Crushing Debt

How well do you know your financial slang? How often do you use financial slang? Back in Episode 433, we discussed some new terms - HENRY (High Earner Not Rich Yet), ALICE (Asset Limited, Income Constrained, Employed) and DINK (Dual Income No Kids).  That got us to thinking, what other slang words are there? We have some of the common ones: Paycheck to paycheck FOMO (Fear Of Missing Out) YOLO (You...

What do you do after a storm or other natural disaster? Last week, Hurricana Helene impacted Florida, Georgia, Tennessee and the Carolinas. While the eye of the storm didn't directly hit Tampa Bay, this area suffered a tremendous amount of storm surge and flood damage. We hope that our listeners made it through the storm okay, but we recognize that many of our friends, family and listeners were no...

Where do you get your financial advice? TikTok or other social media? From a Financial Advisor, CPA, or attorney? From parents or friends? In this week's episode, Shawn & George take a look at some common tips that most people promote as financial advice. What can we debunk, what can we learn from, what is solid advice? Things like: Budget Get Out Of Debt Live on Less Than You Make Save Money What...

Who is H.E.N.R.Y.? Who is his friend A.L.I.C.E.? What are some signs that you might be dealing with a H.E.N.R.Y.? In 2003, Shawn Tully wrote an article for Fortune Magazine introducing us to H.E.N.R.Y. - High Earner Not Rich Yet.  This is someone who makes between $250,000 and $500,000 per year, but because of taxes, housing and family costs, basically lives paycheck to paycheck.  In this week's e...

What would you do if you lost it all? How would you recover after the crash of the market? In today's podcast espidose, Shawn & George talk to Kevin Bupp, a real estate investor, podcast host, and best-selling author.  Kevin had over one hundred single-family homes until the Great Recession in 2008, when he found himself in foreclosure and lost everything. Slowly, he rebuilt his financial life and...

George has been a co-host of the show for more than two years, but what the heck does he do? We know what a swing coach would do in golf, what a pitching coach would do in baseball, what a QB coach would do in football, even what a business coach would do for a business owner, but what does a financial coach do? On this week's episode Shawn & George discuss Financial Coaching. What it is and what...

What lessons would you tell your younger self? What lessons did you learn that you want to pass off to your kids? In this week's episode, George & Shawn talk about what they've learned that they can pass on to their kids, or things they might do differently if they could rewind time. Things like: Be intentional in your money decisions. Don't keep up with the Joneses. Have a plan or a budget. Money...

What is your favorite roller coaster? Are you a fan of wooden coasters? Thrill-ride coasters? Coasters that go upside down? Coasters contained totally inside? What is your favorite theme park? Would you take out a loan to fund your vacation? Would you fund your vacation with credit card debt? What are some money-saving techniques that you can implement to reduce the cost or expense of your vacatio...

What would you do if Money were no issue? What stage of life are you in currently, and how does that change your plan for your Money, how does that change your goals around Money, and how does that change how you think about Money? Are you ready to transform your financial future? After a one-week hiatus (sorry - summer vacations got in the way of recording), Shawn & George are back to talk to Sar...

Have you contributed to someone's GoFundMe? Have you helped a friend with a Kickstarter Campaign? What lessons can you learn from Skeletor? In this week's episode Shawn & George talk about Crowdsourcing or Crowdfunding. What are some things you can do to help, and what are some things you should avoid?  What are the various platforms available - although there are likely TONS more out there than w...

What is the biggest trap in real estate investing? How can you avoid it? What lessons can you take from what has happened to others in this scenario? In this week's episode, Shawn tells the unfortunate story of clients of his, and what happened to them happens more often than you would think. Imagine buying property at the Courthouse Auction. You think you've bought your dream home and, not only t...

Happy Fourth of July! What are some ways that you celebrate this, or any other holiday, and save money? On today's episode of the Crushing Debt Podcast, Shawn & George talk about a few different ways that you can celebrate a holiday without breaking the bank. We would love to hear your tips, or if we forgot anything. Please also visit our sponsors: Magic Mind - https://www.magicmind.com/CRUSHING20...

When do you tip? Do you tip based on the bill?  Pre-tax or post-tax? Do you increase or decrease your tip based on service?  What is the minimum or average tip you typically give? This week's episode is inspired by a listener / previous guest Sue Reynolds (you can hear her episode, 248, here: https://yesnerlawpodcast.libsyn.com/when-you-cant-pay-your-mortgage-episode-248) . Sue asked when and whet...

What is the secret to holistic success? How to get holistic success? What are the five E's to holistic success? This week's guest on the Crushing Debt Podcast is Jesse Johnson, Founder and CEO of Champion Empire. We talk to Jesse about his amazing story and why he does what he does. Jesse and his companies have helped his clients pay off over $5 million in personal debt, and increase their take-ho...

What in the heck does "Spaving" mean?  Should you buy the BOGO? Should you buy something just because it is on sale? Buy 3, get the fourth free - good deal or no? This is a week of returns for the Crushing Debt Podcast.  George is back after a one-week hiatus. And we welcome back a former sponsor - Magic Mind!  I'm sipping my Magic Mind as I post today's show. I drink it with my morning coffee and...

Do you enjoy paying taxes to the government? Do you want to keep more of your profit or gain from the sale of assets? Do you know the Tax Code Section, that has been in existence for a little more than 100 years to help (at first) farmers to defer gains on the sale of assets? This week's guest on the Crushing Debt Podcast is Dave Foster, a nationwide qualified intermediary for 1031 exchanges. Dave...

Can you spot a scam? Do you know when someone is trying to hack your accounts? Have you ever been a victim of fraud and how can you avoid it? This week's episode starts with a letter that Shawn received from the Social Security Administration. Shawn has been getting a lot of mail lately from the SSA because of benefits for his late wife. However, this letter was address to Shawn's son (red flag),...

This is a question I get quite often - "How much debt do I need to have in order to file bankruptcy?" The answer might surprise you - it depends! Are you self-employed? Have you had a drop in income? What type of debt do you have? Business debt? Medical? IRS? Typically, our answer is that you need to have more debt than you can repay over a reasonable period of time.  So someone with $30,000 in de...

What are the benefits of owning your commercial building? What are the drawbacks of owning your commercial building? Are you a small business owner, worried about how you're going to fit in your current lease space? Maybe it's too small, maybe it's too big, and maybe your space could provide an additional source of revenue to your business! Finally, what special milestone is the Crushing Debt Podc...

What factors make up your credit score? How does your score increase and decrease? What are some credit myths? What does FICO stand for? There are five factors that make up your credit score: Payment history (35%) Credit Utilization (30%) Length of Credit History (15%) Credit Mix (10%) New Credit (10%) In this week's episode, George and Shawn talk about your credit score, the way the five factors...

Where do you shop for everyday necessities? Can you save money by switching to an online shopping club? Can you save money by switching stores? Can you generate money by shopping? Can you use shopping to get out of debt? This week George and Shawn talk to Mark Roth with The Patriot Shopping Club. Mark works with the largest online shopping club in North America and can help you to save money and g...

How long would it take to pay off $141,000 in debt? How would you do it?  What would you do first? Is it okay to invest while still in debt? This week's guest is Amanda Sharratt.  Amanda and her husband found themselves in over $141,000 in debt from student loans, credit cards, and other obligations, and they PAID IT OFF in THREE YEARS!!  In this week's episode, we talk about how they got into deb...

Can you become debt free with just a few hundred dollars left at the end of the month? If you could eliminate the payment of interest, would that help you to be debt free? Would you want to be out of debt in five to ten years? How is the payment of debt more like a GPS than a paper map? This week, Shawn & George talk to Brian Nates and Tammy Gardner about the Money Max Account system of paying off...

What is the "Cash Stuffing" method? What is Home Equity Sharing, or a Home Equity Appreciation Agreement? Should you get a HELOC? How can you become a gazillionaire overnight? Are there any useful tips on Tik Tok? This week Shawn & George are reviewing advice from Tik Tok because, everything on the internet is true! In this week's episode, we play a clip from Tik Tok and then talk about whether th...

"Sign, sign, everywhere a sign." -Five Man Electrical Band What are the signs that you might need some financial help? What are some things to look for or listen for to determine whether you might want to talk to a financial coach? Signs that you might need to seek legal counsel? On this week's episode of the Crushing Debt Podcast, George and Shawn talk about the various signs that someone might n...