Chain of Wealth - Debt, Investing, Entrepreneurship, Wealth & More
Business:Investing
Coming to terms with your debt is tough, very often you'll need to mentally prepare, The worst thing you can do it wait too long to take the first step.
[1:44] Finding out exactly how much debt you're in is absolutely critical as it's the first step in starting your financial future
● It's really great being able to help people and teaching them how to conquer their debts
● We're putting together debt destruction course that we're busy building, feel free to apply for the the scholarship!
● The fear of the unknown is what gets people
[4:36] Diving into Kate's debt plan to help people understand exactly what we're talking about
● When Kate moved in, after a few weeks the bills started rolling in
● Kate always thought nothing good ever came from checking the mail
● When they finally checked the mail Kate felt ashamed and didn't have the answers
● When the looked through all the information, after calculating everything in excel, we came up with Katie's number, it was about $200,000 worth of debt.
● When Kate realized how much debt she had she felt panicked and embarrassed
[9:56] 63% of American's can't afford a $1,000 emergency
● The reason people don't have money is because they're in debt.
● People end up paying significantly more money because of the interest cost, which doesn't seem like much.
● Kate could've paid $67,000 if she paid her $38,000 loan if she paid it off over the maximum term.
● It sucks when you have to split your paycheck between different bills.
● Sometimes you have to do what you have to do to overcome debt.
[15:00] It's really beneficial to conquer your debt as soon as possible
● Apply for our scholarship to win free access to the debt scholarship.
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