Is Debt Consolidation Worth It?
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
Bleav + Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen!
4.6 • 858 Ratings
🗓️ 2 February 2022
⏱️ 14 minutes
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| 0:00.0 | Hey, this is Daniel. Thanks for listening to DIY Money. If you haven't already, be sure to give us a five-star review on iTunes so your friends know that they can learn from the show. Also, follow us everywhere on social at DIY Money Podcast. If you haven't already, be sure to check out the video on YouTube. We've got some awesome bonus content there. |
| 0:22.5 | Now, enjoy the show. |
| 0:28.7 | Welcome back, ladies and gentlemen, you're listening to another edition of DIY money. |
| 0:35.4 | Yeah, I want money. |
| 0:36.0 | Daniel, do you know why we are so adamant about paying down debt on this podcast? |
| 0:45.0 | Nope. |
| 0:45.9 | Because when you have little to no debt, you are able to absorb the increased variable expenses, such as your utilities. |
| 0:57.0 | Utilities never go up. |
| 0:58.4 | Your groceries. Those are always the same price. |
| 1:01.5 | How about your auto fuel? |
| 1:04.0 | That goes up a little bit. Yeah. Holy cow. People are really suffering right now, and I feel for them, I mean, here's the deal. We have |
| 1:14.6 | little to no debt. And yet I look at our utility bills, our grocery bills, et cetera. Many people |
| 1:21.1 | are asking, you know, we get questions, oh, should I buy real estate? What are, you know, these prices |
| 1:27.0 | are going to run away. |
| 1:27.8 | I'm telling you, I'm speculating a little bit, but you want to know how these real estate |
| 1:32.3 | prices are going to come in, in my opinion, it's real simple. |
| 1:36.8 | Majority of Americans live paycheck to paycheck. |
| 1:40.1 | The majority of Americans now have no savings. |
| 1:42.4 | Savings has been completely demolished over the last 12 months. |
| 1:47.0 | Increased debt, consumer debt amounts are going up. |
| 1:51.9 | And therefore, once we start to see an increase in the variable expenses, whether it's |
| 1:56.7 | utilities, groceries, et cetera, and someone has to make a choice. |
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