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Debt Jumped $769—Is Debt Consolidation My Next Move?

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Manage episode 503154527 series 3293447
Content provided by John Mendez. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by John Mendez or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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In this Road to Wealth update, I’m keeping it 100 about a tough month: my total debt went up by $769.76 since my last check-in, bringing me to $49,416.12 across personal and business cards.

I break down exactly where the balances sit today and why interest ate my progress.

I also walk through a real option I’m considering: a debt management program with Money Management International (MMI) that would drop my monthly payments from $1,590 to $1,214 in month one and $1,144 after—about $446/monthback in my pocket.

I talk through the trade-offs, like closing my cards (goodbye points and Marriott status… for now), but also slashing interest so more money actually hits principal.

You’ll hear my due-diligence process, the difference between consolidation loans vs. programs, how payments would be routed, and why I set a follow-up for August 15 before deciding.

If you’re in the trenches with credit cards, this episode gives you the numbers, the pros/cons, and the mindset I’m using to dig out—skills over status, progress over pride, and facts over feelings.

Support the show

HOW TO SUPPORT THE WALK 2 WEALTH PODCAST:
1. Subscribe, Rate, & Review us on Apple Podcasts, Spotify, YouTube, or your favorite podcast platform.
2. Share Episodes with your family, friends, and co-workers.
3. Whether you're just starting your business or your business is established, ChatGPT can help you take your business to the next level. Get Instant Access To My List of Top 10 ChatGPT Prompts To Save You Time, Energy, & Money: HTTPS://WWW.STOPANDSTARE.MEDIA/AI

  continue reading

298 episodes

Artwork
iconShare
 
Manage episode 503154527 series 3293447
Content provided by John Mendez. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by John Mendez or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Send us a text

In this Road to Wealth update, I’m keeping it 100 about a tough month: my total debt went up by $769.76 since my last check-in, bringing me to $49,416.12 across personal and business cards.

I break down exactly where the balances sit today and why interest ate my progress.

I also walk through a real option I’m considering: a debt management program with Money Management International (MMI) that would drop my monthly payments from $1,590 to $1,214 in month one and $1,144 after—about $446/monthback in my pocket.

I talk through the trade-offs, like closing my cards (goodbye points and Marriott status… for now), but also slashing interest so more money actually hits principal.

You’ll hear my due-diligence process, the difference between consolidation loans vs. programs, how payments would be routed, and why I set a follow-up for August 15 before deciding.

If you’re in the trenches with credit cards, this episode gives you the numbers, the pros/cons, and the mindset I’m using to dig out—skills over status, progress over pride, and facts over feelings.

Support the show

HOW TO SUPPORT THE WALK 2 WEALTH PODCAST:
1. Subscribe, Rate, & Review us on Apple Podcasts, Spotify, YouTube, or your favorite podcast platform.
2. Share Episodes with your family, friends, and co-workers.
3. Whether you're just starting your business or your business is established, ChatGPT can help you take your business to the next level. Get Instant Access To My List of Top 10 ChatGPT Prompts To Save You Time, Energy, & Money: HTTPS://WWW.STOPANDSTARE.MEDIA/AI

  continue reading

298 episodes

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