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Debt Diet 101: Debt Diet 101: Strategies to Get Your Money Strategies to Get Your Money

StraightStraight

Glinda BridgforthGlinda Bridgforth

Keynote Speaker ~ Author ~ Financial CoachKeynote Speaker ~ Author ~ Financial Coach

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6 Financial Tips to Getting Straight1. Create a monthly spending plan. Estimate each month’s

expenses. Track and analyze expenses. Write down every cent you spend. Live within your means.

2. Check your self-esteem. Determine if your spending is a need or a

want.

3. Chart your debt. Know your balance, monthly payment, interest rate. Prioritize payoff by paying the lowest balance with the highest interest rate. Don’t create new debt, including Student Loans if….. Don’t buy a luxury vehicle if……

4. Create multiple streams of income Be open to ideas on how to

use your gifts and talents to increase your income.

5. Create clean credit. Pay your bills on time, reduce your debt, monitor your credit report and fix errors immediately.

6. Change your mind. There is power in a changed mind.

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5 Ways to Boost Credit Score

1. Stop debting Use cash or debit card and live within your means.

2. Fix errors It’s an immediate boost and 25 percent of all credit reports have errors on

them.

3. Pay bills on time Even a 30-day late payment can hurt your credit score.

4. Lower interest rate This will allow more of your payment to go towards

the principle balance.

5. Pay balances down This improves your utilization rate. Also be aware of

the new behavioral scoring method. Where you use your credit card can affect your score.

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The Bridgforth Financial Approach

• Holistic. We help you break through both the practical and emotional barriers to financial health.

• Comprehensive. We create goals for the next 12-24 months and feasible day-to-day steps for you to reach these goals.

• Supportive. We believe in empowerment and support, not  criticism or judgment.

4. Realistic. For a financial plan to last, we believe it needs to be based on discipline rather than deprivation.

1300 Lafayette Street, Suite 2302, Detroit, Michigan 48207Tel: (313) 566-0026 Fax: (313) 887-9546

www.glindab.com