66 min listen
143: How to Pay Off $160k in Debt in 3 Years While Making $90k
143: How to Pay Off $160k in Debt in 3 Years While Making $90k
ratings:
Length:
75 minutes
Released:
Sep 21, 2020
Format:
Podcast episode
Description
Shannon Gauthier discovered the debt she and her husband had gotten themselves into when a debt collector caller her at work and she started asking questions.Shocked to discover $30,000 in unpaid debts, she quickly found herself a single mom as her husband left.She tried to pay them off as best she could, but found herself somedays deciding whether to buy a gallon of milk or a gallon of gas to get to work.Fast forward a year, and she met a new man who brought significant debt with him to the relationship - to the tune of $60,000!Each of their divorces added more debt to their pile and at the height their debt totaled $160,000. Their income trailed this debt at $65,000 and they knew they'd have to do everything in their power to knock out this debt.They moved in with his parents to pay lower rent and have someone to watch the kids while they worked. They couponed and did free things with the kids to be able to throw every single dollar they could at their debt.This approach paid off, because by the end of the year, they will be completely debt free and be able to start saving and investing and working toward financial freedom.If you're in debt and see no way out, this episode will show you there IS a way to paying down your debt, that it isn't always easy, pretty or fun, but it CAN be done.Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave RamseyPinterestBiggerPockets Money Podcast 130Mindy's emailCheck the full show notes here: https://www.biggerpockets.com/moneyshow143See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Sep 21, 2020
Format:
Podcast episode
Titles in the series (100)
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