Is having zero debt the key to financial freedom, or could it hold you back? Expert Licensed Insolvency Trustees Doug and Ted explore the pros and cons of being completely debt-free, from psychological and financial benefits to the impact on your credit score and long-term opportunities.

(0:00) – Introduction: What does financial independence really mean?
(5:00) – Is Zero Debt a good goal for everyone?
(6:15) – The benefits of being debt-free: Psychological and financial impacts
(10:25) – The downside of Zero Debt: Credit score considerations
(13:30) – The hidden cost of Zero Debt: Opportunity costs explained
(17:00) – The role of credit: Why access to credit matters
(19:00) – Debt as a financial tool: When and how to use it wisely
(23:00) – Forget budgeting—why you need a financial plan instead
(28:00) – Setting realistic financial goals for long-term success

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Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.