Be debt-free – how to manage and reduce debt
Engage with local nonprofit credit counselors, cooperative extension instructors or other experts in your community to lead one or a series of programs to help people understand options and strategies for paying off their debt. There are a number of resources dedicated to budgeting, credit management and debt repayment, including the webinars and materials listed below.
A program should include a discussion of where patrons are now in their financial lives with exercises and worksheets to help them take a financial inventory. Then, turn to a discussion of budgeting and tracking spending as a way to examine present habits and identify priorities. Finally, turn to repaying the debts themselves. Discuss options, and let patrons make their own choices. One option is to tackle the debt with the highest interest rate first. A second is to tackle the debt with the lowest balance first. You can learn more about both options in this webinar.
- Housing counselors approved by the U.S. Department of Housing and Urban Development (many also do credit counseling, too)
- Justice Department Approved Credit Counseling Agencies
- National Foundation for Credit Counseling member
- Cooperative Extension Service instructor
- Financial planners registered with the Certified Financial Planner Board of Standards, Inc., or the Financial Planners Association
- Dealing with debt webinar for librarians
- Spring Cleaning Your Debt
- Get Out of Debt