Friends With Money #266: Deal with your debt
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Debt can help fund life's big purchases. But for some, it can become a major source of financial stress.
So where should people start if they want to get on top of it?
On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Deb Shroot, financial counsellor and Financial Counselling Australia sector advocate, to discuss prioritising debt, freeing up cash flow and working towards becoming debt free.
Episode timestamps
00:00 Introduction
02:00 Rising debt stress: mortgages, credit cards and utilities
03:00 First steps when debt feels overwhelming
04:30 How to prioritise multiple debts
07:00 The danger of the debt spiral
08:00 Common debt repayment mistakes and hardship options
09:00 Where to find extra money in a tight budget
12:00 Why you should seek help before reaching breaking point
14:00 Building healthy financial habits that last
15:00 Seeking trustworthy financial advice
16:05 Conclusion
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Friends With Money podcast FAQ
What is the Friends With Money podcast?
Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.
Where can I listen to the podcast?
You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).
Who hosts Friends With Money?
Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.
Is the podcast suitable for beginners?
Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.
What topics does the podcast cover?
The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.
How often are new episodes released?
New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.
Can I watch episodes with captions?
Yes, full episodes with closed captions are available on YouTube.
Why subscribe to the Friends With Money podcast?
Boost your financial literacy anytime, anywhere with the Friends With Money podcast from Money magazine. Whether you're commuting, working out, or relaxing at home, this weekly podcast makes it easy to grow your money knowledge on the go.
Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.
Subscribe to the Friends With Money podcast today and start learning when it suits you.
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