EP #124: Eliminating Your Debt with Todd Christensen
Your debt’s been paid! That’s a great feeling if you ever hear those words. Forbes reported that the United States federal student loan portfolio currently totals more than $1.6 trillion. Lending Tree said there’s $925 million of credit card debt in America. These statistics are staggering regardless of where you reside.
Today’s guest used to be part of those statistics. Now, he helps people avoid them. Making wise budgeting and investment decisions can help you avoid debt. But sometimes, you can’t avoid it completely. In that case, you may need to seek the advice of a professional counselor. Whether you’re in debt or not, Todd Christensen has an inspiring turnaround story that can help you manage your personal finances. In addition, you’ll also be inspired to a generous purpose with your money. It’s more than hoarding money. It’s building financial wealth to use it for good.
What You'll Learn In Today's Episode:
Todd’s early life debt issues
Todd’s experience with teaching kids about money
What it was like to pay off debt
The snowball and avalanche methods of debt repayment
Todd’s landslide and cascade method of debt repayment
Ways Todd’s credit counseling agency helps people
About the latest bankruptcy law
Todd’s professional experience
Todd’s experience as a counselor
The beauty of online courses
How MoneyFit works
The meaning of humanitarian causes
The importance of managing your finances to find your “enough”
Ideas Worth Sharing:
“When I was 21, I got my first credit card and maxed it out…and took about all of 36 hours to do it.” - Todd Christensen
“I was in debt for the rest of my 20s.” - Todd Christensen
“I thought I was going to be a professor.” - Todd Christensen
“Within a matter of weeks, I knew it was for me.” - Todd Christensen talking about teaching personal finance
“Kids still think you can build a house for a hundred dollars.” - Todd Christensen
“I would go into classrooms and tell them about the things you can do with money.” - Todd Christensen
“In second grade, they’re teaching needs and wants.” - Todd Christensen
“It’s never too young to start talking about money.” - Todd Christensen
“If you get money and all you know how to do is spend it, you’re going to spend it.” - Todd Christensen
“It’s a very liberating feeling.” - Todd Christensen speaking about paying off debt
“People come to us when they’ve tried to pay off their debts.” - Todd Christensen
“The most recent bankruptcy law requires filers to go see a credit counseling agency.” - Todd Christensen
“They were dumbfounded in a good way.” - Todd Christensen
“A lot of people think the credit system is against them.” - Todd Christensen
“It doesn’t mean no profit and it doesn’t mean volunteer only.” - Todd Christensen
“It can take a while.” - Todd Christensen speaking about starting a non-profit organization
“They bought a home two years after bankruptcy.” - Todd Christensen talking about some clients of his
“I would do 100-150 classes a year out in the community.” - Todd Christensen
“While I’m sleeping there are people taking my courses in Australia.” - Todd Christensen
“Money is a tool. If it’s always the goal, you’ll never be there.” - Todd Christensen
“Our goal is to be able to serve humanitarian missions.” - Todd Christensen
“When I was young, I didn’t know what my enough was.” - Todd Christensen
“Sometimes our toughest experiences can teach us the best.” - Bob DePasquale
“They didn’t trust me to jump over the hurdles.” - Bob DePasquale
“Those people are half nuts.” - Bob DePasquale speaking about poll vaulters
Resources In Today's Episode:
Money Fit - Website - LinkedIn - Facebook - Twitter - Pinterest
Bob’s Book - Personal Finance in a Public World
This week’s E-Impact Blog Entry
Episodes Referenced:
EP #98: The Four Things You Can Do With Money with Mac Gardner
