Overview of How to take control of your and way to eliminate debt

1. Taking Control of Your
Cash - Eliminating Debt

2. This seminar and any accompanying material are based on available sources of public
information and is assumed to be correct as per the indicate sources. Any discussion of
Eliminating Debt is for informational purposes only. Please consult with your financial
planning consultant for your particular situation. The information presented is general in
nature and not intended to be a complete explanation of the subject matter nor a
substitute for careful personal financial plan that addresses an individuals specific
situation.
Millennium Financial Group does not engaged in rendering legal, tax or accounting
advice. Legal, tax and accounting advice applicable to your own situation should be
obtained from a qualified professional.
Securities and Advisory Services offered through Cetera Advisors LLC,
member FINRA/SIPC. Millennium Financial Group is not affiliated with Cetera Advisors
LLC.
IMPORTANT INFORMATION

3. Happiness Is… Making
Informed Financial Decisions
Although money may
not be able to buy
happiness, it is an
important part of life.
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4. Wants vs. Needs
Wants Needs
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5. We Buy Because of Emotion, Not Logic!
 From a psychological standpoint:
 We purchase an item we mistakenly believe will make us
happy.
 The item loses its value to us over time.
 We look for the next item to make us happy, and then another,
and so on.
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6. ChangingYour Perspective
Your self-worth has
nothing to do with
your net-worth.
Money does not
make the person - it
is who they are on
the inside that
defines their lives.
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7. You Shouldn’t Live in Fear of Your Finances
 Your financial dealings are serious; however, you are in control, even if it
doesn’t always feel like it.
 You can control your savings, expenses, and even your earnings; however, you
have to adopt the mindset to do so.
 As you begin to build up your feelings of self-worth and develop a positive
attitude about yourself and about money, you'll be able to function positively
and effectively.
 There is no point in waiting for your situation to improve before you tackle
your money issues.
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8. What Makes You Happy?
It’s often been said that
the best things in life are
free, and it’s true.
Unfortunately, some
people convince
themselves that they
don’t deserve happiness
and accept their
circumstances far too
easily.
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9. You Have to be Willing to
Sacrifice to Achieve Goals
There are no secrets
to success. It is the
result of preparation,
hard work, and
learning from failure.
Colin Powell
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10. Take Control of your Circumstances
 Before setting out to achieve a goal, look how others have achieved
something similar and find out how they did it.
 Find someone who's on the path you want to pursue and have a
conversation with them.
 Following a well-defined path often makes it easier to bring about change.
In doing so, you create accountability.
 You need to be able to walk before you can run, and taking small steps if
you’re contemplating significant changes can dramatically improve your
chances for success.
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11. Developing Your Plan
 Evaluating the current situation: “Initial Spending Assessment”
 Identifying “wants” and “needs”
 Discussing options and adjusting spending accordingly
 Tracking spending - Creating a Comprehensive Budget
 Establishing and implementing short- and long-term goals
 Reviewing and modifying your plan when necessary
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12. Building an Emergency Fund
Plan for life’s unexpected
emergencies by setting up
an Emergency Savings
fund.
Set aside at least 3-6
months worth of expenses
to help cope with life's
emergencies.
Emergencies can happen
to anyone, anytime!
Seek conservative savings
vehicles that keep pace
with inflation.
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13. Become a “Financial Guru”
There are thousands of
not-for-profit agencies
that offer the public free
financial analysis.
Speaking with a certified
credit counselor will help
you establish an initial
game plan, as well as
identify the information
you need to know for
your financial situation.
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14. Credit Card Debt
One of the biggest
problems credit
counselors see regularly
is uncomfortably high
credit card debt, which
can really devastate a
family’s budget.
$24,000
$34,000
18% Interest 29.99% Interest
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$14,000 Credit Card Balance
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15. Getting Out of Debt
 Debt Snowball Method
 Modified Snowball Method
 Credit Counseling
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16. Life on a Debt Management Program
Bills which can be included in a Debt Management Program include Credit Cards,
Personal Loans (unsecured), Personal loans secured by household items, Past-due
balances on telephone bills, cellular phone bills, electric bills, etc., Collection Accounts,
Lines of Credit, Disconnected Utilities, Medical Bills, and Repossessions (unpaid
remaining balances).
Debt Management Program participants typically enjoy:
 One Convenient Monthly Payment
 Lower Monthly Payments
 Reduced Interest Rates
 Elimination of Late and/or Over Limit Fees
 Ongoing Education
 Access to Nationally Certified Credit Counselors
 Full Support of Our Customer Care Associates
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17. Thank you for your time!
Please complete your program
evaluation.
We are happy to answer any questions you
may have now or in the future!