{"id":10147,"date":"2024-08-15T10:14:58","date_gmt":"2024-08-15T14:14:58","guid":{"rendered":"http:\/\/learn.realsecretsofmoney.com\/?page_id=10147"},"modified":"2025-01-14T14:14:56","modified_gmt":"2025-01-14T19:14:56","slug":"debt","status":"publish","type":"page","link":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/learn\/debt\/","title":{"rendered":"Debt"},"content":{"rendered":"

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\"\"Manage Debt<\/strong><\/span><\/h1>\n

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Debt can feel overwhelming, but it doesn\u2019t have to be permanent. The resources here can guide you through managing and reducing your debt, setting you on a path toward financial freedom.<\/span><\/h4>\n

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\n\t\t\t\tAssess Your Debt<\/span> Risk<\/span>\t\t\t<\/h2>\n\t\t\t\t\t<\/div>\n<\/div>[vc_column_text css=”.vc_custom_1727795222537{margin-right: 15% !important;margin-left: 15% !important;}”]<\/p>\n

Follow the steps below.<\/span><\/p>\n

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Step 1<\/strong> – Start by totaling your debt payments each month.<\/span><\/h4>\n

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  • Mortgage or rent payments<\/span><\/li>\n
  • Credit cards<\/span><\/li>\n
  • Installment debt<\/span><\/li>\n
  • Car loans<\/span><\/li>\n
  • Student loans<\/span><\/li>\n
  • Consumer line of credit<\/span><\/li>\n
  • Other payments that show on your credit report<\/span><\/li>\n<\/ul>\n

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    \n\tDon't Include:<\/span>\n \n\t\t<\/span>\n\t\t<\/span>\n\t<\/span>\n<\/h4>\n
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    • Groceries<\/span><\/li>\n
    • Utility bills<\/span><\/li>\n
    • Cell phone payments<\/span><\/li>\n
    • Entertainment<\/span><\/li>\n
    • Hobbies<\/span><\/li>\n
    • Child support or alimony payments<\/span><\/li>\n
    • Other variable, non-survival expenses<\/span><\/li>\n<\/ul>\n

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      Step 2<\/strong> – Divide your monthly debt expenses by your gross income.<\/span><\/h4>\n

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      Is the total 36% or less <\/strong>of your gross income?<\/strong><\/span><\/h3>\n

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      If so, you are probably safe, although you can make financial improvements by driving down what debt you have.<\/span><\/p>\n

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      A good target to aim for is 25%.<\/span><\/h3>\n

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      However, if you are spending more than 36% of your monthly gross income in debt payments, you may be at risk of financial trouble.<\/span><\/p>\n

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      Worried About the Risk of Debt?<\/strong><\/span><\/h2>\n

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      You may be at risk of financial trouble.\u00a0 Make a plan to reduce your debts as quickly as possible.<\/span><\/h4>\n

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      \n\t\t\t\tWant to Learn More?<\/span>\t\t\t<\/h2>\n\t\t\t\t\t<\/div>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″ css=”.vc_custom_1729787299265{padding-top: 200px !important;background-image: url(http:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-content\/uploads\/2024\/08\/CTA-Worksheet.png?id=10291) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: contain !important;}” offset=”vc_hidden-xs”][vc_btn title=”Download” shape=”round” color=”primary” size=”lg” align=”center” css_animation=”fadeIn” css=”.vc_custom_1736868242210{margin-top: -20px !important;padding-bottom: 50px !important;padding-left: 100px !important;}” link=”url:https%3A%2F%2Flearn.realsecretsofmoney.com%2FFFSBB%2Fdownloads-2%2F|title:Classes”][\/vc_column][vc_column width=”1\/2″ css=”.vc_custom_1733408976358{padding-top: 200px !important;background-image: url(http:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-content\/uploads\/2024\/12\/CTA_Debt_AdvocateVersion.png?id=12137) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: contain !important;}” offset=”vc_hidden-xs”][vc_btn title=”Contact Me” shape=”round” color=”primary” size=”lg” align=”center” css_animation=”fadeIn” css=”.vc_custom_1736868753081{margin-top: -20px !important;padding-bottom: 50px !important;padding-left: 100px !important;}” link=”url:%23|title:Couses” el_class=”popmake-11421″][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1736880977186{margin-top: -75px !important;margin-bottom: -75px !important;}”][vc_column width=”1\/2″ css=”.vc_custom_1736880858369{padding-top: 100px !important;background-image: url(http:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-content\/uploads\/2024\/08\/CTA-Worksheet-1.png?id=10400) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: contain !important;}” offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm”][vc_btn title=”Download” shape=”round” color=”primary” align=”center” css_animation=”fadeIn” css=”.vc_custom_1736882087885{margin-bottom: 50px !important;padding-top: 100px !important;padding-bottom: 50px !important;padding-left: 100px !important;}” link=”url:https%3A%2F%2Flearn.realsecretsofmoney.com%2FFFSBB%2Fdownloads-2%2F|title:Classes”][\/vc_column][vc_column width=”1\/2″ css=”.vc_custom_1736880867746{padding-top: 100px !important;background-image: url(http:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-content\/uploads\/2024\/12\/CTA_Insurance_AdvocateVersion.png?id=12135) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: contain !important;}” offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm”][vc_btn title=”Contact Me” shape=”round” color=”primary” align=”center” css_animation=”fadeIn” css=”.vc_custom_1736881242481{margin-bottom: 50px !important;padding-top: 100px !important;padding-bottom: 50px !important;padding-left: 100px !important;}” link=”title:Couses” el_class=”popmake-11421″][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1729615220767{margin-top: 35px !important;}”][vc_column css=”.vc_custom_1727959338359{margin-top: 50px !important;}”][vc_single_image image=”10131″ img_size=”full” css=””][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

      [vc_row css=”.vc_custom_1729712738496{margin-bottom: 50px !important;}”][vc_column width=”1\/2″][\/vc_column][vc_column width=”1\/2″][\/vc_column][\/vc_row][vc_row][vc_column css=”.vc_custom_1723733011842{margin-top: 25px !important;}”][vc_column_text css=”.vc_custom_1727795222537{margin-right: 15% !important;margin-left: 15% !important;}”] Follow the steps below. [\/vc_column_text][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1729615056563{margin-bottom: 35px !important;}”][vc_column width=”1\/4″ css=”.vc_custom_1726066521005{margin-top: 50px !important;margin-left: 0px !important;}”][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1725637237735{margin-bottom: 25px !important;}”] Step 1 – Start by totaling your debt […]<\/p>\n","protected":false},"author":56,"featured_media":0,"parent":9820,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"full-width.php","meta":{"footnotes":""},"class_list":["post-10147","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/pages\/10147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/comments?post=10147"}],"version-history":[{"count":99,"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/pages\/10147\/revisions"}],"predecessor-version":[{"id":12256,"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/pages\/10147\/revisions\/12256"}],"up":[{"embeddable":true,"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/pages\/9820"}],"wp:attachment":[{"href":"https:\/\/learn.realsecretsofmoney.com\/FFSBB\/wp-json\/wp\/v2\/media?parent=10147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}