One Redditor's Guide to Cleaning Up $16,000 of Debt (plus an intro to Bumped)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.4 • 2K Ratings

🗓️ 19 July 2019

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

With debt piling up, savings gone, and your credit cards maxed out, how do you pull yourself out of the hole and get on the right financial path? The first step, of course, is to stop digging, which is what one Reddit user did after racking up over $16,000 in credit card debt. They also posted a list of things they did to make their debt go bye-bye and their Benjamins start to pile up. While it may not be quick or easy to get yourself back to being debt-free, there are definite steps you can take to get yourself into the world of financial freedom - and we'll walk through one piece which reported on the Reddit forum, adding in experts and other information. How much of it is helpful and what isn't? Depends on what section of the piece we're talking about. Today, helping us dig in today is a crack team of internet stars. First, making her return trip to the basement is Chelsea Brennan (Smart Money Mamas), second, we'll welcome Len Penzo (LenPenzo.com), and then we'll say hello to the guy from our own podcast, OG. How would you like to earn stock rewards from companies where you already shop? While you shouldn't shop more to get rich (that won't end pretty), it would be nice to get some extra stock just for buying pillowcases, right? We thought so too, and that's why halfway through the show we'll take a little break from our discussion while Joe rings up and chats with founder David Nelsen from Bumped. Plus, after we subject entertain our roundtable with a round of Doug's trivia we'll break out the Magnifying Glass and answer a listener voicemail from Tyler. His 401k plan is expensive. How does he control his costs of investing for retirement? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:15.3	Hey there Stackers we're getting ready to press play on today's episode but before we do that I just want to give you a little heads up I of course listen to a ton of podcast myself and I like good audio and I have to tell you that the solution that we've been using lately to try to get good audio especially from my dad's shortwave
0:21.3	it has this weird ducking feature. Sadly, we usually run two
0:27.0	recorders at the same time just to show you a little bit about how the
0:29.7	sausage is made. This time we weren't able to do that for just a variety of reasons. So you're
0:36.2	going to hear me kind of duck out a few times here, but it's such a fun
0:42.1	episode. We got in a circle, mom, oh g, dog, I, and said, you know what, we've got to put this out because we've got the Chelsea Brennan with us today.
0:54.0	Yes, the Chelsea Brennan and the stuff we talk about is fantastic.
0:58.0	So I'm going to apologize for some of the beginnings of my sentences
1:02.0	and we have taken that solution to the curb and it is going
1:08.1	out with the trash. So back to our usual sound quality next episode. Before today, the entertaining but orally imperfect Friday episode.
1:25.0	Hey, this is Pete the Plan or USA Today Money columnist and host of the Ask Pete the Planer podcast.
1:31.0	When I'm not fixing the weirdest financial situations you've ever heard of,
1:35.7	I'm stacking Benjamin Show. I'm Joe's Bob's neighbor Doug and today we're celebrating my favorite holiday Friday.
2:02.1	We're breaking out the red wine-stained carpet today because
2:04.9	coming back for a return visit to the basement is our favorite trivia
2:09.3	contestant, the chief smart money mama at smart money mamas.com, the the
2:15.0	Chelsea money mama at smart money mamas dot com the Chelsea Brennan and from our very own podcast it's
2:19.2	oh g
2:20.3	plus from lenpens.com, it's Spider-Man.
2:24.0	Nah, he's busy blowing up a movie theater box office somewhere.
2:29.0	Now today, it's just Lend Penzo.
2:31.0	Ha!
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.