The Rule of 72 is Einstein’s simple shortcut to figure out how long it takes for an interest-compounded value to double. On episode #345 of “Let’s Talk Money with Dave and Reb”, the co-hosts talk about how the Rule of 72 affects debt, and how it can be a motivator for us to get out of debt.
“Debt is a burden, not a sin,” Dave reminds listeners. “Borrowing can limit our giving if it leads to debt as well, but staying away from debt provides us with more freedom. Understanding the interest we pay and how it compounds can be a great catalyst for change.”
Tune in to today’s show which is sponsored by More Than Enough Financial—a financial coaching, tax, and mortgage company empowering people to find hope and freedom as they effectively manage their finances one day at a time. To order Reb’s e-book, audio book, or soft-cover copy of Cultivating Trust: Finding God’s Hope and Freedom for Your Finances, go to www.morethanenoughbooks.com or email info@morethanenough.ca, to arrange a pick-up from their Ottawa office.
To read more about today’s topic, you can read this article by Patricia Mayo: