Don’t touch that cheap debt. Did you know that not all debt is created equal? There is such a thing as smart debt believe it or not.
It’s very popular these days to get fixated on paying off all of your debt in record speed, but I’m going to argue that isn’t always the smartest financial decision you can make with your debt. Cheap debt is one of the best kinds of debt you can have.
I know, debt makes you feel queasy and like you want to vomit. Me too, however, I understand that smart debt means that you’re using your money in the best way possible so you can actually grow your money while you’re paying off your debt. It’s like having your cake and eating it too.
On This Podcast Episode:
- I’m going to explain why some debt is smart debt
- Look at 3 different scenarios where paying off debt has an impact on your future
- What exactly is cheap debt (hint, it’s debt under 7%)
- How you can use this new way of thinking to increase your overall net worth
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Shannah Compton Game is a Money Wellness expert, host of the to-rated Millennial Money podcast, and CERTIFIED FINANCIAL PLANNER with an MBA. Millennial Money has over 15 million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.