About the Book
Household-debt level is very high in most countries around the world. In the USA, household-debt is over $14 trillion increasing by about $601 billion in 2019 alone. In Canada, household-debt is about 2.2 trillion. The ramifications of novel coronavirus are likely to increase these figures significantly. The objective of this book is to provides its audience with the simplest path to debt-freedom. An approach that lays out 10 simple steps towards household-debt freedom. This book has recognized and included behavioural patterns, which account for 70 to 80 percent of an effective debt management plan.
The target audience include anyone (18 to 70 years) around the world carrying household debt (student loans, car loans, credit card loans, personal loans and mortgages). It is also for student (14 to 26 years) who aspire for debt-free education. Household debt-freedom brings financial liberty, happiness, good health, generosity and enjoyment of life.
Expected learning outcomes of this book include the following:
• Understand the causes of increasing household debt
• Overcome challenges for paying off debt
• Practice the simple strategies for paying off debt
– Overcome fear
– Take inventory
– Self-control and money-control
– Saving for emergencies, education and retirement
– Pay off debt and invest
This book provides a different approach and a simpler path for getting out of debt. It is different from many other debt management books because it incorporates root causes of indebtedness and practical solutions coming from an author who spent most of his life in poverty. Someone who has paid off $90,000 of combined student loan, car loan, credit cards loans, family assistance loans in less than six years and now on track to reduce amortization period from 30 to 15 years. All the above have been achieved without consulting a financial expert. This life experience will help you too.