How to take control of your finances? Everyone is looking for techniques on how to handle money and debt to guard against the possibility of getting drowned by one’s financial burdens. Having left and right bills and loans can really get you in trouble without proper management and, of course, you’ll probably avoid this by applying some tried and true techniques.
On this episode of The His and Her Money Show, we have Jordan Goodman, author, financial journalist, and the creator of MoneyAnswers.com, sharing incredible insights and strategies on how to master your money, take control of your finances and destroy debt.
According to Jordan, a debt is a huge burden financially and psychologically. It is a result of bad habits. So, it’s important to get rid debt so you can do what you want: start a family, buy a house, car, etc. He emphasizes the positive compounding of your money so you reinvest it to grow rather than doing the opposite or negative compounding–paying the minimum due and making almost no progress with debt.
Jordan shares strategies on how to handle credit cards properly. You must have some discipline. He also tackles a mortgage optimization strategy and explains how your money can work for you instead of working for the bank. He insists on buying something that doesn’t depreciate like stocks, real estate, and other risky investments and got the best deal rather than buying or loaning cars.
He inspires us to grow our money during the working years to possibly sustain a secure retirement. Paying debt is a long process; it’s not an instant thing. It’s a long struggle, so learn the basic techniques. If you can’t start by yourself, get some help and great ideas from the expert!
WHAT YOU WILL LEARN IN THIS EPISODE
- One of the biggest mistakes people do in managing finances
- How to make the transition from bad to better habits
- How to get out of credit card debt quicker and tips for handling it
- Techniques for paying a 30-year mortgage loan in just 5-7 years
- Ways to get your car loan down
- How to develop mental toughness and get on track for getting rid of debt
- Advice on handling student loan debt
- Words of encouragement for people with doubts to take the first step to get out of debt.
RESOURCE MENTIONED IN THE EPISODE
- Master Your Debt by Jordan Goodman
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