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Financially Undressing: A Talk About Your Debt

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Manage episode 399493267 series 2471867
Content provided by Travis Hornsby. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Travis Hornsby or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Are you ready to strip away the layers of your financial life? We’re unbuttoning the secrets of debt management and financial planning. We cover everything from the impact of inflated car prices on credit and the potential risks and benefits of home equity lines of credit (HELOCs) to debt management strategies and the potential tax implications of forgiven debt. Senior Student Loan Advisors Sim Terwilliger, CFP®, CSLP®, and Meagan McGuire, ChFC®, CSLP®, share expert insights on debt consolidation, budgeting for recurring expenses, and the significance of prioritizing mental health while working towards financial goals. Get ready to shed some light on your financial wardrobe with valuable tips to help you become debt-free and financially empowered.

In today’s episode, you'll find out:

  • The difference between the funnel method and the strainer approach for financial goals
  • How the pandemic’s inflated car prices are impacting car loans and credit
  • What high loan-to-value ratios mean for your credit score
  • The role of credit reports for landlords, jobs, and future debt costs
  • How car payments can make or break your house hunting journey
  • A warning to parents about using HELOCs to pay for children’s college costs
  • When to use HELOC vs. double consolidation for student loan debt
  • What changes borrowers can expect in student loan forgiveness programs
  • Why math-based strategies like debt avalanche or debt snowball aren’t a slam-dunk
  • The sneaky language in cosigner agreements and why refinancing is a smart solution
  • What types of debt to prioritize before paying off private student loans
  • How to get out of default on federal student loans
  • The secret to leveraging debt to earn money rather than paying it off
  • Options when dealing with IRS debt and how to balance payment options

Like the show? There are several ways you can help!

Feeling helpless when it comes to your student loans?

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

  continue reading

299 episodes

Artwork
iconShare
 
Manage episode 399493267 series 2471867
Content provided by Travis Hornsby. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Travis Hornsby or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Are you ready to strip away the layers of your financial life? We’re unbuttoning the secrets of debt management and financial planning. We cover everything from the impact of inflated car prices on credit and the potential risks and benefits of home equity lines of credit (HELOCs) to debt management strategies and the potential tax implications of forgiven debt. Senior Student Loan Advisors Sim Terwilliger, CFP®, CSLP®, and Meagan McGuire, ChFC®, CSLP®, share expert insights on debt consolidation, budgeting for recurring expenses, and the significance of prioritizing mental health while working towards financial goals. Get ready to shed some light on your financial wardrobe with valuable tips to help you become debt-free and financially empowered.

In today’s episode, you'll find out:

  • The difference between the funnel method and the strainer approach for financial goals
  • How the pandemic’s inflated car prices are impacting car loans and credit
  • What high loan-to-value ratios mean for your credit score
  • The role of credit reports for landlords, jobs, and future debt costs
  • How car payments can make or break your house hunting journey
  • A warning to parents about using HELOCs to pay for children’s college costs
  • When to use HELOC vs. double consolidation for student loan debt
  • What changes borrowers can expect in student loan forgiveness programs
  • Why math-based strategies like debt avalanche or debt snowball aren’t a slam-dunk
  • The sneaky language in cosigner agreements and why refinancing is a smart solution
  • What types of debt to prioritize before paying off private student loans
  • How to get out of default on federal student loans
  • The secret to leveraging debt to earn money rather than paying it off
  • Options when dealing with IRS debt and how to balance payment options

Like the show? There are several ways you can help!

Feeling helpless when it comes to your student loans?

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

  continue reading

299 episodes

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