In this module you will learn about the uses of debt, the various types of debt available, and the pros and cons of using debt to achieve financial goals. Needless to say, you will need to use your financial calculator throughout this module to make the calculations necessary to evaluate debt scenarios and alternatives.

Because most of your clients will have or need a mortgage at some point, understanding the various types of mortgages available as well as the advantages and disadvantages of refinancing a mortgage are covered. We conclude the debt management chapter by covering what makes up a credit score and strategies clients can employ to increase their FICO score.

In Chapter 2, the discussion shifts to when it makes sense to purchase an asset and when it makes sense to lease an asset. There are advantages and disadvantages to each strategy, so understanding these will allow you to better counsel your clients.

The final chapter of this module discusses education funding. This chapter covers the various funding methods parents and students can use to pay for education, financial aid, and other sources of funding such as work-study programs and scholarships.

About the Author

David Mannaioni, CFP®, MPASSM is a professor at the College for Financial Planning. Utilizing his 30+ years of experience in the financial services industry, David also maintains a financial planning practice where he works with his clients in all areas of financial planning. In addition to his certifications, David holds life and health insurance licenses in several states, as well as the Series 6, Series 7, and Series 63 registrations with FINRA. You can contact David at

Complexity Level: Intermediate