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November 2, 2025
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Good morning! In today’s issue, we’ll dig into the all of the latest moves and highlight what they mean for you right now. Along the way, you’ll find insights you can put to work immediately
— Ryan Rincon, Founder at The Wealth Wagon Inc.
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Today’s Post
💳 How to Manage Debt and Credit Responsibly — Without Feeling Overwhelmed
Let’s be honest — debt gets a bad reputation. We hear words like interest, credit score, and payments and instantly tense up. But here’s the truth: debt isn’t always bad. Used wisely, it can actually build your wealth instead of breaking it.
Whether you’re juggling student loans, a mortgage, or just trying to manage your credit cards, this guide will help you take control — not feel controlled.
💡 Understanding “Good” vs. “Bad” Debt
Not all debt is created equal. Some debts can help you grow your future wealth, while others quietly drain it.
Good debt is an investment that’s likely to increase your net worth or income potential. Examples:
Student loans: Education can boost lifetime earnings.
Mortgages: Real estate often appreciates and builds equity.
Business loans: Help fund ventures that generate income.
Bad debt, on the other hand, doesn’t create value — it just funds consumption. Examples:
High-interest credit cards used for wants, not needs.
Payday or personal loans that snowball with massive interest.
Buy-now-pay-later traps for things that lose value instantly.
The rule of thumb: If it doesn’t make you money, improve your skills, or grow in value, it’s probably bad debt.
📊 Know Your Numbers (It’s Easier Than You Think)
Debt stress usually comes from uncertainty — not knowing how much you owe or what it costs you.
So the first step is getting clear.
Here’s how to take inventory:
List every debt — credit cards, student loans, car loans, mortgage, etc.
Write down:
The balance owed
The interest rate (APR)
The minimum payment
Rank them from highest interest to lowest.
Once you have it all on paper (or in a spreadsheet), it becomes a plan, not a mystery.
💥 Two Proven Payoff Strategies
When it comes to paying off debt, two popular methods dominate:
The Avalanche Method
Focus on paying off the highest-interest debt first while making minimum payments on others.
Mathematically, this saves you the most money over time.
Example: Credit card at 22% interest gets top priority over a 6% car loan.
The Snowball Method
Focus on the smallest balances first, regardless of interest.
Builds motivation as you see quick wins.
Psychologically satisfying — great for those who need momentum.
There’s no wrong choice — the “best” method is the one that keeps you consistent.
🧠 Credit Score: Your Financial Reputation
Think of your credit score as your adult report card for borrowing. It affects everything from getting a mortgage to the rate you pay for insurance.
Here’s what influences it:
35% – Payment history: Do you pay bills on time?
30% – Credit utilization: Keep your card balances below 30% of your limit.
15% – Credit history length: The longer your accounts stay open, the better.
10% – New credit inquiries: Too many “hard pulls” lower your score.
10% – Credit mix: Having a mix (credit cards, loans) can help.
A good rule: Always pay on time, and don’t close old cards unless necessary.
Tip: Set your cards to autopay minimums — then pay extra manually when you can. That way, you never miss a payment by accident.
💬 Dealing With Credit Card Debt
Credit cards are a double-edged sword. Used wisely, they build credit and earn rewards. Used poorly, they rack up interest faster than almost any other form of debt.
If your balances are rising, try these steps:
Stop adding new charges until you’ve made progress.
Call your card issuer — sometimes they’ll lower your APR if you ask.
Transfer high-interest debt to a 0% balance transfer card (if your credit is good).
Automate payments right after payday to avoid late fees.
And remember — paying only the minimum is a trap. If you owe $5,000 at 20% interest and pay the minimum each month, you could end up paying over $10,000 total before it’s gone.
⚖️ Borrowing Smart in the Future
Managing debt isn’t just about cleaning up the past — it’s also about making smarter moves going forward.
Before taking on new debt, ask yourself:
Will this improve my net worth or earning potential?
Can I comfortably afford the monthly payment?
Is there a cheaper or smarter alternative?
If the answer to #1 is “no,” and #2 is “barely,” walk away.
🧭 Final Thoughts: You’re the Boss, Not the Borrower
“Debt is a tool — use it wisely, or it’ll use you.”
Managing debt responsibly doesn’t mean living without credit. It means understanding the power behind it.
Pay on time. Track your balances. Prioritize high-interest loans.
And most importantly — don’t let debt define you.
Money is about control, not perfection. Every payment you make is one step closer to freedom.
The Wealth Wagon’s Other Newsletters:
The Wealth Wagon – Where it all began, from building wealth to making money – Subscribe
The AI Wagon – AI trends, tools, and insights – Subscribe
The Economic Wagon – Global markets and policy shifts – Subscribe
The Financial Wagon – Personal finance made simple – Subscribe
The Investment Wagon – Smart investing strategies – Subscribe
The Marketing Wagon – Growth and brand tactics – Subscribe
The Sales Wagon – Selling made strategic – Subscribe
The Startup Wagon – Build, scale, and grow – Subscribe
The Tech Wagon – Latest in tech and innovation – Subscribe
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That’s All For Today
I hope you enjoyed today’s issue of The Wealth Wagon. If you have any questions regarding today’s issue or future issues feel free to reply to this email and we will get back to you as soon as possible. Come back tomorrow for another great post. I hope to see you. 🤙
— Ryan Rincon, CEO and Founder at The Wealth Wagon Inc.
Disclaimer: This newsletter is for informational and educational purposes only and reflects the opinions of its editors and contributors. The content provided, including but not limited to real estate tips, stock market insights, business marketing strategies, and startup advice, is shared for general guidance and does not constitute financial, investment, real estate, legal, or business advice. We do not guarantee the accuracy, completeness, or reliability of any information provided. Past performance is not indicative of future results. All investment, real estate, and business decisions involve inherent risks, and readers are encouraged to perform their own due diligence and consult with qualified professionals before taking any action. This newsletter does not establish a fiduciary, advisory, or professional relationship between the publishers and readers.