#26: How to Pay Off Debt Strategically with the P.A.I.D. Off Method

In this episode of Wealth Para Todos, host Rita-Soledad Fernandez Paulino shares their P.A.I.D. off method to help Black, Indigenous, people of color, women, and LGBTQ+ folks confidently manage and pay off debt sustainably.

Soledad emphasizes the importance of leveraging debt strategically without sacrificing wellness. The P.A.I.D. off method involves four key steps: Pulling your credit report, Assessing your cash flow, Intentionally choosing your payoff focus, and Determining your debt-free date.

They highlight why this method is essential for building foundational debt management skills, transforming your relationship with debt, and ensuring financial decisions align with long-term goals.

Soledad also addresses common struggles and offers compassionate guidance for first-generation wealth builders, reaffirming the importance of financial literacy and self-care in achieving financial security.

00:00 Introduction to Wealth Para Todos

00:21 The Importance of Debt Management

00:52 Introducing the P.A.I.D. Off Method

03:58 Step 1: Pull Your Credit Report

05:00 Step 2: Assess Your Cash Flow

06:46 Step 3: Intentionally Choose Your Payoff Focus

07:46 Step 4: Determine Your Debt-Free Date

10:02 Overcoming Challenges in Debt Management

12:31 Final Thoughts and Next Steps

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