Multidimensional Money

20. Finance 101: Using Debt Responsibly


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In this solocast, Elle discusses the ins and outs of debt. What are the differences between secured and unsecured debt, revolving debt, consumer debt, personal debt and more. She explains when and how to use the different types, the pros and cons of each, as well as how to use it responsibly. Lastly, she explains how to lookout for yourself first before you allow someone to influence you when purchasing a car, home or student loan and answers some of the most commonly asked questions about debt such as "How much is too much"? "What should I payoff first", and more. 

Disclaimer: Please note this is financial education, not investment advice or personalized financial planning. 

Links:

Debt Calculator: https://www.bankrate.com/finance/credit-cards/debt-payoff-calculator/

Student Loan Educational Article: https://www.fool.com/student-loans/federal-vs-private-student-loans/

Credit Card Education: https://www.growfinancial.org/personal/credit-education/

Mortgage Education: https://www.investopedia.com/articles/pf/05/020705.asp


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Multidimensional MoneyBy Lydia

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