E22: How We Paid Off Over $400k in Student Loan Debt

Episode 22

Sep 25, 2019

Facing a mountain of debt can be scary. There is a way through it.

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EPISODE 22

How We Paid Off Over $400k in Student Loan Debt

  • Got married and combined finances, debt, everything
  • That much debt is scary
  • Staying motivated
    • Pictured the outcome in vivid detail
    • Investing in retirement
    • Going on vacations
    • Buying a new home
    • Eating out more
    • Working less
  • Operational tactics
    • Put all debts into a spreadsheet and did debt snowball
    • Put the list on our fridge
    • Crossed off each one as we paid it off and gave ourselves a reward (ice cream, dinner out, purchase of something we wanted, new grill, vacation, etc.)
    • Did the math on how long it would take so we had a date to look forward to
  • Income
    • Looked for ways to bring in more money
    • Side businesses
    • Being open to possibilities
    • Remembering that once debt is gone, more flexibility is created
    • Income is key when you have a lot of debt… get creative, make money right now (you can always change business/career later)
  • Every time we got a chunk of money in, we were excited to throw it at the debt


Intro/outtro music credit: eccentric - I Can Show You [Argofox Release] by Argofox

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