Episode 31: How Do Bank Loans Work?

In this episode, we ask: What is debt? What are some of the common judgement calls about debt? What are some religious thoughts around debt? What did Solomon say about power? What is the year of Jubilee? Does debt lead to intergenerational slavery? Are you more likely to be in debt if your parents are...

In this episode, we ask:

What is debt?
What are some of the common judgement calls about debt?
What are some religious thoughts around debt?
What did Solomon say about power?
What is the year of Jubilee?
Does debt lead to intergenerational slavery?
Are you more likely to be in debt if your parents are / were in debt?
Is debt evil?
Can debt cause trouble?
How can you severely limit your options?
Should we avoid all debt? Is it a black and white scenario?
What kind of debts do typical Americans carry?
How many people know that the first credit card wasn’t issued until 1951? How did people survive before 1951?
What is the average credit card balance and percentage?
Why is credit card debt so nasty?
By how much has Student Loan debt surpassed Credit Card debt?
How many people are supposed to be paying 100% in their annual salary to student loan debt?
What are some of the gotchas with student loan debt?
What are the implications for parents who have cosigned loans on their child’s debt?
Can you bankrupt student loans?
What about mortgage debt?
What is a good rule of thumb for housing costs?
Why can’t people save?
Why can’t people afford things?
What’s in the fine print?
Who can provide a second set of eyes for you, when you encounter fine print?
What about car loans?
Is vehicle debt going up or down?
How long does it take to pay these loans off?
What is the average savings rate?
What about vacations?
Why don’t most financial planners have a plan for life’s cashflow?
Why do you have to pay a bunch of penalties and taxes to access money?
Why do most financial advisors suggest that you eat rice and beans?
Why do financial advisors say to “not touch your money”?
Why are we forced into this crazy cycle where everyone is benefitting from your money but you?
How much cash will flow through your accounts in your life?
How will you work with your cash flow?
Can you avoid buying stuff?
Can you find a way to have uninterrupted compound growth and still be able to afford the stuff of life?
What is the bank doing with your money?
How do banks do more than one thing at a time with a dollar?
What is fractional reserve banking?
How do banks find the money for loans?
How do the banks get so wealthy?
How do you learn from the banks to harness your personal cash flow?