In What Order Should I Pay Off My Debts? A Rational Guide to the Debt Snowball, Debt Avalanche, and Other Considerations RPF0032

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 31 July 2014

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

One of the biggest debates in the personal finance space is about which order to use to pay off my debts. Opinions vary, experiences vary, and tempers flare when this subject is brought up. I think the debate is helpful in some ways but rather silly in other ways. I think it’s a lot easier […]

Transcript

Click on a timestamp to play from that location

0:00.0	Radical Personal Finance, Episode 32.
0:05.0	What order should I use to pay off my debt?
0:08.0	A rational approach to the debt snowball, the debt avalanche, the debt tsunami, and all of the other debt and
0:15.4	precipitation terms you can throw in. So, 2014.
0:41.0	Today we're going to try to stir up the Hornets nest a little bit try to give a little bit of information
0:46.4	and some what I think are rational ways of thinking and considering the details of how should I go about paying off my debt. I've decided to pay off my
0:56.7	debt, but what order should I if you pay attention to the personal finance world,
1:12.0	you'll know this is an ongoing debate that everyone likes to argue about.
1:15.2	If you don't pay attention to the personal finance world, this may be news to you that this is even a controversy of any sort. I often talk with people and I mention you know this
1:25.5	controversy and they look at me with a blank stare like why would anybody do that?
1:29.6	And that being the other thing that someone else would say,
1:33.0	why would anybody do this one?
1:35.0	And it's rather comical to me
1:38.0	just because everyone has this broad range of opinions.
1:42.0	And this is one of those things where sorting out right and wrong is challenging
1:49.2	because it's personal. And so I think this is an excellent example to use to kind of to show how I think that we who are talking about we who are interested in finance we who are interested in a
2:03.7	rational approach a rational and radical approach to finance to personal
2:08.3	finance I think we have a responsibility to kind of up our game in this area.
2:14.7	Because there are literally millions of people that are depending upon us, those of us who
2:18.8	are interested in this stuff, whether we're a financial advisor, a financial blogger, a financial, just an average person who's
2:26.0	interested in finance, all of us are going to have the ability to impact someone else's
2:30.3	life when they ask us questions.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.