8 Times When Debt Can Go So Wrong

8 Times When Debt Can Go So Wrong | Debt Free In 30 | A Personal Finance Podcast | Ep. 359. There are a lot of scenarios where borrowing makes sense: buying a home, a car, or paying for school. But if you don’t stop to think before borrowing, you can face some serious unintended consequences. Sure, that 8-year car loan seems affordable today, but what if you face reduced income or something happens to the car and you’re stuck with repayment? Would you still be able to afford it? On today’s podcast, guest Ted Michalos and Doug Hoyes go through eight borrowing scenarios and the potential problems that come with them, along with practical advice for each case. Tune in!

Links:

5 Debt Lessons Every Student Should Know https://www.hoyes.com/blog/5-debt-lessons-every-student-should-know/
How Car Loans and Car Loan Rollovers Lead to Insolvency https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/
Should You Get a Wedding Loan? https://www.hoyes.com/blog/should-you-get-a-wedding-loan/
Why Does Home Ownership Cause Financial Problems? https://www.hoyes.com/blog/why-does-home-ownership-cause-financial-problems/
What to Know About Credit Cards So You Use Credit Wisely: https://www.hoyes.com/blog/what-to-know-about-credit-cards-so-you-use-credit-wisely/
8 Alternatives to Payday Loans https://www.hoyes.com/blog/8-alternatives-to-payday-loans/

Time Stamps –

Unintended Consequences of:
1:42 Car Loans
5:01 Mortgage Loans
7:15 Credit Cards
8:33 Payday Loans
10:29 Student Loans
14:15 Wedding Loans
18:55 Borrowing to Invest
24:23 Borrowing to Start a Business

#DebtGoesWrong #WhenDebtGoesBad #BadDebt #Debt #DebtFree #DebtFreeIn30 #Podcast

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