What If I Have Too Much Debt to Set a Financial Finish Line?

Finish Line Podcast co-hosts Cody and Kealan Hobelmann explore how a financial finish line can still work when you are carrying existing debt. Rather than waiting until every loan is gone, they suggest defining your finish line as if unsecured debts such as student loans or old credit card balances were already paid off, then using the margin above that line to address debt intentionally.

They explain how that margin can be divided among three priorities: accelerated debt repayment, retirement savings, and generosity. Cody shares how he and Steph eventually adopted a temporary “soft finish line,” choosing to live below their ultimate spending limit so they could eliminate debt faster while continuing to give to causes they cared about.

The conversation also distinguishes secured and unsecured debt and explores practical repayment strategies such as the debt snowball and prioritizing higher-interest balances. You may come away seeing debt not as a reason to delay your finish line, but as something that can be incorporated into a thoughtful plan toward greater financial freedom and generosity.