#23 Why You Should Go into Debt ft. Jake Vause
Jake Vause joins Grace today to discuss an unusual but well informed financial philosophy. After sharing his background in finances, they start off by looking at the effect social media is having on today’s financial culture. They note the role that differences in location and generation play (6:00), and why money is a socially taboo topic (13:40).
Next Jake explains loans (21:00) and “good” and “bad” credit (24:30). He leads us through specific scenarios to help us see how going into debt on smaller items helps us to not get stuck with huge debt on bigger items. (26:40)
Finally, we learn how credit scores actually works (38:40) and get a step by step guide to building credit (50:00). The three talk about being financially harmonious in marriage (63:45), and Jake gives us his closing thoughts (67:00).
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