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Introductions Gerri Detweiler Gerri Detweiler - Consumer credit expert Dedicated consumer advocate ensuring that credit practices better serve, inform and protect consumers 1,500 interviews including CNN, The New York Times, Dateline, Readers Digest and the Today Show Testified before Congress Daniel Massey Daniel Massey – Director, Product Management Extensive knowledge of credit and banking industries Developed and managed cutting edge web-based financial products Managed enterprise support centers for top-tier financial institutions

Session 2 You Can Get Out of Debt!  How Do You Use Debt? Why You Should Reduce Debt Steps to Reduce Debt Make Smarter Decisions Additional Resources

How Do You Use Debt? Two Sides – Same Coin Used Wisely – An Effective Tool Access to money not normally available Improves quality of life Used Unwisely – An Endless Burden Limits monthly available cash Negatively impacts credit Increases credit dependency Prevents saving for retirement

Why Reduce Debt? An Average Credit Card Scenario: $9,250 revolving credit card balance 12.75% interest rate 2% monthly minimum payment Reason #1: Minimize Interest 

What You Are Not Told The Real Impact  You charge $9,250. You pay $19, years to pay off $ paid in first month $100 Interest / $85 Principal 27 years before principal exceeds the interest

Importance of Credit Reason #2: Builds Better Credit  Reducing your debt can positively increase credit worthiness Improved credit translates to decreased interest, insurance, and utility deposits The more you reduce debt, the more money is freed to further reduce debt – and your credit improves.

Build Wealth Reason #3: Save for Future  Invest in your retirement $100 month 30 years 8% rate of return $146, (only $36,000 you put in)

Steps to Cutting Debt Create and Follow a Plan  Pay highest rate unsecured debt first Commit to a fixed repayment amount Keep your eye on the prize!

Take Action Accelerate Results  Negotiate with current issuers Transfer balances Shop for better deals if needed Add extra $ Get outside help if needed

Taking Action Negotiate interest rate to 10% Saves $3, Transfer balance to card with rate of 6.5% Saves $6, Add extra $10/month Saves you $6, Paid of 5 years / 7 months faster Results Speak for Themselves

Other Options Consolidate With…  Personal Loan Home Equity Retirement Plan $ Credit Counseling Agency

EverydayWealth The Wealth Planning System  Provides a path to eliminating debt Adjusts to your spending Recommends actions Tracks your results Forecasts scenarios

See the Results

Follow Your Plan

Monitor Your Progress

Make Informed Decisions

Guidance & Support Knowledge Center  Debt consolidation Choosing the right mortgage EverydayWealth Radio Archives Member Benefits CommonCents University

Questions? CardRatings Members Get Started Sign up on or before July 9 th and receive this 14 fluid oz. stainless steel mug with fitted spill-proof lid and the EverydayWealth logo in black. Visit

EverydayWealth System You can do it.  Start today! Follow the plan Watch for traps Get help, if needed.

EverydayWealth Thank You! 