Shred Method for Getting Out of Debt (with Adam Carroll)

Mortgages have become a part of American life as much as the American dream. For most people, homeownership comes with 15 to 30 years of monthly payments and thousands of dollars of interest paid to banks. My guest is here to share some ideas for other ways to get out of debt. Using the Shred Method, Adam Carroll paid off his home in record time saving over $180,000 in interest in the process.

Adam Carroll has published four books, produced an award-winning documentary on student loan debt, has a TED talk with over 5 million views and helps people achieve true financial freedom in their lives. More than financial freedom, Adam is all about helping people achieve time freedom, relationship freedom, and service freedom.

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Shred Method Episode Details

• When Adam decided to start addressing his debt
• What the Shred method is and how it works
• What an Australian mortgage is
• How to prevent more debt after using the Shred method if you’re challenged with budget discipline
• Is the Shred Method just for mortgages
• How this method will work for military families who move more often
• How Home Equity Line of Credits (HELOCs) come into play
• The most efficient place for your money
• Why the U.S. doesn’t follow the Australian method
• Who the Shred Method is not for
• What it means to own your income
• The first steps to Shredding your debt
• Common mistakes made with getting out of debt

More on debt: Get Yourself Out of Debt

Shred Method Resources

• The Shred Method
• Smart Couples Finish Rich by David Bach
• Asana
• Voxer
• A Happy Pocket Full of Money by David Cameron Gikandi

More on getting out of debt: Budgeting & Money Management Basics

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Want to learn more about personal finance in the military? Check out our latest blog posts below.