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!
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.
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.
10 Reasons a Hybrid Investing Approach is Best
How to Find the Perfect Balance Between FIRE & YOLO
5 Easy Steps for Physicians Who Hate Personal Finance
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!
Important Money Lessons That I Learned From My Wife
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].
Also, please subscribe and give us a 5-star rating if you enjoy the podcast! It helps us continue our mission of helping all of us to achieve financial well-being!