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Financial Lessons That I Hope to Teach My Daughter

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financial lessons

This year is my first year celebrating Mother’s Day as a mom. My eight-month-old baby girl amazes me every single day. As she gets older, I keep thinking about the things I’d really like to teach her, especially where money is concerned.

Financial Lessons My Mom Taught Me

When I think about the things I’d like to teach my daughter I always think about all the things my mom taught me that I carry through my life. One of the biggest lessons I learned from her regarding finances is that there is always more money to be made. Mom hustled a lot while I was growing up. She’s always worked a full-time job and played in multiple orchestras as a violinist. It meant she was gone a bit from October through May, but she made things happen.

I also learned that managing your finances is difficult. As a kid, I was aware of our money struggles. I watched my mom sell a number of her prized possessions so that we could pay our mortgage. We had cars repossessed (my parents would park it in the road and go get another before it hit their credit). Eventually, we lost our home too. At the end of it all though, we were alright. We made things work, we survived.

In our home now, until recently, we were still living paycheck to paycheck. Still, a very small upheaval could cause a big problem in our lives financially. While my mom taught me that money isn’t the end-all-be-all, I entered adulthood still lacking some basic personal finance skills.

What I’d Like to Teach My Daughter

Similar to how my mom taught me that there’s always more money, I’d like to instill in my daughter that money truly isn’t everything. While it is a necessity in the world, it shouldn’t be what you center your life around. Make money, manage it wisely, and life your live to the fullest.

At the same time, I’d like to teach her some of the things I’d wish I’d known. For example, I would like to help her understand budgeting. I’d also like to help her understand loans, interest rates, and debt. I took on a lot of debt as a young adult that I would’ve probably avoided if I had some additional guidance. As I’ve mentioned here on the blog before, I’d like to be able to set up a savings account for her education and set her up for success.

That said, my mom did such a good job. I was aware of our finances and knew that money was an aspect of life, something most kids aren’t able to wrap their brains around.

Closing Thoughts

Moms are special people. If you are a mom celebrating Mother’s Day this weekend, remember that you are making a huge impact on the world. Everything you’re doing is making a lasting impact on your kids. Most of all, you’re doing a good job.

Happy Mother’s Day!

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My Favorite Personal Finance TikToks To Follow

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TikTok

If you’re like me, you’ve been slow to come around to the TikTok craze. Slowly but surely, however, my husband and friends have lured me over to the dark side. Now, every once in a while, I catch myself having spent the last half hour mindlessly scrolling on TikTok. While there are a lot of dance videos and silly content out there, TikTok actually has a few opportunities for people to learn.

For my husband, those learning opportunities present themselves in the form of conspiracy theorists and the investigative types on the platform. For me, I am amazed at the amount of financial advice and information being shared for free. That said, here are some of my favorite finance TikToks that you should consider following.

No Budget Babe

The most inspiring thing about Nicole Victoria, the No Budget Babe, is that she is around my age. She’s has been prepping for the arrival of her newborn secretly (she actually revealed that she was pregnant to her followers more recently). Nicole’s TikTok page is fairly simple. She hops on and gives you a quick reality check about your money. News flash: you are in complete control of your financial future. Best of all, Nicole is a proven success story. She’s already got a net worth of $1 million and completely paid off all of her debt, totaling around $40K.

 

@nobudgetbabe Reply to @_ro16_ ♬ original sound – Nicole Victoria | Money Coach

SaveLiveThrive

SaveLiveThrive is run by a woman named Charlotte. She is a financial coach. Her main focus is on helping women better understand their finances. In her bio, she states her videos are for education only, not advice. That being said, her story and mission are pretty inspirational. Charlotte got out of a toxic relationship in her early 20s, similar to myself, even though leaving hurt her financially. Her experience prompted her to help educate other women about how they can become financially independent. A lot of her posts are informative, but she also shares relatable content like this.

 

@savelivethrive My mom is actually one of my biggest financial role models, but this is definitely a toxic habit that stuck with me for awhile 😅#moneyhabits #moneyscripts ♬ original sound – Cub

InspiredBudget

Allison Baggerly, known by her handle @inspiredbudget online, is another great person to follow on TikTok and anywhere else you exist on social media. She shares some great tips about getting your budget on track and also shares her own budgeting story. As we all know, creating and sticking to a budget is one of the most difficult parts of managing your finances. Allison makes it easier to understand with her content and doesn’t belittle anyone for not already having their s*** together. Best of all, everything is simple and straightforward. Check her out below!

 

@inspiredbudget Just try one! #budgeting #budgetlife #budgetlifehack #budgetingtips #debtfreejourney #debtfreecommunity #budgetbinder #budgettok #personalfinance ♬ original sound – Allison Baggerly

Who are your favorite TikTokers in the finance world? Link them below!

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Your Family Home Needs a Deep Spring Cleaning – Here’s Why

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Deep spring cleaning is an integral part of your routine property maintenance tasks. It highlights the thorough cleaning of your home. Ideally, frequent spring cleaning will help ensure your property remains appealing, structurally sound, and hygienic. Its objective is to degrease, vacuum, polish, mop, and wipe different surfaces. Using professional services will ensure that you get premium-quality results. The following are the top reasons to consider deep spring cleaning for your family home.

Avoid Allergens

Statistics show that approximately 10% of U.S. households paid for comprehensive house cleaning services last year. You could attribute this to how conscious families are about their health. Hiring professionals for deep spring cleaning translates to less exposure to allergens within your home.

Professionals will help remove various allergens within your space. They will use different methods to achieve this goal, from steaming and vacuuming to dusting and moping. Whichever way they use, they will remove dust, mold spores, pollen, dust mites, and dander in the household. The goal is to cushion you against costly medical care in the long run.

Keep the Plumbing System In Check

Your plumbing system can significantly affect the health and comfort of your household. Keeping it in check will help you avoid stench and health issues. The plumbing system will likely accumulate debris, grease, and dirt over time, making it dysfunctional in the long run. Various signs show a dysfunctional system, including stench and water flooding in the house.

Notably, experts from the plumbing industry posit that you should clean grease traps once the volume of the grease hits the 25% mark. Usually, the other 75% is occupied by water. Unfortunately, you might not comfortably address this issue. Relying on a professional assures you of better results. These professionals have the required skills, expertise, equipment, and experience to handle the task smoothly.

Improve Indoor Air Quality

Suppose you want to improve the air quality within your home. In that case, investing in deep spring cleaning would be a perfect solution. Professional spring cleaning will significantly improve your indoor air quality, ensuring that you are relaxed and healthier in the long run. Cleaning achieves excellent air quality in various ways.

First, spring cleaning helps eliminate dust particles within your room. It will also help remove the stench and allergens within the environment. Removing these elements will help reduce eye irritation, sneezing, coughing, and hay fever. You will also avoid asthma attacks.

In addition, spring cleaning will remove the bacteria, pathogens, and viruses within the environment. This move assures you of healthier breathing air. Spring cleaning will also help ward off pests. Rodents and bugs might sneak into your space, mainly if it is dirty. These pests will find a home in your kitchen if it has crumbs. Fortunately, excellent spring cleaning will help get rid of them.

Extended Home Lifespan

Cleaning your home is associated with enhanced property lifespan. Since your home is an expensive asset, you will want to take the best care of it. Frequent maintenance practices will ensure that you get the most out of it. This maintenance will help keep the structural integrity of your property in check.

Deep spring cleaning takes care of various surfaces, from fittings and fixtures to wood flooring and carpets. Adequate care of these elements will ensure that your home lasts long. That is because it will help avoid molds, mildew, and dust on the surface. Dirt attracts pests, molds, and bacteria that will eat away from your surfaces, resulting in a limited lifespan.

At the same time, you can rely on deep spring cleaning to improve your curb appeal. An attractive curb can help enhance the value of your family property in the long run.

Professional deep spring cleaning is essential in your home. Yet, you must invest in a reliable professional to handle the process, assuring you of incredible results in the long run. This way, you can be sure of the benefits above.

3 Advantages of Being Debt-Free

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advantages of being debt-free

If you have ever lived paycheck to paycheck you know it is no cakewalk. Oftentimes, people are living this way because they don’t have all of their debts paid off or their cost of living is simply too high. Relieving that stress is only one of the many advantages of being debt-free. Here are some more to inspire your journey.

3 Advantages of Being Debt-Free

Anyone who has decided to embark on their own debt freedom journey probably knows most of the benefits of living a debt-free life. However, here are three perks you may have not considered yet…

  1. You get an instant pay raise. When all of your debts are paid, you’ll have more free income to spend, save, invest, and live your life with. Think about it. Every monthly payment you are making now towards an account will now be yours to spend as you wish. For us, that would mean more than $1,000 in extra cash month to month.
  2. You’re able to have more fun. Instead of borrowing money to go on vacation or biting your nails over the cost, you can stash away money more easily for fun things. You may feel like you are pinching pennies to make these things happen but you are able to freely take vacations and go out to have fun without worrying about where the money is being borrowed from.
  3. The potential to gain wealth is greater. Being debt-free will open more doors for you than you could imagine. You can create a plan to generate wealth for yourself and your family. You might even be able to become a millionaire because you’ll have the freed-up money to start saving and investing. If you are able to build up your net worth this way you are more likely to be able to leave behind a legacy for your family.

Debt Freedom Does Have Some Disadvantages

Believe it or not, not everything that comes with debt freedom is beneficial. There are a couple of disadvantages to being debt-free too.

  • It can have a negative impact on your credit score. You would think paying off all of your debts would have a positive impact on your credit score but it can sometimes have the opposite effect. If you work to pay everything off and avoid debt altogether, your score may go down because you have no way of proving you will pay for things on time. This can make it hard to get a mortgage or loan of any type.
  • You may feel out of touch with the rest of the world. Debt freedom also puts many people out of touch with the things going on in the financial world. For instance, if you are focused on paying things off and stashing money away you may miss a big investment opportunity. It can also make you feel withdrawn from family and friends. While everyone is out on Friday night, you may make the conscious decision to stay in and save money.

That being said, the advantages of being debt-free outweigh the cons every time when it comes to improving your finances. So, don’t let these two things stop you from pursuing your debt-free lifestyle.

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How to Tell If You Are Suffering From Burnout

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burnout

Here lately I’ve been feeling pretty burnt out. I’m burnt out on work. I am feeling burnt out with friendships and daily activities. All in all, I am really feeling the need to unplug, take a step back, and just breathe. However, I always find myself feeling guilty for taking that time off. I should be working, doing this and that. That guilt got me thinking about how burnout affects other parts of my life and how to identify when that break is needed.

Signs of Burnout

Signs of burnout can be different for everyone, but there are some common symptoms that many people experience. According to Psychology Today, if you are feeling any of these things you may be experiencing burnout on some level:

Physical/Emotional Exhaustion

  • Anger
  • Anxiety
  • Chronic fatigue
  • Depression
  • Increased illness due to weakened immune system
  • Insomnia
  • Impaired concentration
  • Loss of appetite
  • Physical symptoms, such as chest pains, heart palpitations, and headache

Cynicism/Detachment

  • Feelings of detachment from others
  • Loss of enjoyment in things you usually love
  • Negative self-talk or pessimism
  • Self-isolation

Lack of Accomplishment Due to Burnout

  • Feelings of apathy
  • Irritability
  • Lack of productivity
  • Poor performance

Avoiding Burnout

Burnout is not unavoidable. In fact, there are a number of things you can do to make sure you don’t run yourself ragged (I just haven’t been doing them). Mommy Thrives is a mom blog that has covered some great ways to avoid burnout that you should try and implement in your day-to-day life. Here’s a quick list…

  • Change up your routine
  • Keep up with self-care
  • Schedule days where you are not working at all (or doing anything else for that matter)
  • Start a gratitude journal

How Burnout is Affecting Me

Like I said, great ideas, but I have not been doing any of that. I’ve been feeling a bit drained recently and I began thinking about the last time I truly took time off for myself. When you look at the list above, I ticked just about every box. Getting things done has been difficult. Some days it is hard to focus on all of the things that need to be done. It impacts my mood, my productivity, and, at times, it has an effect on our finances too.

More recently, I have had a lot of trouble sleeping, which was the biggest sign for me. Normally, I sleep pretty well and get around eight hours per night. Over the last few weeks, however, I have been waking up multiple times throughout the night. The sleep tracker on my smartwatch says I average between 30 and 50 minutes of deep sleep per night (Woah!). Now, this lack of sleep could be contributing to the rest of my symptoms, but when it comes down to it, I am burnt out. Period.

My mom always says, “The only thing you have to get done today is what you get done today.” I laugh when she says this because I think of my to-do list, which is normally about a mile long. But, really, how do you start to recover from burnout? What do you need to do to climb out of it and come back to your regular duties actually feeling refreshed?

Steps to Recover

Healthline wrote a great blog post about burnout and how you might be able to best recover if you hit that wall as I have.  Some of the suggestions include things like being firm about your boundaries and leaving work at work (two things I always struggle with). The blog also talked quite a bit about being in-tune with your own personal needs. On your days off, clear out your schedule and just relax. I’ll be honest, on my days off I’m usually running around checking even more things off my to-do list.

The Mommy Thrives blog mentioned mental health days and going on a hike. Hiking is one of my favorite things to do and I have not been on a hike since August 2019 (Yikes!). When it boils down to it, I’m not taking my downtime to truly tune into my personal needs or do anything I really enjoy. Instead, I’m thinking about all the things I could be doing.

Well, thankfully, I have a supportive husband who has seen this burnout coming from a mile away. He has been pushing me to do more things I enjoy and things to help my stress levels. I have started taking two yoga classes a week (which has been amazing) and in about a month we will both be unplugging for a long weekend at the beach. We never got our honeymoon and still actually have an Airbnb gift card from our wedding two years ago, so we will get one night free. While I’ll still have a month of work to do in the midst of this burnout, it is so nice to know I have these things to look forward to, to help me re-center.

Readers, how have you been able to recover from burnout in your own life? What tips do you have?

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What Is the Real Problem Behind This Couples’ $232000 in Debt?

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$232000 in debt

Occasionally, I also write on another personal finance website called Saving Advice. The site, which typically gives out financial advice and insights into saving methods, also has a blog section where everyday people can blog about their finances. There are a number of people who have blogged there for over a decade. One of the newest members is what recently caught my attention though.

An American Debt Story

In the original post, the blogger outlined their debt and broke it down into accounts. Immediately, people began to comment on the couple’s astounding debt figures. After having paid off more than $60,000, they remain $232,000 in debt. From the post:

A bit about myself, I’m a thirty-something-year-old woman living in Alaska with her husband who’s in the ARMY and 3 children (16yo girl, 13yo girl, and 4yo boy). I’m a Dave Ramsey enthusiast although I do disagree with some of his teachings (for example, saving $1,000 for emergency fund).

The comment section was full of suggestions on what the family should do as well as other personal stories to help her know that she’s not alone. In fact, a lot of people on the site have paid off six figures in debt. But the real question is how does $232000 in debt accrue?

How Do You Get $232000 in Debt?

First and foremost, if you take a look at the original post (linked above), you will see that the family has FOUR car payments they are in charge of making. This one of the biggest red flags on the list of their debts. They also have tens of thousands of dollars in credit card debt. There are also a number of personal loans and student loans listed as well.

All in all, there has been very little reflection (on the part of the blogger) on what got them into this situation, to begin with. They owe payments on a Prius, truck, van, and RV. There is no doubt with three children that the van is likely needed, but the other vehicles are excess. The blogger says that they use the Prius for Doordash, but even the average Doordash salary would not excuse the monthly cost in car payments.

When it comes to “how does this happen,” it is the lack of self-reflection that plays a huge role. When a problem arises, a loan came through for them in an emergency instead of a savings fund. They have also made a lot of unnecessary expensive purchases.

My Thoughts

Of course, I still hold quite a bit of my own debt. We have not been able to make much progress on our debt freedom journey in recent months, but we are able to truly examine our finances. At this time, while she’s made a huge step in blogging about their debt, she hasn’t truly examined their finances.

She lists budgeting as one of her hobbies in the first post. However, she is still budgeting outside of what they actually have coming in. She is budgeting around debt payments and loan money. I think before she truly makes progress beyond the minimum payments she will have to identify what got them there in the first place.

For our family, we continued to go into debt because we overspent or thought we could afford more than we actually could (i.e. higher rent, too high car payments, etc). This is because we lived paycheck-to-paycheck our entire lives. So, when we got paid, it was “treat yourself” day. Because of this, we have to budget a set amount of money for “fun” activities so we don’t splurge. The reasoning behind their family’s debt will likely look different and so will the solution.

Readers, what do you think about this couples’ $232000 in debt? What would you suggest for them? 

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How to Keep Up With Your Resolutions

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keep up with your resolutions

A lot of people spent time reflecting on last year and setting fantastic goals for 2021. While we didn’t set any hardcore New Year’s resolutions this year, many people still did. The biggest triumph of all though is being able to stick to your plans and reach those goals throughout the year. Below are a few tips on how to keep up with your resolutions (even when you lose steam).

Setting Reasonable Goals

First and foremost, it is key to set reasonable goals for yourself. If your aspirations are too lofty, you may wind up running out of enthusiasm early on. Instead, focus on more obtainable, smaller goals that will help you reach the longer-term aspirations that you may have.

When setting personal goals, it is important to have a “big picture” in mind. For instance, if you are setting a debt payoff goal for the year, think about all of your financial goals, not just your debt freedom. If you want to invest, save money, and buy a home, be sure to include those things in your planning too. Be sure you are setting reasonable goals for yourself within the grand scheme of things.

Another thing many people suggest is setting SMART Goals for yourself. We discussed SMART Goals on the blog a while back, you can read more about them here. SMART Goals can help you hone in on the specifics of what you’d like to accomplish, when, and how.

Tips to Keep Up With Your Resolutions

If you find you have trouble trying to keep up with your resolutions, you’re not alone. A lot of people abandon those dreams by the end of January (seriously). However, there are a few tips you can consider to help better set you up for success.

  1. Keep your goals specific. As mentioned above, the more specific you are in your goal-setting, the more likely you will be to reach them.
  2. Make exact plans as to how you will accomplish it. You won’t reach your goals if you don’t have a plan of action.
  3. Plan for how you will cope and learn triggers. Much of the time, resolutions are about resolving bad behaviors. You should learn your triggers (i.e. spending triggers) and figure out how to cope without giving up focus.
  4. Replace bad habits with good ones. If you are an overspender, become an over-saver.

Last but not least, pick a change you actually want to make. Many people spend time trying to reach goals they don’t truly desire. For example, people strive to live healthier lives and at the beginning of each year commit to exercising every day. That isn’t something most people want to do. Instead, you can find ways to live a healthier lifestyle (i.e. make time for outdoor activities and eat better).

No matter what, it is important not to lose faith in your goals and aspirations. Everything takes time, especially when it comes to lifelong goals. Be patient with yourself.

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Barbara Friedberg Shares Her Secret to Wealth

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secret to wealth

Barbara Friedberg and I had a chance to sit down and have a chat recently. Usually, when I talk to people about their finances they are sharing some inspiring and amazing debt freedom stories. What is most inspiring about what Barbara had to say is that she never really had any debt, to begin with. For her, the idea of accruing debt never occurred to her. (Why couldn’t I have had that mindset, right?)

Here’s a look at the highlights of our discussion and the full video below.

What is the ‘Secret’ to Wealth?

According to Barbara, the secret to wealth has been hustling. There has never been a time she and her husband didn’t have multiple jobs or hustles at once, she said during our interview. Here are a few more of the highlights of the discussion…

  • Investing is a huge part of Barbara’s key financial plan. She emphasizes that everyone should invest in some fashion.
  • Emergency funds are another must, but it should be whatever amount makes you feel comfortable (i.e. three months, six months, or a year+ of expenses).
  • Be flexible with your finances, especially right now. Be ready to make changes and look for new ways to make money.

Have a listen to the full chat below.

Final Thoughts

I enjoyed getting to talk to Barbara. Her mindset and ideas about money are something to be looked to for motivation. No matter where you are financially, you can hustle and make your goals happen and succeed.

As far as the secret to wealth or success in your finances, I think Barbara was right in many ways. You have to be willing to be a little uncomfortable to truly improve your situation. No good change comes from being comfortable. Paying off debt is uncomfortable. Living frugally to meet savings goals can be difficult. Hustling to get by or meet your investing goals can be nerve-wracking.

In the end, though, it is all worth it. Your financial freedom will be your reward. For every uncomfortable moment during your journey right now, infinite comfort awaits once you are free from financial worry.

Barbara A. Friedberg, MBA is the owner of Barbara Friedberg Personal Finance and the Robo-Advisor Pros review website where she delves into all of the popular digital investment advisors like Robinhood and M1 Finance.

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How Brian Paid Off $30,000 in Student Loan Debt His First Year Out of College

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Paid off $30,000 in student loan debt

Any time someone chooses to seek debt freedom and succeeds in it is amazing to me. Dave Ramsey’s “debt-free scream” is always a heart-warming celebration to see online and speaking to people who have paid off debt always inspires me. Brian Meiggs’ story is yet another inspiration. He took the time to participate in a quick Q&A to share how he paid off $30,000 in student loan debt.

How He Paid Off $30,000 in Student Loan Debt

When it comes down to it, Brian was able to pay off his student loan debt by pure determination. When he graduated, that was his sole focus. He did not want that debt to have a hold over him for 10+ years, as it does with so many other graduates. Here is how Brian Meiggs got started on his journey and led him to debt freedom.

paid off $30,000 in student loan debtQ: Tell me a little about yourself. What inspired you to seek financial freedom?

A: My name is Brian Meiggs and I’m an entrepreneur who spends most of my time building finance-niched websites from the ground up and making them profitable. Some of my recent projects include My Millennial Guide, Saving Junkie, and SavingExpert.

I’ve always been a hustler. In college, I bought used iPhones and flipped them for a profit. I had a few corporate finance jobs after college, but I found myself bored and without a purpose. I knew I didn’t want to work a 9-5 until I retired so I looked for a way out. I started a blog and eventually, it took off, and now I do it full-time. I enjoy every moment of it and the freedom it brings.

Q:  How much debt have you paid off?

A: I graduated from college with around $30,000 in student loan debt. Being a 23-year-old, that is a lot of money. I spent so much time building a rock-solid budget and maximizing my income in order to tackle this debt. I paid off all of my student loans within one year of graduating college. It was so liberating.

Q: How long had it taken to get to where you are financially?

A: It definitely took me a while to start making my desired income. I thought back and reflected, “man, I’m really doing it!” What helped me reach my income goals was looking at other bloggers who were making anywhere from $10,000 to $30,000 per month. I figured if they could do it, why can’t I?

It wasn’t until my 3rd year of blogging that I felt comfortable with quitting my day job. I was working as a Credit Risk Manager making around $85,000 per year. Once the income from my blog was making me more money per month than my job, I felt comfortable quitting.

I have a funny quitting story, but that’s for another time. Now, I’m making more than six figures per year with all my websites. I simply enjoy the financial independence and not the money itself.

Q: What was the key to your success?

A: My success came from looking at other bloggers who were successful and trying to make my website better. I’m at a tipping point where if I really want to grow, I’m going to have to hire a full-team to help with management. I really enjoy running everything myself but if I want to continue to grow, this needs to happen.

Q: What is the most important part of your finances?

A: The most important part of my finances is continuing to maintain the lifestyle I am currently living. I’m not opposed to splurging on things that I want or saving every penny. I recently purchased my dream exotic car (BMW i8) and I have no regrets about it.

Q: How do you stay debt-free now?

A:  Staying debt-free is done successfully by spending less, finding additional sources of revenue and scaling that up, and having a budget that I actually follow.

Q: What is something you wish you could tell your younger self about money?

A: Money is passive. It comes and goes and while it can make you temporarily happy, creating memories and experiences whether solo or with friends and family, that’s more valuable.

Q: What is your favorite quote?

A: “The root of joy is gratefulness”  – Brother David Stiendl-Rast

Q: Is there anything you would like to leave readers with?

A:  I just wanted to thank you for reading my story and learning a bit about me. I would say the best way to invest is in yourself. Never stop learning or teaching yourself new skills. Every day you should be better than the day before. What do you want in life? Go out and get it. Perseverance is failing 19 times and succeeding the 20th. 

Closing Thoughts

Looking at the success in Brian’s story and how he paid off $30,000 in student loan debt, I thought to myself, “Man, I wish I had done that!” Could you imagine starting out your adult life with absolutely no debt? Hopefully, sharing his story inspires other young people to consider doing the same or taking similar approaches to pay off debt and focus on financial freedom.

Readers, what do you think about Brian’s story? How would paying your student debt off immediately impacted your finances? Was it ever a possibility? 

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Debt-Free and Never Looking Back: How Scott Paid Off $72,000

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Paid off $72,000

Last week, I had the pleasure of sitting down and chatting with Scott Maderer of Inspired Stewardship. Scott and his wife have paid off $72,000 in debt and, since then, they haven’t looked back. Seriously, no credit cards, no mortgage, nothing! Here is a look at Scott’s amazing story and how becoming debt-free helped him regain control of his life.

Scott’s Story

During our chat, I found out that Scott and his wife paid off all of their debt in just about two and a half years. Here are some highlights from the discussion…

  • Scott began seeking debt freedom because he was finding himself depressed because of his finances.
  • They don’t currently stick to a strict budget, but they spend next to nothing on entertainment (thanks to an extensive DVD collection, which he will talk about).
  • He and his wife will never carry debt again. They don’t even have a mortgage now.
  • For Scott, having a plan but being able to roll with the punches has been vital to his success.

I’ll let you give the full interview a listen below.

How Scott Really Paid Off $72,000

In one part of our chat, Scott talks about what has led him to be successful in his debt-free journey and what has kept him free of debt since. For him, there was a “never again” moment where he knew he would never want his finances to have such a stronghold over his life, especially his debts.

This is key for many people to maintain their finances after reaching their debt freedom goals. Having that moment where you realize you truly do not want to hold debt anymore and you don’t want to put yourself in that situation ever again can be life-changing.

If you would like to learn more about Scott or reach out to him about his story he has set up a special page for Our Debt Free Family readers here. 

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