Finance Flash Go! Episode #14: Student Loan Management

This episode of the Finance Flash Go! podcast is about maybe the most important and also intimidating part of your financial plan…student loan management!

Listen to the full episode and subscribe here!

So, we will now address debt pay-down and student loans.

I’m going to start generally by emphasizing that paying off debt is the most important thing that you can do to boost your financial well-being and advance towards financial freedom.

student loan management

Why?

That’s because this really is the first step to financial freedom.

You need to stop taking on new debt and get rid of any and all debt you have.

Look, when you are in a hole the first step is to stop digging. Then start climbing out. You can’t run until you get out of the hole.

So, this is a huge thing that should definitely be at or near the top of your financial priority list that will go in your financial plan.

Each $1 you use to pay off debt is $1 that your net worth increases.

So, that’s what I am doing now. Every month, I throw huge sums of money at my debt.

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Finance Flash Go! Episode #45: Small Cap vs. Mid Cap vs. Large Cap Stocks
My Stock Portfolio Is Better Than Your Financial Advisor’s
Stress Free Stock Market Investing Is Easier Than It Seems!
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Finance Flash Go! Episode #44: Understanding Growth vs. Value Stocks

I really hope that you all enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to [email protected].

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The Prudent Plastic Surgeon

Jordan Frey MD, a plastic surgeon in Buffalo, NY, is one of the fastest-growing physician finance bloggers in the world. See how he went from financially clueless to increasing his net worth by $1M in 1 year Ā and how you can do the same! Feel free to send Jordan a message at [email protected].

2 Responses

  1. I don’t think this is universally applicable.

    My student loans are at <1% (consolidated before the universal 7.8% rate was passed by Bush the 2nd).

    That's almost free money. My money is better sitting in a high-yield savings account with zero risk while paying down my student loans as slowly as possible.

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