Five strategies for getting out of debt - The Financial Coach Academy Podcast - EP. 23

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  • เผยแพร่เมื่อ 4 พ.ย. 2024

ความคิดเห็น • 11

  • @allisongolden4288
    @allisongolden4288 ปีที่แล้ว +1

    When getting out of debt I started with my credit card debt. I had 5 cards with balances ranging from $500. to $2k, The snowball method worked best for me because I liked the instant gratification and it motivated me to keep on until I paid them off.

  • @corypfenning227
    @corypfenning227 ปีที่แล้ว +1

    When I got out I f debt I started with Dave’s baby steps. It worked for me because of the burning need for me to achieve the goal that I needed to get out of debt for. We were moving and I moved 5 months ahead of my family. For us to be reunited I needed to eliminate the debt. So I did.

  • @50NotFiveO
    @50NotFiveO ปีที่แล้ว +1

    Right. Fractured focus slows us down. In money and in business!

    • @FinancialCoachAcademy
      @FinancialCoachAcademy  ปีที่แล้ว

      "fractured focus" - great alliteration! And yes, applies to business too!

  • @meghanhurtado1147
    @meghanhurtado1147 ปีที่แล้ว +2

    I definitely did a "custom" approach. At the time I really didn't have a "method" I was following. Just went with "logic." I had a zero interest card I tackled first so I didn't accumulate interest (it was for dental work). And I had some credit cards, I am not sure I even knew the interest rate, and I actually tackled the highest balance on those but that was because of how large the payment was (so Kiyosaki?) And then student loans cause they were pretty low interest, I consolidated so I wasn't making 4 separate payments.

    • @FinancialCoachAcademy
      @FinancialCoachAcademy  ปีที่แล้ว

      That's awesome Meghan- your method makes total sense to me! But you could have chosen another method and I probably could see the "why" behind it too! I'm just glad you did it the way that works best for YOU! And congrats on getting out of debt!

  • @lifeonabudgetwithDee
    @lifeonabudgetwithDee ปีที่แล้ว +1

    Are you going to do a video on debt management? This one was pretty good. Great advice!