Welcome!Welcome!

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IntroductionsIntroductions

Gerri DetweilerGerri Detweiler - Consumer credit expert

Dedicated consumer advocate ensuring that credit practices better serve, inform and protect consumers

1,500 interviews including CNN, The New York Times, Dateline, Readers Digest and the Today Show

Testified before Congress

Daniel MasseyDaniel Massey – Director, Product Management

Extensive knowledge of credit and banking industries Developed and managed cutting edge web-based financial products Managed enterprise support centers for top-tier financial institutions

Session 2Session 2

You Can Get Out of Debt!You Can Get Out of Debt!

How Do You Use Debt? Why You Should Reduce Debt Steps to Reduce Debt Make Smarter Decisions Additional Resources

How Do You Use Debt?How Do You Use Debt?

Two Sides – Same CoinTwo Sides – Same Coin

Used Wisely – An Effective Tool• Access to money not normally available• Improves quality of life

Used Unwisely – An Endless Burden• Limits monthly available cash• Negatively impacts credit • Increases credit dependency• Prevents saving for retirement

Why Reduce Debt?Why Reduce Debt?

An Average Credit Card Scenario:

$9,250 revolving credit card balance 12.75% interest rate 2% monthly minimum payment

Reason #1: Minimize InterestReason #1: Minimize Interest

What You Are Not ToldWhat You Are Not Told

The Real ImpactThe Real Impact

You charge $9,250. You pay $19,383.80.• 32 years to pay off• $185.00 paid in first month• $100 Interest / $85 Principal

27 years before principal exceeds the interest

Importance of CreditImportance of Credit

Reason #2: Builds Better CreditReason #2: Builds Better Credit

Reducing your debt can positively increase credit worthiness

Improved credit translates to decreased interest, insurance, and utility deposits

The more you reduce debt, the more money is freed to further reduce debt – and your credit improves.

Build WealthBuild Wealth

Reason #3: Save for FutureReason #3: Save for Future

Invest in your retirement• $100 month• 30 years • 8% rate of return• $146,815.04 (only $36,000 you put in)

Steps to Cutting DebtSteps to Cutting Debt

Create and Follow a Plan Create and Follow a Plan

Pay highest rate unsecured debt first Commit to a fixed repayment amount Keep your eye on the prize!

Take ActionTake Action

Accelerate ResultsAccelerate Results

Negotiate with current issuers Transfer balances Shop for better deals if needed Add extra $ Get outside help if needed

Taking ActionTaking Action

Negotiate interest rate to 10% • Saves $3,715.00

Transfer balance to card with rate of 6.5% • Saves $6,779.00

Add extra $10/month • Saves you $6,427.00• Paid of 5 years / 7 months faster

Results Speak for ThemselvesResults Speak for Themselves

Other OptionsOther Options

Consolidate With…Consolidate With…

Personal Loan Home Equity Retirement Plan $ Credit Counseling Agency

EverydayWealthEverydayWealth

The Wealth Planning SystemThe Wealth Planning System

Provides a path to eliminating debtAdjusts to your spendingRecommends actionsTracks your resultsForecasts scenarios

See the ResultsSee the Results

Follow Your PlanFollow Your Plan

Monitor Your ProgressMonitor Your Progress

Make Informed DecisionsMake Informed Decisions

Guidance & SupportGuidance & Support

Knowledge CenterKnowledge Center

Debt consolidation Choosing the right mortgage EverydayWealth Radio Archives Member Benefits CommonCents University

Questions?

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EverydayWealth SystemEverydayWealth System

You can do it.You can do it.

Start today! Follow the plan Watch for traps Get help, if needed.

EverydayWealthEverydayWealth

Thank You!Thank You!