Episode 018

The Best Debt Elimination Strategies

In this episode, Luis talks about the best ways to eliminate consumer debt.

Luis came to the U.S. at age 11 from the Dominican Republic. Growing up in New York City, he noticed the lack of financial literacy in his community and was inspired by his parents to work hard and pursue an education. He founded Build a Better Financial Future LLC and is the host of the On My Way to Wealth podcast. Luis was named one of InvestmentNews 40 Under 40 in 2019 and Financial Advisor Magazine’s 10 Young Advisors to Watch. From participating as an FPA NexGen Ambassador, to speaking at the CFP Board’s Diversity Summit, Luis uses his platform to help spread financial literacy as well as encourage younger and diverse planners to join and thrive in the industry.

 

Notes:

In this episode, you’ll learn about the following:

  • Things to look out for when you consolidate debt
  • The Snowball method
  • The Avalanche method
  • When compound interest is your friend or foe

Resources: