It’s Monday and that means it’s time for your Monday Money Tip! In Episode 18, we’re talking about the popular topic of debt! Many of you have been waiting patiently for this topic and we have some important information and tips for you. This week, we’re focusing on which debt you should pay off first and I will explain the debt snowball.
It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take a next step, and that you’ve had FUN with us!
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About the Episode:
- Joe answers the question, “I have three credit cards, one with a $17,000 balance and the other with a $12,000 balance. Both probably have about a 15% interest rate. The third credit card has about a $3,000 balance and no interest for another year. Which should I be paying off first?”
- Hear a success story from Crystal who paid off her student loan 9 years early.
- Joe explains the concept of the debt snowball and why he’s such a big fan of this technique.
- Joe explains how 0% Balance Transfer Credit Cards work and why they could be right for you.
Quote of the Day: “Rather go to bed without dinner than to rise in debt.” – Benjamin Franklin