FYF 23: The 6 Types of Debt And What They Mean For You

Debt is the opposite of freedom. In fact, it is the biggest barrier holding most millennials back from finding their freedom and pursuing their ideal lives.

Becky explains why she thinks there’s no such thing as good debt (just better debt), ranks the types of debt from better to worse, and discusses options you can consider instead of accruing debt. 

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Listen to the episode on Apple Podcasts, Spotify, Stitcher, Castbox, or on your favorite podcast platform.

Today’s Topic

The 6 Types of Debt And What They Mean For You

With Becky from Twentyfree.co

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You’ll Learn

• What is debt?
• Alternatives to mortgage debt and car loans
• The absolute worst type of debt
• Why you should avoid & pay off debt ASAP

Resources

• Sources for most statistics can be found in this article
• Nerd Wallet’s American Household Credit Card Debt Study 2019
• Is Renting Better Than Buying? From Afford Anything
• No-Pay MBA
• Divorce inspired this woman to learn about money and she retired early

Source: Car Depreciation: How Much Have You Lost?

Related Section

Articles:

• Millenials in Debt: Ignore Outdated Advice and Become Debt Free
• What is Lifestyle Design?
• Emergency Fund FAQ
• Ultimate Guide to Paying Off Debt

Podcast

• Episode 7: Create a Life You Love: The Ultimate Guide to Lifestyle Design

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