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
2739: How I Wasted Over $13,000 Refinancing My Mortgage by Andy Hill of Marriage Kids and Money
2738: How To Not Be Victimized By Empty Nest. Letting Go With Intention by Dr. Margaret Rutherford
2737: How to Avoid Early Retirement Failure by Jillian Johnsrud on Financial Independence & FIRE
2736: 5 Things Every Frugal Person Should Spend Money On by Lisa Harrison of Mad Money Monster
2735: Why You Should Totally Spend on Wants by Chris of Keep Thrifty on Intentional Living & Mindfulness
2734: Weird Ways Our Brains Control Our Money Habits by Kristin Wong of Get Rich Slowly on Building Wealth
2733: 4 Ways To Take The Ego Out of Money Decisions by Mindy Crary with Tiny Buddha on Personal Finance
2732: [Part 2] Running Low in Retirement - Income Strategies by Darrow Kirkpatrick of Can I Retire Yet
2731: [Part 1] Running Low in Retirement - Income Strategies by Darrow Kirkpatrick of Can I Retire Yet
2730: Chewing Your Food: Is 32 Really the Magic Number by Erica Cirino with Healthline on Eating Healthy
2729: Money is Fungible by Jeremy Jacobson of Go Curry Cracker on Building Wealth & Retirement
2728: Does Your Retirement Need a Plan B? by Kathleen Coxwell of New Retirement on Reverse Mortgage
2727: Every Once In A While, We’re Less Frugal by Liz of Frugalwoods on Frugality & Saving Money
2726: What’s Probably Missing From Your Financial Plan by Erik Carter of Financial Finesse
2725: Cognitive Bias by The Mad Fientist on Financial Investments & Investing Risk vs. Reward
2724: The First $100,000 Is The Hardest by J. Money of Budgets Are Sexy on Building Wealth & Investing
2723: When Wealth Isn’t Real by Nick Maggiulli of Of Dollars and Data on Personal Financial Habits
2722: Overcoming Procrastination With The Habit Rule Of Half by Amy Ongaro of Break The Twitch on Productivity
2721: When You Should & Shouldn’t Refinance Your Student Loans by Travis Hornsby with JackieBeck.com
2720: 5 Tips to Have a Successful No Spend Month by Amanda Brownlow of Hello Brownlow on Frugality
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