00:54 Should You Pay Your Debts Off Fast or Pay Them Slow?
Read the post for this podcast on our sister site: Getting Out from Going Under
Once again, I take exception with Dave Ramsey’s philosophy when it comes to compulsive spenders. I explain why revving your engines and going all in to get that debt paid off in record time just won’t work for true compulsive spenders.
00:00 The Podcast is Now on YouTube
Just to let you know, I’m starting to post some episodes on YouTube. What’s cool about it is that if you click on the time stamp, you can go right to that section. Still just the audio, but this way, if you get bored, you can just move right on to the next section! Click here to go to my YouTube channel.
02:42 Thoughts about my conversation with Lauren Greutman
Feedback from a listener shifted my perspective!
25:26 Lending Money
Thoughts on lending money when you are a compulsive spender, underearner, and/or debtor.
00:00 Segment: Handling Cash in Your Spending Plan
I talk about handling cash, which seems to confuse people when they first start working with a spending plan. The key is to think of cash as its own account and track cash transactions separately from your checking account. (See diagram below.)