This is the first book of the "Alpha Kappa Omega" series of books drawn from the title "Building Wealth and Eliminating Debt" and subtitled "Alpha: Chapters 1-5"(The Psychology of Debt).
In order to conquer debt it is "critical" that you understand some of the root causes of heavy debt and it is not as simple as spending beyond your means, it is much more complicated than that.
In most cases it is "psychological". The desire to "want and have" dwells within our human nature and you have to recognize the code in order to control it or be relegated to the catacombs of debt for the duration of your lifetime.
The book speaks to some of the reasons why we get into a debt spiral, the part that the financial institutions play keeping us in debt and the opportunity cost of staying in debt. The Chapters;
1. Debt Comes From the Lack of Wisdom
2. The Evil Side of Debt
3. The Power of Compounding Made Simple
4. The Importance of Your Credit Score
5. The Cost of Opportunity Loss
provides you with an enlightened frame of mind and enhanced clarity of the psychology behind debt and will help strengthened your confidence that "doable" financial solutions are right at your fingertips some of which are covered in the Kappa phase of the book series "Mastering your Finances". If you can comprehend the psychology of debt you can win two-thirds of the war on debt and all you need is a plan and the understanding of how to execute it.
Segmenting the "Mother" book into a mini-series allows the reader the option to mix and match and purchase the content that is most germane to their circumstances or those of their family or friends.
The original title is a financial literacy manual that can guide your prosperity strategy for years to come. It is not the typical Debt/Wealth manual it is comprehensive and "Value Packed". The book delivers a holistic approach to debt and wealth management. It segments financial literacy into three areas; "The Psychology of Debt", "Mastering your Finances" and “Preserving your Wealth". It is loaded with several powerful strategies and tactics designed to help you avoid debt overload and build wealth. It will be the personal financial management resource that you can reference over and over again. The book contains a sweeping array of educational concepts and information on the subject of financial literacy (The new 2010 Credit Card Rules, Opportunity Cost, The Rule of 72, A comprehensive review of how the Mortgage Loan Process works, Valuable information on where to get government help on repaying Student Loans, The Advantages of a Chapter 13 Bankruptcy and much more).
Every chapter is packed with helpful information, from interpreting and correcting your credit report to improve your credit score, to providing advice on understanding and getting in front of the home foreclosure process, advice on avoiding over 20 plus money scams that can derail your wealth strategy to providing debt elimination and wealth building plans that can be tailored and modified to fit your individual circumstances. The chapters on identity theft prevention and resolution and avoiding foreclosure rescue scams are invaluable. There is a chapter on how to prevent and control youth debt that is filled with a wealth of information that will serve young consumers for a lifetime.
The information on health wealth and the impact that heavy debt can have on your health is an eye opener. The chapter on how to stay motivated on your journey to financial freedom by using the strategies and tactics provided will help you stay on course to accomplish your financial goal. The "Debt Buddy System" and the "Motivation Button" are two such strategies.
