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Docs Outside The Box

217 - 3 Tricks to get student loan debt off your back

Docs Outside The Box

Dr. Nii Darko

Career, Education, Doctor, Medicine, Careers, Job, Business, Health & Fitness, Finance, Investing, Premed, Black, Money, Lifestyle, Mindset

4.9516 Ratings

🗓️ 8 March 2021

⏱️ 48 minutes

🧾️ Download transcript

Summary

SEND US A TEXT MESSAGE!!! Let Drs. Nii & Renee know what you think about the show! Student loan debt is a 1.7 trillion dollar issue in the United States. Renee and I could not have achieved our goals of becoming doctors without taking out large student loans. As we started "adulting," we realized the loans were holding us back from doing what we love and hindered us from reaching our financial goals fast. If you seriously want to become financially independent and wealthy, start by payi...

Transcript

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0:00.0

This episode is brought to you by Set for Life Insurance.

0:06.0

Listen, Docs, one of the first steps we took to pay off our student loan debt was realizing

0:10.2

we paid way too much for our disability insurance.

0:12.9

That all changed when we found Set for Life Insurance.

0:15.6

They helped us with a customized insurance policy that met our needs and most of all budget.

0:22.3

To learn more, check out set for life insurance.com. All right, everyone, this episode is for everyone. We're going to be

0:28.5

talking about student loan debt, the efficient tactics that you can use to pay off your debt as

0:33.0

quickly as possible. This is for everyone. If you're a medical student, you are accumulating debt while you're listening to the show, no doubt, right? If you are a resident, you're trying to figure out how to pay off your debt. And then if you're in attending, you're trying to prioritize a whole bunch of different things, not just paying off your debt, but also how to invest, how to retire, and also maybe some family obligations that you need to pay for also. So we got Brent Lacey. He is from

0:56.1

the Scope of Practice podcast. He talks about everything from personal finance to how to manage your

1:01.9

private practice. And we're going to be talking about the debt snowball method as well as the

1:06.0

debt avalanche method. But we're going to talk about his unique method that he coaches people

1:10.5

on how to pay off

1:11.7

debt as quickly and efficiently as possible. So you definitely do not want to miss this. Now,

1:17.5

you're going to hear a couple of times on this episode, us mentioning Dave Ramsey. Now, me and my

1:23.1

wife, we listened to Dave Ramsey's podcast when we were paying off our student loan debt,

1:26.9

but we also listened to a whole bunch of differentsey's podcast when we were paying off our student loan debt. But we also

1:27.6

listened to a whole bunch of different people's podcast also. And, you know, recently he made some

1:34.0

comments about the stimulus check about, you know, if you need $600 or $1,400 to bail you out,

1:39.5

then you got bigger problems and basically saying that it's not warranted to get that check. Yeah,

1:43.6

I'm not down with that. I think that those comments are very insensitive. So I know for some time there's been some comments that he's been saying or just things that he does in general that I'm not cool with. Me and my wife aren't cool with. And I know that a lot of people have been starting to slowly separate themselves from that. We listen to other bloggers. We listen to other podcasters, also to get, you know, the debt financing, the personal financing, investing, investing, investing, investing, investing, investing, investing, investing, and information that if you're wondering, you know, what other people are out there that you can listen to that I think will give you great information, but also at the same time, kind of understand where we're all coming from and at least be a little bit more sensitive to that. Here's a list of people that I recommend. I recommend

2:21.3

Farnoosh Tarabi with her podcast sold money. I recommend to earn your leisure podcast.

2:27.1

Recommend his and her money, paychecks and balances, Popcorn Finance with Chris Browning,

...

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