Edwina G. Ruiz

More than 43% of Americans live in debt. The average American household has approximately $8,000 in consumer debt. The experts say that most people will incur debt during their lifetime. There are the few that will only have a mortgage debt and that is it. Good for them. But most people will face some sort of financial issue that revolves around mortgage debt, student debts, auto loans and credit cards.

No one ever takes out a loan or uses a credit card with the intent to become overwhelmed by debt. But that is the nature of debt. It innocently builds while you enjoy the perks. We never look at how the numbers are adding up until it is too late.

Do you know how much you’re worth financially? Do you keep track of your cash flow and if you’re living within your means? Compare what you own to what you owe -- your assets and liabilities. List down your assets: your home, cars, high value personal belongings such as collections, equipment or livestock. Then list your debts: mortgage, auto loans, student loans, credit cards and all other debts you have. Add each column up.

You should have more in assets than you do in liabilities. If you don't, you are walking a financial tightrope. If your financial situation changes, you become ill or lose your job, you could be financially ruined.

Primarily, this book will help you establish a realistic plan for reducing debt. It will outline options available to you to help you become debt free in a few years. Additionally, this book will help you to understand how to consider your overall debt picture and your current monthly budget when making credit decisions in order to save more.

Using the tips in this book you can recover from debt problems successfully and become skilled at managing your money properly so you can live free from debt and without money worries for the rest of your life!