When you have debt, it literally means that you owe money. So we all know that debt comes at a price.

But debt also comes with some hidden costs that we don't talk about enough. So today, I want to

explain the true price of debt, not only from a financial perspective, but also from a mental,

physical, and psychological place as well. And stay tuned because at the end, I will be sharing

one question that can kickstart your debt payoff progress once and for all. But first,

make sure to subscribe and share this episode with a friend. Okay, let's start with these numbers.

And since a hundred million Americans have a car payment, let's start there. As of late

2024, the average monthly car payment for new cars reached $730. And using our Ramsey investment

calculator, if you were to invest $730 a month from age 30 to age 65 at retirement, you'd have nearly $2.8 million.

And that doesn't even include interest, which is currently at about 6 to 7% on top of the $ hundred and thirty dollars so you guys it is wild

with debt when you look at it from a mathematical perspective it's insane like it is insane

how much money we are giving to other people versus keeping it for ourselves and being able to

invest and build wealth or to be generous or to spend it with our family.

But in this episode, we're not going to talk about the math. We're also going to talk about the

hidden price that you pay with living with debt. So let's just kind of unpack some of this.

So number one, debt is a thief because debt not only steals your income from you, but it steals

your peace of minds.

And once you view it as, yeah, this is taking something from me, it can really change your

entire perspective. And we say your peace of mind because this is so real, like the amount of

stress that people are under, the amount of lack of sleep, you know, loss of sleep that they

lose because of that stress,

it continues to compound. And what's so difficult is when you owe someone something,

...