What is a “smart” financial choice? And how can an 18-year-old know what’s “smart” when making decisions that will impact them for years to come?
In this episode, Karisa shares how she got into $40K of debt by age 22. Here’s what you’ll hear:
- The various debts Karisa took on at a young age
- Her plan for being in debt long-term
- The psychological differences between ‘loan’ and ‘debt’
- What she wishes she had known when she was 18
Karisa shares that, “Most of my friends were in debt, and had to take out loans to pay for school. It felt not normal if you weren’t in debt.”
-Chi-En and the Goodbudget Team
- Debt Progress Report
- Reflection question: What’s something you’re spending, saving, or giving to that you might not be seeing clearly or looked full in the face? Maybe you need to think about the trade offs you’re making in your current budget or life in order to support that choice. Or maybe you need to think about the trade offs you’re making in your future budget or life. Let us know your thoughts in the comments below.
Music credit: Puzzle Pieces by Lee Rosevere