EP68 – Listeners share their biggest purchase regrets; $70,000 in credit card debt; How to deal with a toxic boss; Should I buy a franchise?

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What a great episode we have for you! We had a number of you write in your questions for us to give our opinions on. We will list those below. In our Savvy Savings segment our listeners shared their biggest (or largest) purchase regrets! Everything from a horse to an Instapot?

Questions on this episode include:


I am in over my head with CC debt ($70,000). I currently have $1,000 in savings and contribute 6% (was 12%) to 401K. Should I take the $1,000 and pay what I can, stop my 401K (my company matches 6% if you put in 6%? Should I consolidate my debt with an agency? I am currently on Baby Step 2.


If I have $21,000 in my savings and $20,000 in debt. Is it best to just pay all of my debt and build back up my 20K or keep making the monthly payments? May be a stupid question but I honestly don’t know…any suggestions?


How do you guys cope with toxic bosses? One minute I’m the best employee, then he’s calling me an idiot who is even lucky to have a job during covid. Sadly it pays well with really good benefits so leaving is hard. But everyday it’s yelling and cursing and name calling with him. I’ve never had a boss who treated me like this.


I see a chart floating around on social media showing a comparison of monthly residual income as compared to a bank account balance at 5%. I am so thankful for the residual income I have being only in my mid 40’s. Thought on this? Thank you!


After taxes, medical and other benefits, HSA, and 15% 401k contribution, almost half of my check is gone before I see it. In addition we are paying double on our mortgage each month in Baby Step 6. No wonder I feel broke! Please remind me how worth it this will all be in BS7.


I am 7 1/2 years from retirement and have been self employed in years past. I am looking to open a business in the meantime.  Are there any publications that you would recommend?  I am looking for ideas.  I would even consider a franchise.

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