debt payoff Archives - Empathic Finance

Was the student loan moratorium bad for borrowers?

Posted by Mike Pumphrey on June 12, 2023 | Featured

It’s hard to argue that the student loan payment moratorium was somehow bad for borrowers. But some economists are still trying. … Read More

Tags: debt, debt payoff, student loans

Past due: What to do when you’re behind on your debts

Posted by Mike Pumphrey on January 9, 2023 | Featured

Getting current with past due debts is one of the most urgent tasks for you to take care of, pretty much before you do anything else. I’ve talked about how to pay off debt. That’s that “debt snowball” thing you … Read More … Read More

Tags: arrears, collections, debt, debt payoff, past due

Why not keep your debt and use the cash flow?

Posted by Mike Pumphrey on December 19, 2022 | Featured

There is a school of thought that you can use leverage to create cash flow without ever needing to pay off debt. But there’s a small problem. I was recently listening to a radio show hosted by a real estate … Read More … Read More

Tags: cash flow, debt, debt free, debt payoff, investing

Beyond the Debt Snowball: Other ways to pay off debt (and are they worth it?)

Posted by Mike Pumphrey on November 15, 2021 | Featured

I look at some non-traditional methods of paying off debt to see if they are any better than the Debt Snowball method. The problem: you have multiple debts, all with varying amounts, interest rates, and payback timelines. Some are secured … Read More … Read More

Tags: debt, debt free, debt payoff, debt snowball

Can you imagine life without debt?

Posted by Mike Pumphrey on March 29, 2021 | Featured

Being able to envision what it would be like to be free from debt can help motivate you to take the steps necessary to make it a reality. For many, debt is a way of life. Or rather, it has … Read More … Read More

Tags: car loans, credit cards, debt, debt free, debt payoff, mindfulness, mortgages, student loans

You can’t pay off your debt until you do this first

Posted by Mike Pumphrey on February 1, 2021 | Featured

If you’re trying to pay off debt without making sure that you’ve done all the necessary work first, you’ll never make any progress. Debt looms large in our financial thoughts. For example, in a list of 50 hashtags in the … Read More … Read More

Tags: budget, budgeting, debt, debt payoff, debt snowball

How to pay off a $10,000 debt

Posted by Mike Pumphrey on October 12, 2020 | Featured

Paying off debt requires drive, focus, patience, and accountability. In this post I show how you can pay off a large debt. In a recent YouTube video, I talked about a hypothetical $10,000 debt. Now, for many people, this sort … Read More … Read More

Tags: debt, debt payoff, debt snowball

How to take advantage of a student loan payment freeze

Posted by Mike Pumphrey on August 24, 2020 | Featured

During the student loan payment and interest freeze, if you are able to make payments now, you’ll have a much greater impact on your loans. A lot of the benefits that were passed to ease the crisis for people dealing … Read More … Read More

Tags: debt, debt payoff, student loans

debt payoff