Post By RelatedRelated Post
Lynette Khalfani-Cox is a personal finance expert and a New York Times best selling author. She has been regularly appearing on the Russ Parr Morning Radio show since 2008. Ms. Khalfani-Cox has written a total of six personal finance books, and she also co-authored a series of four money-management books for children entitled, The Millionaire Kids Club. Her New York Times best-seller, Zero Debt: The Ultimate Guide to Financial Freedom, is the book she is most well known for. She wrote this book after being able to eliminate $100,000 worth of credit card debt in just three short years. Ms. Khalfani-Cox also gives motivational speeches and financial seminars all over the country to get her message out and help people find ways to live a debt free life. In addition, she is on the board of directors for WorldofMoney.org, which is a New York City non-proft that teaches underprivileged teenagers financial literacy skills.
In this video Ms. Khalfani-Cox discusses multiple strategies to help pay down debt quickly. She also talks about how to combine these strategies to make sure the debt is being attacked from multiple angles. Combining multiple strategies is a key to being able to eliminate debt as quickly and efficiently as possible. Some of her strategies include paying more than just the required minimum payment and using customer loyalty as leverage to negotiate interest rates with banks and lenders.
Another strategy Ms. Khalfani-Cox discusses in detail is setting up a budget that helps you live within your means while also using your money efficiently and effectively. She highlights the importance of making sure you have money available each month to spend on things that are wants instead of just needs. This makes the budget easier to stick to long term. A budget that is not followed is useless. To find out how to make your dreams of debt freedom a reality, watch the video below: