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Debt Diet 101: Strategies to Get Your Money Straight

Debt Diet 101: Strategies to Get Your Money Straight. Glinda Bridgforth Keynote Speaker ~ Author ~ Financial Coach. 1. 6 Financial Tips to Getting Straight.

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Debt Diet 101: Strategies to Get Your Money Straight

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  1. Debt Diet 101: Strategies to Get Your Money Straight • Glinda Bridgforth • Keynote Speaker ~ Author ~ Financial Coach 1

  2. 6 Financial Tips to Getting Straight • Create a monthly spending plan.Estimate each month’s expenses.Track and analyze expenses.Write down every cent you spend. Live within your means. • Check your self-esteem. Determine if your spending is a need or a want. • Chart your debt.Know your balance, monthly payment, interest rate. Prioritize payoff by paying the lowest balance with the highest interest rate. Don’t create new debt,including Student Loans if…..Don’t buy a luxury vehicle if…… • Create multiple streams ofincome Be open to ideas on how to use your gifts and talents to increase your income. • Create clean credit. Pay your bills on time, reduce your debt, monitor your credit report and fix errors immediately. • Change your mind. There is power in a changed mind. 2

  3. 5 Ways to Boost Credit Score • Stop debting Use cash or debit card and live within your means. • Fix errors It’s an immediate boost and 25 percent of all credit reports have errors on them. • Pay bills on time Even a 30-day late payment can hurt your credit score. • Lower interest rate This will allow more of your payment to go towards the principle balance. • Pay balances down This improves your utilization rate. Also be aware of the new behavioral scoring method. Where you use your credit card can affect your score. 3

  4. The Bridgforth Financial Approach • Holistic. We help you break through both the practical and emotional barriers to financial health. • Comprehensive. We create goals for the next 12-24 months and feasible day-to-day steps for you to reach these goals. • Supportive. We believe in empowerment and support, not  criticism or judgment. • Realistic. For a financial plan to last, we believe it needs to be based on discipline rather than deprivation. 1300 Lafayette Street, Suite 2302, Detroit, Michigan 48207Tel: (313) 566-0026 Fax: (313) 887-9546 www.glindab.com 4

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