Financial Management

Debt Management

Taking Control of Your Debt

Installment debt, in itself, is not a bad thing. It enables us to make major purchases that would be nearly impossible to finance up-front. The problem is, in this consumer society, we're bombarded with advertisements for literally thousands of "must-have" products. The result is that while our parents tended to pay with cash and buy only what they could afford, we have the "buy now, pay later" mentality.

Unfortunately, our massive appetite for credit may be eroding our financial security, as more of us continue to rely on borrowed money to maintain our existing lifestyles. It is at this point that we tend to lose control and begin down the path of debt disaster.

To help our members maintain better control of their debt and to assist them in stabilizing their finances, FreedomRocks provides valuable information resources on such topics as:

• Good debt vs. Bad debt
• Bad spending habits that lead to debt disaster
• How to get out of debt
• How to keep it low
• Pay off your debt or Invest?

In order to better assist our members, FreedomRocks has developed financial-assistance tools such as the Freedom Accelerator to help manage their debt.

Freedom Accelerator

• Allows you to visually document your debt profile
• Perform optimization analysis on your outstanding debt (i.e., “What if?”)
• Tracks your plan progress by month
• Can provide you e-mail reminders when your payments are due

Program Example: