On this week’s episode of Fiscally Savage we’re discussing part two of the system problem. Dylan will talk you through setting yourself up for the lumpiness of life and an in depth discussion about debt. How to pay it off? When to pay it off? What are the best methods for paying off debt? All will be revealed in this episode.

 

0:00 - 1:30 - Introductions.

1:32 - 3:30 - Outlining today’s topic and recapping last week’s episode, “The System Problem”.

3:30 - 5:05 - One simple truth about life, it’s lumpy! How do we solve this?

5:07 - 5:50 - Split your online savings into a different bank account, create friction between that and your main account.

6:00 - 6:42 - Be aware of minimums and fees!

6:50 - 13:00 - Debt, how to pay it off, when to pay it off and everything in between.

13:00 - 15:00 - What method do we use to pay off debt? Snowball method vs Avalanche method.

15:00 - 17:30 - “Wouldn’t it be better if I invested that money?”.

17:30 - 20:30 - Consumer loan debt vs Mortgage debt.

20:30 - 22:00 - Don’t drink the Kool Aid about tax benefits for paying mortgage interest.

22:00 - END - Wrap-up & Outros.