1www.pamelavcarmichael.com Defeat Debt 3 Areas You Can Conquer

2www.pamelavcarmichael.com Introduction About Pamela  A financial services professional over 15 years  Christian desiring to change lives financially, spiritually and in other areas  Author of award winning title – Financial Empowerment: Realign Your Finances to God’s Will  Certified Professional Coach  Success Principles Certified Coach  Visit blog at

3www.pamelavcarmichael.com What to Expect in this Video Series  Debt is a big problem but you need to deal with it. In this video series I will discuss three (3) areas or aspects of debt and how you can overcome them. Debt can and does effect every aspect of your life:  Physical – Financial  Intellectual & Emotional  Spiritual

4www.pamelavcarmichael.com Financial Empowerment Coach  2 Sam 22  Men were described as in Debt, Distresses and Discontented  These men decided to follow David even though he too had challenges of his own  They recognized the gift in him to lead them to success  Consider me as your Financial Empowerment Coach or Guide whom God will use to help you get out of debt  Take this opportunity to learn from this series  Apply at least one thing from each video

5www.pamelavcarmichael.com Defeat Debt How to Reduce the Physical Load

6www.pamelavcarmichael.com What is the Physical Debt Load?  The actual financial effect that debt has on the money you have or that you do not have  The total amount owed  The interest payments  The effect of these two on your net worth and your cash flow  The effect they have on your personal, business, career development  Also not to mention the impact on your body (health) as a result of the emotional trappings of debt ( Another area to be discussed in the next video )  The bottom line is that the physical load of debt has a NEGATIVE impact on your finances!

7www.pamelavcarmichael.com What does the Physical Debt Load look like?  The inability to repay on time  The inability to pay the minimum required amount or above it  The inability to pay at all after all you other obligations have been meant  The inability to embrace investment opportunities that are presented to you  The refusal by other lenders to invest in you or any idea that you present to them even though it may be profitable

8www.pamelavcarmichael.com What does the Physical Debt Load look like?  The lost of control over your livelihood. Debt has caused some people to live on the streets or to be imprisoned.  The reduction of your spending power and giving ability  More time and effort working to pay off debt that doesn’t seem to dwindle  Keeping the job you don’t like because it pays the bills  Limited funds result in limited progress in life – education, business or social standing is impacted because you cannot afford the cost

9www.pamelavcarmichael.com Let’s Talk Solutions How to Reduce the Physical Load

10www.pamelavcarmichael.com Make A Decision The key to lasting change begins with  Desire  Decision “Whatever the mind conceive and believe the mind can achieve.” - Napoleon Hill

11www.pamelavcarmichael.com Set A Debt Free Goal Set a goal that is …  Tangible  Manageable For example: “I will pay off the $10,000 student loan by 31 December, 2016.”

12www.pamelavcarmichael.com How Manageable is Your Goal?  Determine the amounts  What impact will the amount have on your cash flow (+ve or –ve)  Do you have extra cash that can help  Make adjustments needed to make the goal work

13www.pamelavcarmichael.com Follow thru… Make the payments  Yes, make the payments  You make need to make some lifestyle changes  Cut back on TV, internet cost  Stop dining out so much  Plan and prepare meals  Limit or don’t use credit Funnel cost savings into debt reduction

14www.pamelavcarmichael.com Two other things to consider… 1.Avoid the temptation to skip a payment to do “something important” with it the money 2.Automate the debt repayments

15www.pamelavcarmichael.com Take Action To recap…  Make a decision  Set a debt-free goal  Work towards it

16 What’s Next?  Part of learning is doing so here’s some next steps you can take….  Share your goal with me in the Comments below what your debt free goal is  Share again – this video with family and friends you know would benefit  One more thing PRAY – ask God for the grace to discipline yourself to work towards your debt free goal and be a better financial steward

17www.pamelavcarmichael.com Defeat Debt: 3 Areas You Can Conquer Next Video… Defeat Debt: Get Rid of Emotional Debt