Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2654:
Philip Taylor of PTMoney.com delves into the complex decision of using loans to pay off debt, offering a critical examination of various loan types and their implications. Taylor emphasizes the importance of addressing the underlying causes of debt and exploring self-managed debt reduction strategies, cautioning against the potential pitfalls of simply transferring debt through loans without solving the root financial behaviors.
Read along with the original article(s) here: https://ptmoney.com/getting-a-loan-to-pay-off-debt/
Quotes to ponder:
"Just because you can get a loan to pay off your debt, doesn’t mean you should."
"People who consolidate debts this way often find themselves in dangerous levels of debt again."
"Shortcuts might help you get out of debt quicker, but your habits will inevitably land you back in debt eventually."
Episode references:
Ramsey Solutions' Debt Snowball Calculator: https://www.ramseysolutions.com/debt/debt-calculator
Calculator.net's Debt Payoff Calculator: https://www.calculator.net/debt-payoff-calculator.html
Learn more about your ad choices. Visit megaphone.fm/adchoices
2579: The Biggest Lie in Personal Finance by Nick Maggiulli of Of Dollars and Data on Retirement Myths
2578: Moments Can't Be Captured by David Cain of Raptitude on Fleeting Moments
2577: [Part 2] 5 Tips For Making Extra Money by Philip Taylor of PT Money on Goal Setting and Hard Work
2576: [Part 1] 5 Tips For Making Extra Money by Philip Taylor of PT Money on Side Hustle Ideas
2575: Pension, Schmension! Retire on Your Own Terms by Mr. Money Mustache on Financial Independence
2574: What Is Portfolio Rebalancing? (And How To Do It) by Sarah Sharkey with The College Investor on Asset Allocation
2573: 6 Things You Should Never Scratch Off Your Budget by Courtney Luke of Arrest Your Debt on Savings and Health Insurance
2572: Utility on Investment by Tynan on Financial Freedom
2571: 5 Ways to Involve Kids in the Family Budget by Chelsea of Smart Money Mamas on Financial Literacy For Children
2570: When Life Throws You Curveballs by Julie Morgenstern on Parenting Challenges
2569: Stop Using These 6 Ridiculous Excuses For Not Saving Money by Michelle Schroeder-Gardner of Making Sense of Cents on Financial Health
2568: How to Stop Worrying About Money by Jessica Jokisch of ChristineLuken.com on Financial Health
2567: How We Developed Couple Financial Goals by Amanda of Women Who Money on Communication and Trust
2566: What is Debt Settlement and How Does It Work? by James Lambridis of Debt MD on Financial Management
2565: [Part 2] Our Retirement Expenses: Where Does the Money Go? by Darrow Kirkpatrick of Can I Retire Yet on Budget Management
2564: [Part 1] Our Retirement Expenses: Where Does the Money Go? by Darrow Kirkpatrick of Can I Retire Yet on Retirement Planning
2563: Roth Conversion by Mike Ballew of Egg Stack on Taxable Events
2562: Am I Too Old For Personal Training by Riley Pearce of Free Form Fitness on Aging and Exercise
2561: 3 Numbers That Matter More Than Your Credit Score by Kelley Long of Financial Finesse on Net Worth and Financial Freedom
2560: Investment Fees Are The Worst by Wanderer of Millennial Revolution on MER and Mutual Funds
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast