Money, Mortgage, Mindset

To Debt Consolidate or to not Debt Consolidate?

Episode Summary

For the average American, your home debt is the biggest and longest lasting debt you will incur in your lifetime. Everyone in America wants flexibility, and flexibility is what it’s all about because life happens! Something will come up. It is crucial to hope for the best and plan for the worst.

Episode Notes

For the average American, your home debt is the biggest and longest lasting debt you will incur in your lifetime. Everyone in America wants flexibility, and flexibility is what it’s all about because life happens! Something will come up. It is crucial to hope for the best and plan for the worst.

“My money is a game, and the better I play the game the faster I can build wealth, the faster I can get to retirement, and the more I can enjoy life without having to worry about money because worrying about money is a terrible feeling.”

One of the goals people try to achieve when doing a refinance is to pay it off faster, but you have extended it 3-5 years. Now, keep paying that principle down – there is going to be less $ for them to keep charging you interest on.

When creating an action plan for your loan repayment - attack the highest interest rate first, paying the minimum dues on the others until the highest is paid off. Treat it like a game! When it comes to credit and debt consolidation - no one knows the rules to the game, no one taught anyone the rules. It makes it even more intimidating. People do not realize there’s more than one option. One size does not fit all, and we’re here to help customize this to your advantage. Let us make it work for you.

Andrew Karam: website | facebook | linkedin | instagram | book a call

Kevin Booth: website | facebook | linkedin | book a call