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Debt Management

Racking up debt is easy but paying back is hard. ‘Debt planning’ uses financial planning and budgeting to reduce debt. A debt management plan aims to use these tools to help you reduce and eventually eliminate your debt. In this course, we explain the relevant banking policies and laws to help you restructure your liability. […]

Instructor GMN Academy Team
Updated January 10, 2024

About Course

Racking up debt is easy but paying back is hard. ‘Debt planning’ uses financial planning and budgeting to reduce debt. A debt management plan aims to use these tools to help you reduce and eventually eliminate your debt. In this course, we explain the relevant banking policies and laws to help you restructure your liability. Sign up for this personal finance course to draw up a debt management plan and find the light at the end of your economic tunnel.

Description:
This course explains how to reduce debt using financial planning and budgeting. We define basic financial terms like ‘credit’ and ‘debt’ and identify their various types. We lay out the pros and cons of debt management and establish its role in taking control of your personal finances. The course then compares long-term and short-term debt and shows you how to assess your financial situation.

A debt management plan will help you to pay off your debts in a planned and secure way. We explain what a debt management plan is, how it works and how to enrol. We then go through its process step by step. To understand how much debt you are in, you have to learn some terms and calculations to avoid further damage and employ the right methods to reduce your debt. We demonstrate how to assess your debts and provide some strategies to reduce them. The course then moves on to the process of debt financing.

Budgeting is an essential money management tool used to escape debt. We break down the process of creating a monthly budget for your household. We also show you how to differentiate between ‘good’ and ‘bad’ debt before discussing debt collectors, debt counselling and the role of bankruptcy and insolvency. Our final section discusses laws and regulations related to debt. Good financial planning can save you money and stress so sign up for this personal finance course to learn how to manage and get out of debt

 

Certificate
All GMN courses are easy to enrol, study, and complete. To successfully complete this Diploma course and become a GMN Academy Graduate, you need to achieve 75% or higher in each course assessment. Once you have completed this Diploma course, you have the option to acquire an official Diploma which is a great way to share your achievement with the world.

Your GMN Academy Diploma is/can:
Ideal for sharing with potential employers.
Be included in your CV, professional social media profiles and job applications.
An indication of your commitment to continuously learn, upskill & achieve high results.
An incentive for you to continue empowering yourself through lifelong learning.

GMN Academy offers 3 types of Diplomas for completed Diploma courses:
Digital Certificate: a downloadable Certificate in PDF format immediately available to you when you complete your purchase.

Certificate: a physical version of your officially branded and security-marked Certificate, posted to you at a shipping cost.

Framed Certificate: a physical version of your officially branded and security marked Certificate in a stylish frame, posted to you at a shipping cost.

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What Will You Learn?

  • Finance,
  • Personal Finance,
  • Budgeting,
  • Debt
  • Explain the role of debt planning
  • Compare different types of debts
  • Outline how to assess your financial situation
  • Recognize the benefits of a debt management strategy
  • State the procedures for creating a monthly budget
  • Identify the advantages and disadvantages of debt counselling
  • Define ‘good’ and ‘bad’ debt
  • Describe the process of getting out of debt
  • Outline the concepts of bankruptcy and insolvency

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