Strengthening Families, Building Communities, Developing Minds

EAP – Managing Debt

Managing Debt

The word debt seems to have a negative connotation, and unfairly so. Debt is necessary for both individuals and corporations. However, if debt is not managed, then it becomes a problem. Participants will learn how to determine how much debt is enough. They will also learn how to avoid taking on too much debt as well as how to recover from having too much debt.

A major component would be understanding loans and interest rates as well as credit cards. Participants will learn about the difference in interest rates (amortization rate vs simple interest rate) Also, they will learn how to reduce overall payments on loans by making payments to the principal (this applies when the loan’s interest rate is calculated on a reducing balance)