BiggerPockets Money Podcast

266: Finance Friday: How to Pay Off Bad Debt + When Is Life Insurance Worth It?

14 Jan 2022

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Bad debt is more common than it seems. Many people you know have a car loan, personal loan, credit card loan, or some other form of high(er) interest debt. If you find yourself with bad debt, the first thing to do is formulate a plan to get rid of it, unless you want your savings and potential investments to suffer the consequences. Today’s guest, Stephanie is in a financially solid position, but she has some bad debt to take care of. She’s on her way to financial freedom by forty after already owning a home and having some retirement investments growing in the background. But, her $13,000 window loan at ten percent interest is causing leakage of investable cash flow. Yet, Stephanie may be in a better position than she thinks. Since buying her house, she’s seen a big increase in her property value, which may enable her to secure some lower interest financing to pay off her window loan. Scott and Mindy also help Stephanie develop an expense tracking plan, debate whether or not whole life insurance is worth it, and put her in the driver’s seat to become a cash-flowing landlord only a few short years down the road! In This Episode We Cover The importance of tracking your expenses and why every dollar needs its place Good debt vs. bad debt and how to know whether or not an interest rate is too high HELOCs (home equity lines of credit) and using them to pay off bad debt Whole life insurance vs. term life insurance and which makes more sense for you Whether or not that bathroom upgrade will have a positive ROI Becoming a financial expert slowly through podcasts, books, and enjoyable education And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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3ª PARTE | 17 DIC 2025 | EL PARTIDAZO DE COPE

01 Jan 1970

El Partidazo de COPE

13:00H | 21 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

12:00H | 21 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

10:00H | 21 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

13:00H | 20 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

12:00H | 20 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

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BiggerPockets Money Podcast

266: Finance Friday: How to Pay Off Bad Debt + When Is Life Insurance Worth It?

This episode hasn't been transcribed yet

Other recent transcribed episodes

3ª PARTE | 17 DIC 2025 | EL PARTIDAZO DE COPE

13:00H | 21 DIC 2025 | Fin de Semana

12:00H | 21 DIC 2025 | Fin de Semana

10:00H | 21 DIC 2025 | Fin de Semana

13:00H | 20 DIC 2025 | Fin de Semana

12:00H | 20 DIC 2025 | Fin de Semana

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