Linda Stroman: Hi, 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 their 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 on expense that has occurred by individuals. Basically, when we want to have a product or service to a creditor and it is an agreement that we make with them to pay for this product or service. And debt comes in different forms. We have high debt, low debt, long-term debt, short-term debt.
And 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 cards.
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