Everyone's Talkin' Money

Debt Detox: Why Paying Off Debt Doesn’t Always Feel Like Freedom – Insights from Experian’s Rod Griffin

Listen Later

I’m joined by Rod Griffin, Senior Director of Public Education and Advocacy at Experian, to unpack some surprising insights from their latest survey on paying off debt.

You’d think paying down debt would instantly feel like a weight lifted – but for many, it’s not that simple. Rod shares why some people don’t feel that immediate impact and what you can do to make the most of your financial progress.

In this episode we discuss: 

  • The unexpected emotional disconnect some people experience after paying off debt.
  • Why a three-month period may be key to fully feeling the benefits of being debt-free.
  • How mindset shifts – not just willpower – are essential for staying out of debt.
  • Why having cash on hand might not prevent people from taking on more debt.
  • How social media can fuel unnecessary spending and financial pressure.
  • The concept of quiet debt and why so many people struggle to talk about it.
  • How open conversations about money can alleviate shame and guilt.
  • The critical difference between credit and debt – and why that distinction matters.

    • You’ll walk away knowing:

    • Paying off debt can have emotional benefits, but not everyone feels a significant change immediately.
    • A three-month period is often needed to fully feel the impact of paying off debt.
    • Mindset shifts are crucial for staying out of debt; willpower alone isn't enough.
    • Having cash on hand may not prevent people from taking on debt.
    • Social media can create pressure to keep up with others, leading to unnecessary spending.
    • Finding personal anchors and understanding true needs can help manage debt.
    • People are looking for ways to both reduce expenses and increase income to manage debt.
    • Quiet debt refers to hidden financial struggles that people often don't discuss.
    • Shame around money is common, but open conversations can relieve that pressure.
    • Credit and debt are different; understanding this can help manage finances better.

      • Follow the show so you never miss an episode, and keep the conversation going on Instagram @everyonestalkinmoney.

      Learn more about your ad choices. Visit megaphone.fm/adchoices

      ...more
      View all episodesView all episodes
      Download on the App Store
      Everyone's Talkin' MoneyBy Shari Rash, Money Podcast for Women, Personal Finance, Relationships & Mental Health
      • 4.2
      • 4.2
      • 4.2
      • 4.2
      • 4.2

      4.2

      622 ratings

      More shows like Everyone's Talkin' Money

      View all
      Money Girl by QuickAndDirtyTips.com

      Money Girl

      1,841 Listeners

      This Is Actually Happening by Wondery

      This Is Actually Happening

      10,359 Listeners

      The One You Feed by iHeartPodcasts

      The One You Feed

      2,505 Listeners

      Debt Free in 30 by Doug Hoyes

      Debt Free in 30

      69 Listeners

      So Money with Farnoosh Torabi by Farnoosh Torabi

      So Money with Farnoosh Torabi

      1,945 Listeners

      Afford Anything by Paula Pant | Cumulus Podcast Network

      Afford Anything

      3,519 Listeners

      The Vanished Podcast by Wondery

      The Vanished Podcast

      15,309 Listeners

      HerMoney with Jean Chatzky by Jean Chatzky Her Money

      HerMoney with Jean Chatzky

      1,426 Listeners

      The Clever Girls Know Podcast With Bola Sokunbi by Clever Girl Finance

      The Clever Girls Know Podcast With Bola Sokunbi

      861 Listeners

      American History Tellers by Wondery

      American History Tellers

      18,977 Listeners

      BiggerPockets Money Podcast by BiggerPockets

      BiggerPockets Money Podcast

      3,055 Listeners

      Business Wars by Wondery

      Business Wars

      12,803 Listeners

      Frugal Friends Podcast by iHeartPodcasts and Jen Smith & Jill Sirianni

      Frugal Friends Podcast

      1,190 Listeners

      Dr. Death by Wondery

      Dr. Death

      87,872 Listeners

      American Scandal by Wondery

      American Scandal

      18,830 Listeners

      DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing by Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen!, Bleav

      DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

      884 Listeners

      Get the Hell Out of Debt by Cloud10

      Get the Hell Out of Debt

      208 Listeners

      Dying For Sex by Wondery

      Dying For Sex

      13,266 Listeners

      The Personal Finance Podcast by Andrew Giancola

      The Personal Finance Podcast

      1,343 Listeners

      Guru: Don't Cross Kat by Wondery

      Guru: Don't Cross Kat

      7,006 Listeners

      Against The Odds by Wondery

      Against The Odds

      7,615 Listeners

      Money Rehab with Nicole Lapin by Money News Network

      Money Rehab with Nicole Lapin

      1,731 Listeners

      Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans by Vanessa and Shana | Budget Besties | Bougie On A Budget | Dave Ramsey Fans

      Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans

      236 Listeners

      Inspired Budget by Allison Baggerly

      Inspired Budget

      296 Listeners

      Budget Effect: How to Budget, How to Pay off Debt, Save Money, Live on a Budget, Improve your Money Mindset on a single income by Erin Britt | Budget Strategy Coach

      Budget Effect: How to Budget, How to Pay off Debt, Save Money, Live on a Budget, Improve your Money Mindset on a single income

      57 Listeners