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On today's episode I talk about the lies of Debt and Credit cards.

 The Year of Profit podcast, hosted by Joe Shortridge, is your go-to resource for transforming every aspect of your life. As a seasoned life and financial coach, Joe brings a unique blend of personal development and financial wisdom to each episode. This podcast is designed for anyone looking to improve their mindset, boost productivity, manage stress, and achieve financial success. Whether you're striving to overcome personal challenges, build better habits, or enhance your financial literacy, The Year of Profit offers actionable strategies to help you reach your goals.

Joe's expert advice covers a wide range of topics, from mental wellness and time management to wealth-building techniques and entrepreneurial mindset. Each episode provides listeners with practical steps they can immediately apply to their daily lives, leading to long-term growth and fulfillment. Through relatable stories and proven strategies, Joe empowers you to take control of your life, create positive change, and maximize your potential.

If you're ready to take your life to the next level and start living with purpose, The Year of Profit podcast is the perfect place to begin. Tune in each week for new insights, motivation, and inspiration to start your journey toward lasting success and well-being.

 

 

Debt—it's become as normal as waking up in the morning and brushing your teeth. But just because debt is "normal" doesn't mean it's good for you. The truth is, we hate debt around here because of all the problems it causes.

Debt robs your present and steals from your future. Debt keeps you stuck in a cycle that makes it impossible to build wealth. And debt can weigh you down so much you can't see a way out.

But even though debt comes with all that baggage, people still make all sorts of excuses for staying in debt instead of taking steps to become debt-free. And spoiler alert, all of them are bogus. Don't fall for any of these 12 lies that keep people in debt:

1. Lie: Debt is normal (or even helpful).

Like we said, it's totally normal to have debt hanging around your neck. Don't believe us? A shocking 77% of Americans have some type of debt—that's nearly 8 out of every 10 people!1 And how many times have you heard one of these money myths:

Avoid the traps and manage your money the right way with Financial Peace University.

You need to have a good credit score! (No, you don't.)

There are good debts—and tax benefits! (No, there really aren't.)

It's okay to have a car payment and student loans! (No, it's not.)

Those are straight-up lies about money that the toxic culture is shoving down our throats. What's so great about owing money to somebody? Nothing!

And if you think it's easy to stay on top of your debt, our research shows that 1 in 5 Americans have fallen deeper into debt since June of 2022. That's not staying on top. That's being buried alive.

Living in debt kills the American Dream. Don't you want to start living your dreams sooner?

Hey—here's some honest-to-goodness good news: You can! Seriously. Just be ready to be different. If being in debt is normal, choose to be weird.

2. Lie: I have plenty of time to plan for my financial future.

It's easy to tell yourself you have lots of time before you need to plan for your later years. But you shouldn't put off being responsible with money or building a secure future. And when you're in debt, you're doing both of those things. As you continue to pay for your past, you can't firm up your future—or even your present! 

Stop saying "one day" and start moving forward—today! That means following the 7 Baby Steps. Get yourself $1,000 in the bank as a starter emergency fund. Then use the debt snowball method to pay off your debt once and for all! You'll finally have your entire income back in your hands, to build security and wealth by saving up a full emergency fund, investing and paying off your mortgage.

Don't fall for the "I have plenty of time" lie. Start planning your financial future now so by Baby Step 7, you're living the life you've always wanted!

3. Lie: You don't make enough money to live debt-free.

Whether it takes you six months or six years, paying off your debt is possible no matter what your income looks like. Of course, making more money will help you get out of debt faster. The great news is, you can increase your income right now,

These days, the options are pretty endless for bringing in extra cash. You could get a side hustle by driving for Uber or Lyft. Or deliver food through Grubhub or DoorDash.

Don't have extra time? Go online and sell that extra television on Facebook Marketplace or Craigslist. Or dig through closets and sell unworn clothes on Poshmark or thredUP. You'll be clearing clutter and making money at the same time. A win-win!

Or maybe it's time to get bold enough to ask for a raise or spruce up your resumé and start looking for a higher-paying job. Don't let a few dollar signs come between you and being debt-free.

4. Lie: The sacrifices aren't worth it.

Sometimes it's not about making more—it's about spending less.

We know, it's hard to say no to eating at restaurants and going on vacation. But remember, it's just a short-term sacrifice for long-term financial peace. And a lifetime of freedom from debt is worth it!

So, ask yourself: What am I willing to give up now so I can get out of debt forever?

    Try a no-sp