Cover image for Living debt-free : the no-shame, no-blame guide to getting rid of your debt / Shannon Lee Simmons, founder of The New School of Finance.
Title:
Living debt-free : the no-shame, no-blame guide to getting rid of your debt / Shannon Lee Simmons, founder of The New School of Finance.
ISBN:
9781443457590
Edition:
First edition.
Publication Information:
Toronto : Collins, [2018]

©2018
Physical Description:
322 pages : charts ; 23 cm
Abstract:
Shannon Lee Simmons knows that your only way out of the debt cycle is to truly understand all of your spending triggers so you can shut them down for good. Simmons focuses on creating a debt repayment plan that will motivate you for a long time, rather than an unrealistic one that's strictly about paying the least amount of interest charges. Simmons will help you build your plan - the one that will help you finally put the debt behind you, start fresh and feel good about your money again.
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Summary

Summary

Get rid of your debt without giving up your life

No one wants to be in debt. But life happens and if you've got debt, life has happened to you. Whether you have a rolling balance of $2,000 on your credit card or an $80,000 line of credit you are positive you will carry to your grave, debt can be a huge cause of stress--affecting both your emotional and financial wellness.

After working with thousands of financial planning clients, Shannon Lee Simmons knows that your only way out of the debt cycle is to truly understand all of your spending triggers so you can shut them down for good. In Living Debt-Free, she shows you that it is possible to have a life and pay down debt at the same time. In fact, that's the only way your debt plan will work. You will learn to take control of your finances and pay down your debt in a realistic way that will keep you motivated long enough to see it through to the end. No shame. No blame. No scare tactics.

In Living Debt-Free, Simmons focuses on creating a debt repayment plan that will motivate you for a long time, rather than an unrealistic one that's strictly about paying the least amount of interest charges. (Collective gasp--how dare she!?) Listen, everyone knows that paying interest on debt is bad and to be avoided as much as possible, but human beings are complex. Life is complex. Debt is complex. There cannot be a one-size-fits-all plan, so Living Debt-Free will help you build your plan--the one that will help you finally put the debt behind you, start fresh and feel good about your money again.


Table of Contents

Introduction: Life Happens-and Sometimes Debt Does Toop. 1
Part 1 Stop the Debt Loopp. 15
Chapter 1 Recognizing the Debt Loopp. 17
Chapter 2 Reframing Your Debt; Beat the Shame-and-Blame Mentalityp. 24
Chapter 3 Identifying Your Financial Tripwiresp. 36
Chapter 4 Getting Motivatedp. 53
Part 2 Your Debt Game Planp. 69
Chapter 5 Map That Debtp. 70
Chapter 6 Your Magic Amount: How Much to Put Towards Debtp. 80
Chapter 7 Being Realistic about Spendingp. 103
Chapter 8 Debt Stacking; The Fastest Way to Pay Down Debtp. 126
Chapter 9 Strategic Spending: How to Pay for Life When You Have Debtp. 133
Part 3 Debt-Slammersp. 151
Chapter 10 Debt-Slammer #1: Lower the Rate and Consolidatep. 154
Chapter 11 Debt-Slammer #2: Lump Sumsp. 173
Part 4 Paying Down Debt When Real Life Happensp. 197
Chapter 12 The Emotional Cost of Debtp. 198
Chapter 13 Free Up Money Fastp. 221
Chapter 14 How to Navigate Love and Moneyp. 244
Chapter 15 Big Levers: Downsizing, Credit Counselling, Consumer Proposals and Bankruptcyp. 267
Conclusion: Trust Yourself-You're Not "Bad with Money"p. 293
Resource Libraryp. 300
Additional Readingp. 311
Acknowledgementsp. 313
Indexp. 315