriously harm those that are aiming for a debt free life. The most common of these myths are looked over in this chapter. Here we sort out the fact from the fiction.
Chapter 16: Required Reading for Those in Debt
Want to learn more about debt and debt relief? There is plenty of reliable information out there. In addition to this guidebook, we list and describe a handful of the very best resources. You can never learn too much about debt. These books and websites are the required reading materials for those in debt.
Chapter 17: FAQ and Glossary of Common Terms
A difficult part of living a debt free life is actually understanding the terms surrounding debt. The final chapter of this guidebook is dedicated to sorting out these terms and answering Frequently Asked Questions.
The FAQ and Glossary can be referred to throughout your reading of this guidebook or read in order as an individual chapter of its own.
Excited to learn more about debt, money, and credit management? Then continue on to our first installment Chapter 1: What is Debt? for an exhaustive description of the different types of debt.