The Next Dollar Roadmap to Financial Independence - #3: Toxic Debt!
Toxic Debt is the subject of Milestone 3 on The Next Dollar Roadmap.
Curt explains several ways to categorize debt in an effort to identify forms of debt that are more helpful and those that tend to be destructive. We’ll also explain several methods for paying off debt.
Other topics in this video include Interest rates, mortgages, HELOCs, Car Loans, Student Loans, Pay Day Loans, Credit Cards, Snowballs, and Avalanches.
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The Next Dollar Roadmap - • A Step-By-Step Guide to Financial Independ...
Starting Point: Creating A Budget - • The Next Dollar Roadmap to Financial Indep...
Milestone 1: The Uh-Oh Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 2: Take Advantage of Your Employer Match - • The Next Dollar Roadmap to Financial Indep...
Milestone 3: Pay Off Toxic Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 4: Full-Sized Emergency Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 5: Save 15% to 25% in Tax-Advantaged Retirement Accounts - • The Next Dollar Roadmap to Financial Indep...
Milestone 6: Invest for Flexibility - • The Next Dollar Roadmap to Financial Indep...
Milestone 7: Prefund Kid’s Education Needs - • The Next Dollar Roadmap to Financial Indep...
Milestone 8: Pay Off Remaining Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 9: Total Financial Independence - • The Next Dollar Roadmap to Financial Indep...
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00:00 – Start
01:05 – Opinions on Debt
02:14 – Classifying Debt
02:46 – Secured vs Unsecured
03:36 – Appreciating vs Depreciating
04:05 – “Good” vs “Bad” Debt
06:10 – Specific Debt Types
08:48 – Paying Off Debt
13:02 – Debt Snowball
15:25 – Debt Avalanche
16:54 – Wrap Up
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