This is optimal finance daily episode 516.

How debt shaming can prevent debt relief by Jerry Ann Watkins with money mini blog.com

and I'm Dan your host this is where I read to you from some of the best blogs on personal finance.

For now, let's get to today's post and start optimizing your life.

How debt shaming can prevent debt relief by Jerry Ann Watkins with Money Mini blog.com.

Americans are in a lot of debt between Between credit card debt, the rise of student loans, and the ever-influx real estate market,

it's harder and harder for people to live without some form of debt.

Exact figures are hard to come by as credit card debt, also known as revolving debt,

and consumer debt, is measured separately from debt like student loans and mortgages.

That makes sense, as they are very different, but that separation often disappears when financial

advice is given. If you do a search for getting out of debt, you'll find a lot of great

inspiration from people who had seemingly insurmountable debt and dug

themselves out.

You'll also find a lot of generic 100 ways to save $100 a month articles with generic advice

like spend less on food, cut your landline, and stop using credit cards.

Advice like that isn't wrong, except for the fact that most people who still have a landline

probably have a good reason and aren't giving it up at this point.

But it's not very useful for people whose only debt is from student

loans and or a mortgage. Debt of any kind is draining, and I suggest that anyone in any sort of

debt does everything they can to minimize interest and pay it off quickly.

But there are some legitimate reasons that debt shaming is counterproductive when talking about student loans and mortgage debt.

First, let's define debt-shaming.

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