1094: Debt Costs a Fortune by ESI of ESI Money on Long-Term Borrowing Costs of A Mortgage & Saving Money

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Self-improvement, Education, Business, Investing

4.5 • 1.3K Ratings

🗓️ 8 March 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

ESI of ESI Money on debt costs a fortune. Episode 1094: Debt Costs a Fortune by ESI of ESI Money on Long-Term Borrowing Costs of A Mortgage & Saving Money ESI Money is written by "ESI", a 50-something retiree. The site is basically a list of what's allowed him to become financially independent and how you can implement those successes in your life. His philosophy is simple and focuses on doing three simple things to achieve financial independence: earn, save, invest. There's a bit more to it than that, of course, but if you can concentrate on these three areas, they will get you at least 90% of the way there. The original post is located here: https://esimoney.com/debt-costs-a-fortune/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Dan,
0:02.0	Episode 1094,
0:04.0	Debt Costs a Fortune
0:05.8	by ESI of ESI Money.
0:09.2	And I am your host and narrator of the show.
0:11.6	My name is Dan and welcome to another Sunday edition of optimal finance. and from some of the best blogs in the world with the permission of the authors of course and if you like today's episode
0:26.2	you'll probably enjoy our other show optimal living daily just search for optimal living daily in the podcast
0:32.1	app of your choice to find it.
0:34.0	So I'm going to keep this intro nice and short for you today and let's get right to our
0:37.8	post as we start optimizing your life.
0:41.2	debt. debt costs a fortune by ESI of ESI
0:48.5	money. We've all heard the stories of people who have gotten out of debt and how wonderful it is.
0:55.0	Dave Ramsey has made the Freedom Yell standard for his listeners who have eliminated all their debt.
1:01.0	And yet the debate rages. Is it wise to pay off all your debt or not?
1:05.5	There are arguments on both sides. This post is designed to address one aspect of the
1:10.7	debt issue, the cost of debt. Many people know that it's expensive, but they don't really
1:15.6	tally up the numbers, and that's what I hope to do here. And for those of you who don't know,
1:20.1	I've been debt-free for 20 years or so, other than my recent house purchase where I needed
1:24.6	to take a short-term loan because my previous house hadn't sold yet.
1:29.0	The Cost of Debt
1:30.9	Let's begin with this post from Money magazine titled,
1:34.0	You're going to spend $280,000 on interest in your lifetime.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.