#15: How to Pay Off High-Interest Debt Without Burning Out
In this episode of Wealth Para Todos, host Rita-Soledad Fernández Paulino, a queer Mexican-American money and self-care coach, guides viewers through the emotional and strategic aspects of paying off debt.
Aimed at helping BIPOC, women, and LGBTQ+ communities, the episode emphasizes the importance of emotional readiness and self-trust in tackling debt. It provides actionable steps for prioritizing high-interest debt, maintaining financial stability, and celebrating small wins along the debt payoff journey.
Key takeaways include reframing debt, using the Avalanche method for payments, ensuring safety nets remain untouched, and integrating joy into the financial planning process.
00:00 Introduction to Wealth Para Todos
01:03 Understanding Emotional Readiness for Debt Payoff
02:00 Reframing Your Relationship with Debt
06:31 Strategies for Paying Off High-Interest Debt
08:08 Maintaining Financial Stability While Paying Off Debt
10:41 Tracking Progress and Celebrating Wins
14:30 Final Thoughts and Key Takeaways