Do you remember the Seinfeld ‘car reservation’ episode? It’s one of the best. Jerry gets to the car rental counter and they don’t have a car for him. He says “See you know how to take a reservation, you just don’t know how to hold the reservation. And that’s really the most important part of the reservation, the holding!” That’s what we’re talking about today because you might know how to get out of debt, but do you know how to stay out of debt? You might find yourself digging out of debt every year when January rolls around. Holiday spending has a habit of sneaking up on most folks and you might be dealing with that financial hangover right now. Listen as we tackle concepts like lifestyle inflation, stoicism, accountability, and other practices that will allow us to kick debt to the curb for good.
- Seinfeld ‘car reservation’
- Use Undebt.it to help you figure out a get-outta-debt plan and listen back to episode 297 where we talked about the debt snowball vs the debt avalanche.
- For help with overwhelming debt, check out free services offered by the NFCC (National Foundation for Credit Counseling) and Money Management International.
- However, even after giving it your all and focusing like crazy, you may not have even put a dent in your debt levels if your interest rates are really high- that’s when a refinance might be a good option for you. If that’s the case, then be sure to check out Credible where you can easily compare the best loan options that are available to you.
- The Navy Federal Platinum Card offers a 0% balance transfer for 12 months- and the best part? There’s no balance transfer fee! Read our full article as to how it’s possible to utilize a 0% balance transfer credit card to help you pay off some debt.
- Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!
During this episode we enjoyed an Empress Rising Mole by Birds Fly South! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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