Get Out of Debt Guy | Smart Debt Solutions for Your Financial Freedom

Steve Rhode
  • 4.2 (30)
  • Self-Improvement
  • Updated Weekly

Welcome to the Get Out of Debt Podcast with Steve Rhode, your trusted source for practical debt solutions, budgeting tips, and effective money management strategies. Join us for real-world discussions on overcoming financial challenges. https://www.pinterest.com/getoutofdebtguy/ https://www.instagram.com/thegetoutofdebtguy/ https://bsky.app/profile/getoutofdebtguy.bsky.social https://www.facebook.com/GetOutOfDebtGuy/ https://x.com/getoutofdebtguy

  1. 2d ago

    Credit Card Debt, Hospital Bills & the “Just Get a Loan” Trap

    “If I could just get a loan, everything would be fine.” Sound familiar? Before you drain your 401(k) or sign up for another debt consolidation loan, let’s talk about what actually changes—and what could leave you right back in debt. Steve, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, tackle credit card debt, medical bills, and the expensive decisions people make when financial stress takes over. No lectures about being a bad person because you owe money. Just an honest conversation about getting out of debt without making your next problem bigger. In this episode, we discuss: Whether a parent’s nursing home bill could become your responsibility and what to watch for in admission paperwork.Hospital financial assistance and questions to ask before paying a medical bill.Class action settlement payments, refund scams, and finding unclaimed money.Old Military STAR Card debt and how it can come back to haunt your Social Security benefits.Why using retirement savings to pay off credit cards can create bigger problems.Living paycheck to paycheck on a six-figure income, lifestyle creep, and the rising cost of raising a family.Plus, a $30,000 hospital bill, expensive burritos, and the ongoing challenge of enjoying your life without financing all of it. Find more stories and debt help at GetOutOfDebt.org. Reach Damon at DamonDay.com.

    Credit Card Debt, Hospital Bills & the “Just Get a Loan” Trap

  2. Oct 1

    Look Broke for a Year or Stay Broke for 10? The Credit Card Debt Trap

    Would you rather look broke for a year or stay broke for the next decade? Before you answer, think about whose opinion you’re paying for with that car payment, those credit card bills, and the retirement savings you keep putting off. Steve, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, tackle the uncomfortable connection between keeping up appearances and staying in debt. We talk about why protecting your credit score can become more important than protecting your future, how minimum payments keep you stuck, and why dealing with financial trouble doesn’t make you a failure. We also get into spending plans, subscription creep, keeping a paid-off car, high-yield savings accounts, and taking an honest look at debt relief options, including bankruptcy and debt settlement. Plus, a conversation about refund scams and the devastating cost of fraud targeting older adults. Debt is math wrapped in emotion. You can’t change yesterday’s decisions, but you can stop letting them eat tomorrow’s retirement. Find Steve at GetOutOfDebt.org. Reach Damon for help with your financial situation at DamonDay.com. Get Steve's free weekday email at YourMoneyActually.com.

  3. Sep 24

    Budgets Suck: Debt Traps, Emergency Savings, and Keeping Up Appearances

    Budgets suck—and they usually don’t work. Steve Rhode and Damon Day discuss what matters more: cash flow, money left at the end of the month, and a realistic plan for saving and handling debt. They examine how debt settlement and credit counseling can hurt people living on Social Security or another fixed income, especially when monthly payments leave too little for food, medication, and other essentials. They also explore spending to impress people, predictable “emergencies” such as tires and home repairs, rising living costs, subscription creep, and whether gig work offers a dependable financial future. The bottom line is simple: stop living for other people’s approval, build protective savings, prepare for change, and make decisions based on your actual financial life. Find more practical debt help at GetOutOfDebt.org. To subscribe to Steve's free weekday email visit YourMoneyActually.com. To speak with Damon Day about your debt and financial options, visit DamonDay.com.

  4. Sep 17

    Are You Helping Your Kids—or Hurting Your Retirement? – The Money Choices That Cost Millions

    What if the everyday money decisions that feel completely normal are quietly costing you hundreds of thousands—or even millions—over your lifetime? You can get Steve's free weekday money email at YourMoneyActually.com Steve Rhode and Damon Day tackle the financial assumptions we rarely question: always having a car payment, buying more car than we need, co-signing for our kids, paying their expenses, and trying to make everything “fair” between siblings. They dig into the staggering long-term opportunity cost of car payments, why keeping a reliable older vehicle can dramatically change your financial future, and how seemingly small spending decisions compound over decades. Then things get personal. When should parents help their adult children—and when does helping become financially destructive? Should you pay for a car? Cover gas? Co-sign a loan? What happens when one child constantly needs financial help while the others don't? And is treating your children fairly really the same thing as treating them equally? Steve and Damon also explain why co-signing can be one of the most dangerous forms of financial help a parent can offer. Along the way, there are stories about cars, teenagers, expensive tires, credit, retirement, motorcycles, and the financial lessons Steve and Damon learned raising their own kids. The takeaway isn't that you should never spend money on your children or enjoy a nice car. It's that every dollar has more than one price: what you spend today and what that money could have become tomorrow. Before you automatically make the next car payment, co-sign the next loan, or reach for your wallet to rescue an adult child, this episode may give you a completely different way to think about the decision. Need help with your debt? Steve Rhode, The Get Out of Debt Guy:https://GetOutOfDebt.org Damon Day:https://DamonDay.com 🎙️ Get Out of Debt Guy with Steve Rhode and Damon Day — no shame, no fear, just real help.

  5. Sep 9

    Should Adult Kids Pay Rent—or Are You Sacrificing Your Retirement?

    Should adult children living at home pay rent? And if they do, should parents use that money for household expenses or quietly save it to help them later? Steve Rhode and Damon Day discuss the financial tightrope between helping grown children get ahead and protecting your own retirement savings. They tackle rising housing costs, family debt, the sandwich generation, and why parents must put on their own financial oxygen mask first. They also compare the real cost of owning a Tesla Model Y and Chevy Bolt, including repairs, charging costs, warranties, maintenance, and total cost of ownership. Plus, they touch on payday advance loans, gig work for quick income, college costs, and the risks of student loan debt. Find more practical debt help at https://getoutofdebt.org or free weekday newsletter https://yourmoneyactually.com Damon can be reached at https://damonday.com

  6. Sep 3

    Should You Stop Paying Credit Cards? – Why Banks Won’t Help Until You’re Behind

    What if the “responsible” thing you’re doing with your debt is actually making your situation worse? This week, Steve Rhode and Damon Day dig into one of the strangest realities of credit card debt: your bank may refuse to offer meaningful help until you’ve already fallen behind. That creates a brutal trap. People raid savings, drain retirement accounts, and keep making payments they can’t afford—all because missing a payment feels irresponsible. Then, once the money is gone and the payments finally stop, the creditor suddenly has hardship programs, settlement options, and different departments willing to talk. Steve and Damon explain why. In this episode: • Why calling your credit card company too early can sometimes work against your larger plan• What really changes when you're 30, 60, or more days behind• Why different departments at the same bank can give completely different answers• How creditors use delinquency as a signal that your hardship is real• Why protecting your credit score shouldn't necessarily be your top priority during a financial crisis• The danger of draining savings or retirement accounts just to remain current• Why debt settlement negotiations depend heavily on timing• How something you say to a creditor today could complicate negotiations later• Why simply threatening bankruptcy isn't the negotiating weapon people think it is• And why you should have a strategy before you start calling creditors or stop making payments Damon also shares a frustrating $50 credit card dispute that illustrates another lesson: not all credit cards provide the same customer experience when something goes wrong. Steve explains why he avoids using debit cards for purchases when a credit card can provide an additional layer between a disputed transaction and the cash sitting in your checking account. And near the end, Steve and Damon preview next week's discussion: How much should parents financially sacrifice for their adult children? College, co-signing loans, weddings, bailouts, retirement, inheritances, and the nearly impossible question of what's “fair” between siblings. The big takeaway from this episode isn't “stop paying your credit cards.” It's this: Don't make major debt decisions based solely on guilt, morality, fear of your credit score, or assumptions about how creditors work. Understand the game, know the consequences, and build a strategy first. Need help figuring out your own debt strategy? Visit DamonDay.com. For more straight answers about debt, credit, bankruptcy, and getting your financial life back, visit GetOutOfDebt.org. 🎙️ Get Out of Debt Guy with Steve Rhode and Damon Day — no shame, no fear, just real help.

  7. Aug 20

    Bankruptcy Isn't Failure—It's a Financial Tool | AI, College, and the Cost of Bad Money Decisions

    Is bankruptcy really a moral failure—or is it one of the smartest financial tools available when debt has become impossible? In this episode, Steve Rhode and Damon Day challenge some of the biggest myths surrounding bankruptcy and explain why making financial decisions based on fear, guilt, or bad advice can cost you far more than making an informed choice. They discuss why prioritizing the right bills matters, how to think strategically instead of emotionally, and why having a plan is often the difference between recovering and falling further behind. The conversation then shifts to artificial intelligence and its growing impact on higher education. As AI changes the workplace at an unprecedented pace, Steve and Damon ask whether today's expensive college degrees will deliver the return on investment students expect—and whether taking on six figures of student loan debt still makes financial sense. If you're struggling with debt, worried about bankruptcy, or trying to prepare yourself or your family for the financial realities of an AI-driven future, this episode offers practical advice designed to help you make better long-term decisions. Learn more about debt relief, bankruptcy, and personal finance at https://getoutofdebt.org. Need personal guidance on your debt options? Damon Day can help at https://damonday.com.

  8. Aug 13

    Your Debt Isn't the Problem—Your Plan Is | AI, College Costs, and Paying the Right Bills

    If you're feeling overwhelmed by debt, this episode is a reminder that panic is expensive—but having a plan can change everything. Steve Rhode and Damon Day discuss why bankruptcy is a financial tool rather than a moral failure, how to decide which bills deserve your attention first, and why trying to "keep everyone happy" with minimum payments often makes a bad situation worse. They also explain how building wealth starts with making strategic decisions instead of emotional ones. The conversation then shifts to one of the biggest financial changes on the horizon: artificial intelligence. Steve and Damon explore how AI is changing the value of a college degree, what that means for future careers, and why taking on massive student loan debt could become an even riskier decision in the years ahead. Whether you're buried in credit card debt, wondering if bankruptcy makes sense, or trying to help your kids avoid costly financial mistakes, this episode offers practical guidance without the judgment. Learn more about debt relief, bankruptcy, debt settlement, and personal finance at https://getoutofdebt.org. Need help evaluating your debt options? Reach Damon Day at https://damonday.com.

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Welcome to the Get Out of Debt Podcast with Steve Rhode, your trusted source for practical debt solutions, budgeting tips, and effective money management strategies. Join us for real-world discussions on overcoming financial challenges. https://www.pinterest.com/getoutofdebtguy/ https://www.instagram.com/thegetoutofdebtguy/ https://bsky.app/profile/getoutofdebtguy.bsky.social https://www.facebook.com/GetOutOfDebtGuy/ https://x.com/getoutofdebtguy

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