In this episode of The Get Out of Debt Guy Podcast, Steve Rhode — the original Get Out of Debt Guy — and co-host Damon Day dig into two big money topics you’ll want to hear. First, they tackle the controversial idea of a 50-year mortgage, explaining how a slightly smaller monthly payment could actually cost homeowners hundreds of thousands more over time — and why a 50-year adjustable-rate mortgage could be financial quicksand.

Then, they pivot from long-term debt to day-to-day savings, showing how you can use ChatGPT to shrink your grocery budget by turning what’s already in your kitchen into real meal plans. Plus, an entertaining Meaty Mamma update—because personal finance doesn’t always have to be serious to be smart.

Links:

💡 Read more at GetOutOfDebt.org

🎙 Connect with Damon at DamonDay.com

Steve Rhode — the old, original Get Out of Debt Guy — and the new Get Out of Debt Guy, Damon Day, break down the headlines behind AI, layoffs, and automation without the hype. If you’re worried about job security (especially in white-collar or repetitive roles) and you’re carrying debt, this episode gives you a calm, practical game plan: how to reskill, where to start with AI tools, and the exact money moves to protect your household if the pink slips start flying.

We cover:
• Why AI is a personal finance issue, not just a tech story
• What to do today to stay employable: upskilling, side income, networking
• Debt triage in an uncertain job market: cash buffer vs. extra payments, when consolidation, settlement, or bankruptcy makes sense
• Cutting burn rate fast, building an emergency fund, and avoiding 401(k) raids
• Real talk on gig work (short-term cushion), “safe jobs,” and becoming AI-augmented at work

Resources & help:
• Read more at GetOutOfDebt.org: https://getoutofdebt.org
• Get 1-on-1 coaching with Damon: DamonDay.com https://damonday.com

Steve Rhode — the original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — break down the real-world pros and cons of accepting a credit-card debt settlement. We explain why banks won’t deal early but suddenly send settlement letters before charge-off, how “settled for less than full balance” impacts your credit report, and what the IRS does with forgiven debt (hello, 1099-C). We also demystify IRS Form 982 (insolvency) — when it can eliminate income taxes on canceled debt, and why you might owe taxes once you’re no longer insolvent. Plus: timing mistakes to avoid, when bankruptcy may be cleaner than multi-year settlements, and how to build a plan that wins the war—not just one battle.

Explore more at https://getoutofdebt.org

Got questions or want a custom game plan? Damon can help: https://damonday.com