Just a few years before he died, author David Foster Wallace gave a now-famous commencement speech at Kenyon College. Here’s a small snippet of what he said. “There are these two young fish swimming along and they happen to meet an older fish swimming the other way, who nods at them and says ‘Morning, boys. How’s the water?’ And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes ‘What the hell is water?’” Wallace then went on to argue that we tend to live our lives according to values and rules that are hard to see. Similarly, we live in a culture that pushes us to go into debt for everything! It’s the message we are constantly bombarded with – it’s the water we swim in. So on today’s episode we’re going to push back on that line of thought and give the real reasons we should all be striving to avoid debt.
Additional links from this episode:
- If you’ve found yourself in a tough situation with an overwhelming amount of debt, listen back to our conversation with Thomas Nitzsche, that’s episode 199.
- Also, check out debt snowball vs avalanche to learn about the different methods of paying down debt and which one might work best for you.
- If you’ve identified the approach that should work for you but you’re not getting anywhere, then be sure to check out the National Foundation for Credit Counseling, or NFCC for additional help. It’s always great to have an additional set of eyes on your situation to help you create a plan to pay down your debt.
- 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 or SoFi where you can easily compare the best loan options that are available to you.
During this episode we both enjoyed a EMO-J by Heist Brewery in Charlotte NC. And as we’ve kicked things off with a bang in 2021, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!
Best friends out!
Hello Matt,
I’ve not been really good at regular cleanings and have avoided the dentist because of costs for almost a decade. I heard your plight and have a suggestion. It could also be a topic to bring up later as well. Check out opencare to gain $50 for going to the dental office.
My experience is getting a gift card on my first visit (free with insurance) and then scheduling a later visit for less urgent oral maintenance (way lots more with HSA). My wife needed 3 appointments to qualify for the gift card so it would have been a discount, less than mine.