Watching Trees Grow is a money and personal finance podcast for Gen Z. Grow your knowledge of finance and understand the consequences of your money choices.
This episode covers good debt versus bad debt. 18% of high school seniors will graduate having taken a personal finance course. 100% of high schools seniors will make personal financial decisions, which will include borrowing, budgeting and taking on debt.
How do you differentiate good debt from bad debt?
Are your debt decisions helping or hurting your long-term financial goals?
Gene talks about the importance of understanding the 4 main types of debt and ways that debt can be a helpful tool in your financial planning efforts.
Four types of debt make up 96% of US Household debt. These four are:
1) Mortgages
2) Student Loans
3) Auto Loans
4) Credit Card (outstanding balances)
The Federal Reserve Bank of New York maintains an interactive chart that breaks down Household debt in the US: https://www.newyorkfed.org/microeconomics/hhdc.html
Gene Natali's second book, The Missing Second Semester, dedicates a chapter of the book to this important topic. If 4 debt decisions make up 96% of Household debt in the US, let's focus on getting those 4 decisions right. Understanding good debt vs bad debt will help in your financial journey.
The Missing Second Semester: https://www.amazon.com/Missing-Second-Semester-combination-opportunity/dp/098553155X
Members of the Troutwood team are fact checking and asking questions behind the scenes in every episode.
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ABOUT Troutwood 👇
Troutwood provides investment and financial content that helps to remove the fear of finance and replace it with knowledge and confidence. Retirement in America is changing from employer directed to employee directed. Our objective is to help prepare individuals for this change. To help people learn to invest with understanding.
This channel allows us to share our passion for personal finance, the stock market, financial literacy, education, investing, and financial planning.
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