Is having zero debt the key to financial freedom, or could it hold you back? Expert Licensed Insolvency Trustees Doug and Ted explore the pros and cons of being completely debt-free, from psychological and financial benefits to the impact on your credit score and long-term opportunities.
(0:00) – Introduction: What does financial independence really mean?
(5:00) – Is Zero Debt a good goal for everyone?
(6:15) – The benefits of being debt-free: Psychological and financial impacts
(10:25) – The downside of Zero Debt: Credit score considerations
(13:30) – The hidden cost of Zero Debt: Opportunity costs explained
(17:00) – The role of credit: Why access to credit matters
(19:00) – Debt as a financial tool: When and how to use it wisely
(23:00) – Forget budgeting—why you need a financial plan instead
(28:00) – Setting realistic financial goals for long-term success
Read the FULL JOE DEBTOR CONSUMER INSOLVENCY STUDY 2024
How Much Debt Does It Take To File Bankruptcy?
Debt Repayment Calculator
https://www.hoyes.com/debt-repayment-calculator/
Debt To Income Ratio Calculator
https://www.hoyes.com/debt-to-income-ratio-calculator/
FREE Credit Rebuilding Course
https://www.hoyes.com/blog/category/credit-repair/
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
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