• How to Deal with Debt

  • Mar 15 2022
  • Length: 9 mins
  • Podcast

How to Deal with Debt

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  • Summary

  • Dealing with Debt - Part of the special series on the 7 Pillars of Financial Wellbeing

    For many of us, some form of debt is a fact of life, but in my view it’s something we should use for our advantage rather than against us.

    Carrying a lot of consumer debt such as credit cards and loans acts like an anchor dragging behind us or trying to drive with the handbrake on. Not that I am demonising all kinds of debt, far from it. How difficult would buying a house be without a mortgage or many of the functions of modern life without some kind of credit option?

    My purpose here is to encourage you to pause for a moment and think about how much debt you have and how quickly you can pay it off.

    In this episode we look at 3 ways to reduce the impact of consumer debt including:

    • Banish minimum payments
    • Switching to a lower APR and
    • Using the Snowball effect to eliminate your debt in record time.

    Resources mentioned

    Save money on your credit cards video

    The Financial Liberation Programme
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