34 \\ Financial Systems (Part 2) | Understanding Debt: Tracking, Paying Off, & Staying Motivated on Your Financial Goals
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What are your thoughts, feelings, or emotions that come up when you think about DEBT?
In this episode of Being Better Everyday Podcast, we are continuing our financial series and today I talk about valuable insights into managing debt. I highlight the importance of understanding debt's impact on my financial health and provide actionable tips such as tracking my debt with spreadsheets, comprehending loan amortization, and employing strategies like the snowball and avalanche methods. I also underscore the importance of calculating interest to grasp its effect and share motivational resources for debt repayment. My advice is aimed at helping you create effective systems to improve your financial standing.
As somebody with a finance degree and somebody who is securities licensed, I need to say first and foremost, nothing on this podcast is investment finance or tax planning advice, not affiliated with any other organization other than P&W Designs. I'm coming at you as a bestie, sitting across from you with a hot cup of coffee or in my case, a hot cup of water, talking to a friend and geeking out about finances. So no, don't roll your eyes. I really love empowering people to talk about their finances and making people feel informed so that they understand where they're at.
Ways to Work with Me:
Episode Outline:
- Understanding Debt (00:00:58)
- Debt Statistics (00:02:10)
- Impact of Debt on Income (00:03:09)
- Long-Term Impact of Debt (00:04:21)
- Creating a Debt Spreadsheet (00:07:25)
- Loan Amortization Schedules (00:08:38)
- Debt Payoff Methods (00:11:48)
- Playing with Numbers (00:13:50)
- Considering Interest Rates (00:16:55)
- Motivating Debt Payoff (00:18:40)
If you enjoyed this episode please share with you work/business bestie and leave a rating & review! This helps the show reach more working millennial moms that are looking for systems, habits, and routines to become more intentionally productive!
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