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The Upgrade by Lifehacker

How to Get Out of Debt, With Personal Finance Expert Farnoosh Torabi (RECAST)

The Upgrade by Lifehacker

Lifehacker

Tech News, News, How To, Education, Self-improvement

4.6688 Ratings

🗓️ 15 March 2021

⏱️ 45 minutes

🧾️ Download transcript

Summary

On this episode of The Upgrade, we're tackling debt. Crippling, anxiety-inducing debt. It can be hard to know where to start when facing such a heavy burden. Fortunately, we got some help. First, hear Lifehacker staff writer Lisa Rowan answer Upgrade listener and Lifehacker reader-submitted questions about credit cards. Then, we're joined once again by personal finance expert Farnoosh Torabi, who coaches us on how to start to get a handle on debt.

Have an idea for a future episode? Call us at 347-687-8109 and leave a voicemail, or write to us at [email protected]. We want to hear from you!

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Transcript

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0:00.0

Hey, Upgrade listeners.

0:01.5

We've gotten a bunch of requests in recent weeks to address the topic of student debt.

0:05.8

So we thought it would be a good idea to bring you a recast this week of an episode from 2019 called How to Get Out of Debt with personal finance expert Farnoosh Tarabi.

0:16.2

We hope it's helpful and we'll be back next week with a brand new episode.

0:32.7

Music helpful and we'll be back next week with a brand new episode. Hello and welcome to The Upgrade, the podcast from the team at Life Hacker,

0:36.9

where we help you improve your life one week at a time.

0:39.9

I'm Melissa Kirsch, editor-in-chief of LifeHacker.

0:42.6

And I'm Alice Bradley, LifeHacker's deputy editor.

0:45.4

And today we're talking about how to get out of debt.

0:49.3

Truly, everyone's favorite topic.

0:51.0

It's such a fun topic.

0:53.1

So, Alice, according to a report last year from the Urban Institute, there were an estimated 71 million adults in the U.S. who had debt in collections.

1:02.1

That is unbelievable. That's a lot of people. That's a lot of people. Hopefully we can help at least some of them today with advice from a very smart friend of the show, Farnoosh to Robbie.

1:10.6

I think the first thing is

1:12.2

actually to not really obsess over the numbers and really take a step back and think about

1:17.6

what is the whole purpose of this. What will this afford you? Farnush is an author, podcaster,

1:25.5

and personal finance expert, and she joins us today on the upgrade to help us figure out how to conquer our debt.

1:30.9

Longtime upgrade listeners might also remember her from our episode back in April of this year when she taught us how to negotiate like a pro.

1:37.4

Yes, which is a skill which may actually come in handy when you're trying to get out of debt.

1:41.3

Very true.

1:42.1

But first, we're joined by Lifehacker staff writer Lisa Rowan,

1:45.2

who answers both upgrade listener questions

...

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