What is debt?

What is debt?

What are examples of good debt vs. bad debt?

What are examples of good debt vs. bad debt?

What are the two types of debt?

What are the two types of debt?

How do I evaluate my personal debt?

How do I evaluate my personal debt?

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Why are interest rates so important?

Can I negotiate my debts with my creditors on my own?

Can I negotiate my debts with my creditors on my own?

How should I prioritize my debt elimination process?

How should I prioritize my debt elimination process?

What is a debt management plan?

What is a debt management plan?

Why should I establish an emergency fund?

Why should I establish an emergency fund?

Should savings be a part of my budget?

Should savings be a part of my budget?

Is it best to save or payoff debt first?

Is it best to save or payoff debt first?

Why is savings so important for debt management?

Why is savings so important for debt management?

How do I evaluate my personal debt?

How do I evaluate my personal debt?

What are the two types of debt?

What are the two types of debt?

What are examples of good debt vs. bad debt?

What are examples of good debt vs. bad debt?

What is debt?

What is debt?

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Linda Stroman

Financial Education Coordinator, Capital Area Asset Builders

www.caab.org  

202-419-1440

Linda Stroman is the Financial Education Coordinator at CAAB. She provides instruction and one-on-one counseling to groups and individuals on money management and credit education. In addition, she coordinates program seminars and other events regarding CAAB's financial programs. Before joining CAAB, Linda worked for The Training Source, Inc. She provided life, professional, financial, and technical training to Maryland and DC residents and organizations.

What is debt?

Financial Expert Linda Stroman explains what debt is and how to get out of debt.

This video: 9,878 views
This expert: 87,608 views

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""L$:hVEqg0L|@"&>RLDHi, my name is Linda Stroman and I work for Capital Area Asset Builders. I am a financial education coordinator and what that means is basically, I help individuals in the District of Columbia in the Tri - State area with getting out of debt or increase in the credit, scores and things on those minds. For this video, we are going to talk about how to get out of debt, what is debt and some of the ways that we can save money in order to make that happen.

Host: What is Debt?

Linda Stroman: Debt is based an expense that has occurred by individuals. Basically, when we want to have a periodical service to a creditor and it is an agreement that we make with them to pay for this periodical service and debt comes in different forms. We have high debt, low debt, long-term debt, short-term debt. Basically, everyone in America has some types of debt load. The whole idea was to make sure that we do not have excessive debt and that we can try to pay as much with cash as we can do versus credit card. GHNP'=>BFa''()*29AC-.

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