Sep 17, 2024

Episode Three: Navigating Debt

Episode Three: Navigating Debt

In this episode, we delved into the complexities of debt and explored strategies to manage and reduce it effectively. Melissa and Nate discussed various types of debt, including credit card debt, student loans, and mortgages, and shared actionable advice for tackling them. Here’s a detailed summary of what was covered:

Good vs. Bad Debt

Understanding the distinction between good and bad debt is crucial for effective financial management:

Managing Credit Card Debt

Credit card debt can be particularly challenging:

Determining Affordable Debt

To manage debt responsibly:

Planning Affordable Vacations

Travel can be a tempting expense, but it’s important to plan carefully:

Debt Repayment Methods: Snowball vs. Avalanche

Choosing the right repayment method can impact your progress:

Balancing Debt Repayment with Long-Term Savings

Maintaining a balance between paying off debt and saving for future goals:

Melissa Dotson, CFP®, CSLP®

Financial Planning Associate

Melissa joined Narwhal in 2018 after completing her master’s degree in financial planning from the University of Georgia, where she also earned her bachelor’s in consumer economics. Her interest in the field began with a curiosity about how people make money decisions—and the emotions behind them. She earned her CFP® certification in 2021 and takes a financial therapy-informed approach to help clients find clarity, confidence, and direction in their financial lives.Melissa lives in Smyrna with her husband, Matt, their baby boy Emmett, and two dogs, Remi and Neely. Outside of work, she enjoys hiking and traveling with her family, practicing yoga, and soaking up slow moments at home.

Let’s start the conversation.

At Narwhal Capital Management, you’re more than just a portfolio, and it’s not all about the numbers. Let’s start with a meeting about your needs and future goals.