When you finally decide to pay off your debt, you want that debt to be gone immediately.

But there are a few ways to get out of debt that will actually leave you in a worse financial

situation than where you started. So today, I'm warning you about some of the worst ways to pay off debt

so you can steer clear of these common mistakes and do it the right, effective way. Now,

before we jump in, make sure to subscribe and share this episode with a friend so they can avoid

these traps as well. All right, the first mistake I see a lot is shuffling debt around. So listen, you're not addressing

the root issue when you're doing this. And a lot of people just move their debt around because,

you know, for different reasons, and we'll talk about those. But the point here is that just

because you're shifting numbers around doesn't mean that your behavior is changing. And always

remember, when it comes to personal finance, your behavior change is what's going to take you into the future long term of

winning with money. It's not going to be the math. It is you and your behaviors and your rhythms and

your habits around money. So when you're shuffling money around, you're just prolonging the issue

by just taking on different kinds of debt. So there's really five ways

people do this. Number one is debt consolidation. And so it sounds great because again, people go after

the interest rate and they say, well, we can consolidate all your debt in this lower interest rate.

And while mathematically, that's great. What ends up happening is a lot of these companies end up

charging extra fees. And sometimes if you don't pay in the right way

and the payment plan and all of it, you get yourself in a bigger mess. And so you're putting a third

party into your financial life, and you don't need to do that. Because again, the interest rate isn't

your issue. Your issue is the idea that, you know, going into debt and then now paying it off.

And again, debt consolidation, the only time, you know, going into debt and then now paying it off. And again,

debt consolidation, the only time, only time I would look into it is with student loans. And that's about it because, again, people use debt consolidation with other types of consumer debt,

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