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.