Being in debt can be stressful, but we are here to help. This webinar aims to empower participants to take charge of their situation for a brighter future. For successful debt management, the first step is recognizing the symptoms of being in debt and what commitments one can make to reach a financially secure future. This webinar will cover budgeting and debt repayment strategies, other options one can take to get rid of debt and navigating student loan debt specifically.
Host: Allie Smith, Assistant Director of Financial Counseling, Sokolov-Miller Family Financial and Life Skills Center.
This webinar was recorded on November 5th, 2024.
The links referenced in the video are listed below:
Our website: financialliteracy.psu.edu/
Fall 2024 webinar schedule: financialliteracy.psu.edu/events
Read the full Forbes article here: www.forbes.com/advisor/banking/american-debt-and-the-mental-health-epidemic/
Recorded budgeting webinar: th-cam.com/video/EJxdFy6xrWk/w-d-xo.htmlsi=3pYcUulah232IMUY
Our budget sheet template is the second link under the “Worksheets” heading here: financialliteracy.psu.edu/resources
Pull a free credit report at: www.annualcreditreport.com/index.action
Here’s a video with some tips on how to negotiate with your creditors: bettermoneyhabits.bankofamerica.com/en/debt/debt-negotiation-tips?cm_mmc=EBZ-FinancialEducation-_-Module-Ad-_-EF16LT00F8_BMH_R1/R2-Essentials-_-Retail-Quarterly-EM&cm_mmc=OLB-ServiceAction-_-email-_-OU24EM01GB_watch_now_SSCC_0615-_-06320_ret_essential_SSCC
Here’s more information on Debt Management Plans: www.experian.com/blogs/ask-experian/credit-education/debt-management-plan-is-it-right-for-you/
Specific information on each income-driven repayment plan - studentaid.gov/manage-loans/repayment/plans/income-driven
SAVE Plan Court Actions: studentaid.gov/announcements-events/save-court-actions
Our budget template is the first link under the “Worksheets” list: financialliteracy.psu.edu/resources
Get You Need a Budget (YNAB) free for a year with your PSU email- www.ynab.com/college/
Debt Snowball Avalanche Video: Video link: th-cam.com/video/O3FRc9USz8g/w-d-xo.htmlsi=M4r9yjylTRvx0s_P&t=29
Our services are available on our website: financialliteracy.psu.edu/
Link to schedule a 1:1 financial coaching appointment in Starfish: psu.starfishsolutions.com/starfish-ops/dl/instructor/serviceCatalog.html?bookmark=service/213200/schedule
Alumni, faculty and staff can email us at finlit@psu.edu to get connected with a financial coach. Financial & Life Skills Center staff meet with alumni directly and refer faculty & staff to our partners at PNC
Debt management self study module:
psu.instructure.com/courses/1806581/pages/introduction-what-is-debt-management
Fall 2024 webinar schedule: financialliteracy.psu.edu/events