2654: Stupid Or Smart? (Getting A Loan To Pay Off Your Debt) by Philip Taylor of PT Money

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2654: Philip Taylor of PTMoney.com delves into the complex decision of using loans to pay off debt, offering a critical examination of various loan types and their implications. Taylor emphasizes the importance of addressing the underlying causes of debt and exploring self-managed debt reduction strategies, cautioning against the potential pitfalls of simply transferring debt through loans without solving the root financial behaviors. Read along with the original article(s) here: https://ptmoney.com/getting-a-loan-to-pay-off-debt/ Quotes to ponder: "Just because you can get a loan to pay off your debt, doesn’t mean you should." "People who consolidate debts this way often find themselves in dangerous levels of debt again." "Shortcuts might help you get out of debt quicker, but your habits will inevitably land you back in debt eventually." Episode references: Ramsey Solutions' Debt Snowball Calculator: https://www.ramseysolutions.com/debt/debt-calculator Calculator.net's Debt Payoff Calculator: https://www.calculator.net/debt-payoff-calculator.html Learn more about your ad choices. Visit megaphone.fm/adchoices

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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone. Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals. This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future. Listen now, and become an OLD friend--your optimal life awaits...