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Defeat Debt

3 Areas You Can Conquer

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Introduction

About Pamela A financial services professional

over 15 years Christian desiring to change lives

financially, spiritually and in other areas

Author of award winning title – Financial Empowerment: Realign Your Finances to God’s Will

Certified Professional Coach Success Principles Certified Coach Visit blog at

http://www.pamelavcarmichael.com

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What to Expect in this Video Series

Debt is a big problem but you need to deal with it. In this video series I will discuss three (3) areas or aspects of debt and how you can overcome them. Debt can and does effect every aspect of your life: Physical – Financial Intellectual & Emotional Spiritual

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Financial Empowerment Coach

2 Sam 22 Men were described as in Debt, Distresses and Discontented These men decided to follow David even though he too had

challenges of his own They recognized the gift in him to lead them to success Consider me as your Financial Empowerment Coach or Guide

whom God will use to help you get out of debt Take this opportunity to learn from this series Apply at least one thing from each video

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Defeat Debt

How to Reduce the Physical Load

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What is the Physical Debt Load?

The actual financial effect that debt has on the money you have or that you do not have The total amount owed The interest payments The effect of these two on your net worth and your cash flow The effect they have on your personal, business, career development Also not to mention the impact on your body (health) as a result of the emotional trappings

of debt (Another area to be discussed in the next video)

The bottom line is that the physical load of debt has a NEGATIVE impact on your finances!

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What does the Physical Debt Load look like? The inability to repay on time The inability to pay the minimum required amount or above it The inability to pay at all after all you other obligations have been meant The inability to embrace investment opportunities that are presented to

you The refusal by other lenders to invest in you or any idea that you present

to them even though it may be profitable

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What does the Physical Debt Load look like? The lost of control over your livelihood. Debt has caused some people to

live on the streets or to be imprisoned. The reduction of your spending power and giving ability More time and effort working to pay off debt that doesn’t seem to

dwindle Keeping the job you don’t like because it pays the bills Limited funds result in limited progress in life – education, business or

social standing is impacted because you cannot afford the cost

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Let’s Talk Solutions

How to Reduce the Physical Load

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Make A Decision

The key to lasting change begins with

Desire Decision

“Whatever the mindconceive and believe themind can achieve.”

- Napoleon Hill

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Set A Debt Free Goal

Set a goal that is …

Tangible Manageable

For example:“I will pay off the $10,000 student

loan by 31 December, 2016.”

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How Manageable is Your Goal?

Determine the amounts What impact will the

amount have on your cash flow (+ve or –ve)

Do you have extra cash that can help

Make adjustments needed to make the goal work

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Follow thru… Make the payments

Yes, make the payments You make need to makesome lifestyle changes

Cut back on TV, internet cost

Stop dining out so much Plan and prepare meals Limit or don’t use credit

Funnel cost savings into debt reduction

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Two other things to consider…

1. Avoid the temptation to skip a payment to do “something important” with it the money

2. Automate the debt repayments

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Take Action

To recap… Make a decision Set a debt-free goal Work towards it

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What’s Next? Part of learning is doing so here’s some next steps

you can take…. Share your goal with me in the Comments below what

your debt free goal is Share again – this video with family and friends you know

would benefit One more thing PRAY – ask God for the grace to

discipline yourself to work towards your debt free goal and be a better financial steward

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Defeat Debt: 3 Areas You Can Conquer

Next Video…Defeat Debt: Get Rid of Emotional Debt