- Today we’re talking about the psychology of debt (1:02)
- Knowing something is bad for us isn’t always enough to stop us from doing it (2:12)
- Debt and health are directly linked (5:52)
- The average American has $5,700 of credit card debt (7:47)
- We incur debt when we don’t have a budget (12:12)
- We incur debt when we spend more than we make (14:14)
- Our debt grows when we don’t have enough cash flow for interest and expenses (17:16)
- Marriage problems can make debt worse (20:24)
- We struggle with debt when we don’t understand it (23:16)
- Don’t rob yourself of future stability (25:53)
“Most people fail to plan. They don’t have a budget, and they rely on intuition to regulate spending. ‘Should I be spending this? Eh, well I have a little bit of room.’ But they don’t know because they haven’t done a budget. And this is a really, really bad idea.”
Creators & Guests
What is The Fiscal Feminist?
Kimberlee Davis is your host of The Fiscal Feminist, a show about women and our relationship with money and finances. Kimberlee Davis is Managing Director and Partner at The Bahnsen Group, a private wealth management firm. She specializes in personal wealth advising and oversees financial and retirement planning solutions for high net worth individuals and multi-generational families. Her proficiency also includes helping individuals transition to financial independence after life altering events such as death or divorce.