Season 4 · Episode 175
175 – Which Debts Should You Pay First?
Debt Free in 30 · Doug Hoyes
January 6, 201817m 42s
Audio is streamed directly from the publisher (traffic.libsyn.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Because it's not the level of debt that causes the problem necessarily. It's whether or not you can service it. On show #174, we gave the example of someone with a $500,000 mortgage and 25-year amortization. If the interest on it went from 3.29% to 4.29%, the monthly payment would go from $2,400 to just over $2,700. That's about an 11% increase.
On today's show we discuss which debts should you pay first, and how to make that decision.