140: Balancing Debt Repayment and Real Life with David Frank

How do you balance debt repayment with the rest of your financial life? In today’s episode, certified financial planner David Frank returns to the podcast to talk with Linzy about one of the most common and challenging questions among Money Skills for Therapists students: how to prioritize debt repayment without sacrificing quality of life. Linzy and David explore the emotional weight of debt, discussing how shame and societal expectations often shape our views on borrowing and repayment. David explains the key differences between simple and compound interest, laying out how to assess different types of debt and make more informed choices. He also offers a clear approach to calculating the real costs of debt and shares why overly complex financial advice can sometimes be a warning sign. Linzy and David emphasize the importance of finding a middle ground that aligns with your financial goals and personal well-being. Tune in to hear practical advice about how to take steps toward building a balanced and confident financial life. For a full transcript of the episode and much more, check out the blog post on our website! https://moneynutsandbolts.com/?p=16122 To watch a video version of this, check it out on YouTube: https://youtu.be/lRSBCcvC-nE  To tune into the coaching episodes Linzy mentioned related to paying down debt, see episode 114 with Jenet Dove and episode 88 with Erin Davis.  For more from David and Linzy, check out: 104: How Deep Work Can Enhance Your Business with David Frank 83: Embracing Emotions for Financial Wellness with David Frank Connect with David Frank David Frank has a lot of free resources & webinars on his website, like his training “Retirement Plans Fundamentals for Private Practice Owners”,  or his “Finance Quick Start Guide for Therapists”. Check those out here.  You can also find David on LinkedIn: https://www.linkedin.com/in/davidwfrank/  Mentioned in this episode: Check Out Relay for Business Banking Skip banking fees, minimum balances, and tedious bank visits. Start with the unicorn of all banks, Relay, my go-to money management and online banking platform. Signing up is free and takes under 10 minutes. Plus, if you use my link, you’ll get a $50 sign up bonus when you fund your new account. Sign Up for Relay Try Out Jane’s New Balance Plan Cover your EMR needs with Jane’s new Balance Plan: Access all your EMR essentials, including 1:1 telehealth, unlimited support, email reminders, and more. Plans start as low as $39 a month in the US and $54 a month in Canada. And if you do try Jane, don’t forget to use my code MNB1MO for a 1-month grace period on your new account. <a...