E169 – Coming to Terms With Your Debt

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Coming to terms with your debt is tough, very often you’ll need to mentally prepare, The worst thing you can do it wait too long to take the first step.

[1:44] Finding out exactly how much debt you’re in is absolutely critical as it’s the first step in starting your financial future
●     It’s really great being able to help people and teaching them how to conquer their debts
●     We’re putting together debt destruction course that we’re busy building, feel free to apply for the the scholarship!
●     The fear of the unknown is what gets people

[4:36] Diving into Kate’s debt plan to help people understand exactly what we’re talking about
●     When Kate moved in, after a few weeks the bills started rolling in
●     Kate always thought nothing good ever came from checking the mail
●     When they finally checked the mail Kate felt ashamed and didn’t have the answers
●     When the looked through all the information, after calculating everything in excel, we came up with Katie’s number, it was about $200,000 worth of debt.
●     When Kate realized how much debt she had she felt panicked and embarrassed

[9:56] 63% of American’s can’t afford a $1,000 emergency
●     The reason people don’t have money is because they’re in debt.
●     People end up paying significantly more money because of the interest cost, which doesn’t seem like much.
●     Kate could’ve paid $67,000 if she paid her $38,000 loan if she paid it off over the maximum term.
●     It sucks when you have to split your paycheck between different bills.
●     Sometimes you have to do what you have to do to overcome debt.

[15:00] It’s really beneficial to conquer your debt as soon as possible
●     Apply for our scholarship to win free access to the debt scholarship.

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Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 500,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

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