CatalogFinancial LiteracyCredit and DebtGood Debt, Bad Debt, and the Debt Nobody Talks About

Good Debt, Bad Debt, and the Debt Nobody Talks About

6 minProvideFree episode
Good Debt, Bad Debt, and the Debt Nobody Talks About
Credit and Debt
6 MINGood Debt, Bad Debt, and the Debt Nobody Talks About
What you'll learn
  • →Distinguish good debt (mortgage, federal student loans), neutral debt (auto loans), and predatory debt (payday loans, high-interest credit cards).
  • →Recognize medical debt as a category of its own — usually negotiable, usually unfair, usually too high.
  • →Identify which kinds of debt you currently carry and rank them by interest rate.
Proof task

Don't just watch. Do.

List every debt you have on one piece of paper. Next to each, write the interest rate. The highest rate is your enemy. Anything over 15% is hurting you faster than you can earn. That's where the next lesson aims.

Chapters

Jump to a moment.

  • 0:00The hook
  • 1:15The pattern
  • 2:45The interrupt
  • 4:30Practice scenario
  • 5:30The proof task
Up next in Credit and Debt

Keep going.

Episode 4 · 6 min
The Snowball and the Avalanche
Two methods for paying off debt. One is mathematically optimal. The other is psychologically optimal. Pick the one you will actually do.
Episode 5 · 6 min
Negotiating with Creditors
You can call. They will talk. Here is exactly what to say, in what order, and what to expect.
Reflect

“Which of your debts have you been ignoring because looking at it feels worse than carrying it?”

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