Pay Off Debt FAST | The 4 Types of Debt

Pay Off Debt FAST | The 4 Types of Debt


You have to find the fastest way to pay off debt and stay out of debt!!! AJ covers the 4 types of debt we get ourselves into that can ruin our wealth building journey. The last one may not be all bad.

  1. Consumer Debt – This debt will eat your wealth and destroy your future. Any debt that is 100% avoidable is consumer debt.
  2. Emergency Debt – This debt is to be avoided at all costs. And is only acceptable if you ABSOLUTELY have no other options.
  3. Gamble Debt – Any debt used to try and gamble on a positive outcome. This could be debt used to buy stocks, make investments or actually gamble away. Your future is not worth risking on gambles.
  4. Leveraged Debt – This is debt used to purchase an appreciating asset such as a home. All the information and calculations need to take place to ensure this isn’t a gamble. Once you’re sure about your purchase decision, this is the only acceptable debt to take.


  • After attempting college, AJ joined the Marine Corps. When he left active duty, he worked in retail for a few years before returning to college. Several years later AJ was awarded his Bachelor in Science in Computer Science. Soon after, AJ began working in the tech industry as a Junior Developer. AJ continues to work in tech, however, he began to cultivate a passion for personal finance. For AJ, the concepts began to click and he felt a need to help others understand how to be financially free. If AJ can do it, any Idiot can.