Debt Payoff with Fexingo: Credit Cards, Student Loans, and Getting Out of Debt

Lucas and Luna break down the brutal math behind minimum credit card payments. Using the example of a $5,000 balance at 18 percent APR, Lucas shows how paying only the minimum can stretch a debt into 25 years of payments costing over $11,000 in interest. They discuss how issuers recalculate minimums, why the 'minimum due' triggers a psychological trap, and a simple mental trick to break free: the...

Lucas and Luna dig into the hidden costs of balance transfer credit cards. Using a concrete example—$8,500 in credit card debt at 22% APR—they calculate exactly how a 3% or 5% balance transfer fee eats into your savings and can leave you worse off if you don't pay off the balance before the promotional period ends. They walk through the math step by step, explain why the average American carries d...

Lucas and Luna unpack the math behind the debt avalanche method and why most people still default to the snowball approach. Lucas walks through a concrete example: a listener with $16,000 in total debt across four accounts, comparing total interest paid under both strategies. They discuss the behavioral science — how small wins keep people motivated — and whether the avalanche method actually save...

In the debut episode of Debt Payoff with Fexingo, Lucas and Luna tackle a startling statistic: 45% of U.S. households carry credit card debt, with an average balance of nearly $8,000. They zoom in on one real-world case: a listener named Jen, a 32-year-old marketing manager in Columbus, Ohio, who owes $14,800 across three cards. Lucas walks through how to prioritize payments using the avalanche me...