Meet "The Money Doctor"

About Frances Rahaim, Ph.D.

Frances Rahaim, Ph.D., founder of HUG Your Student Debt, Inc.,™ and author of “Debt or Alive,” has devoted more than 30 years to helping individuals and businesses manage their finances successfully.

A problem-solver at heart, Rahaim is passionate about dispelling the stigma surrounding debt and alleviating the stress many individuals experience about managing money. Utilizing proprietary software and financial coaching Rahaim and her team help clients improve vital money management skills, to achieve their short and long-term goals.

At age 43, life-changing events motivated The Money Doctor to review her personal finances from a fresh perspective. Her research quickly revealed that the Registered Investment Advisor and Insurance Broker training she received had focused too narrowly on investment strategies, insurance, and risk management, with virtually no consideration for comprehensive debt management, budgeting, and other money-management topics. The root of the deficiency may be intrinsic. Corporate America, the same entities responsible for training financial planners, profits greatly through investments, lending, and long-term recurring payments.

Her discovery? Retiring ALL debt early—not just credit card debt—improves lifestyle and has a dramatic, positive effect on retirement planning! Consequently, in 2008, she launched PowerDownDebt, Inc.,™ (PDD) a credit-savvy, debt-management and financial coaching program, assisting clients to become debt-free, budget wisely, build emergency reserves and rejuvenate their retirement dreams.

Dr. Rahaim is adept at understanding complex situations, understanding the human condition relevant to money, and finding creative solutions to difficult financial issues. Over the years she and her staff have assisted thousands of people with a myriad of financial challenges, but it’s the heartfelt stories students and parents have shared that kindled her passion in addressing what she recognizes as a travesty – the Student and Parent education debt crisis.

To address this nuanced and complex issue, Rahaim was inspired to develop an afforable user-friendly solution to managing education and all other debt simultaneously, while providing access to financial coaching for long-term success. The result is HUG Your Student Debt, Inc., a positive, secure environment where students and parents have access to the valuable, objective information and support they deserve.

Statistics clearly show that students are experiencing the negative effects of overwhelming debt, often receiving help in the form of lower payments. While reduced payments are appealing and often necessary, the payoff date is postponed substantially, causing students to pay far more in interest than originally projected.

Further, the high cost of education is increasingly threatening parents’ financial security and retirement lifestyle. Parents are shouldering payments on cosigned loans, Parent loans, ongoing college expenses, and in some cases, post-graduation living expenses. Many parents are still paying on their own student loans too! Refinancing homes, and utilizing retirement savings to fund higher education, can derail years of retirement planning and delay that once projected retirement date – for some, indefinitely.

 

2018 Finalist Better Business Bureau Marketplace Excellence Award

Frances Rahaim, Ph.D. (center) receiving an award as a Finalist at the 2018 Western Massachusetts Better Business Bureau Marketplace Excellence Awards contest for her work with PowerDownDebt, Inc.™

"Nothing in life is to be feared. It is only to be understood."
– Marie Curie