87 min listen
178: Finance Friday: From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl
178: Finance Friday: From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl
ratings:
Length:
79 minutes
Released:
Mar 12, 2021
Format:
Podcast episode
Description
Last time we talked to Sarah, AKA Budget Girl, she was on Episode 6 of the Money Show. If you haven’t listened to that episode, here’s a quick recap. Sarah was $33,000 in debt from student loans, but she was able to pay it off while making less than $30,000 year! For most people, this would have taken decades to pay off, but Sarah was able to crush her debt in only a few years!Now it’s time to check in on Sarah, and see what she’s been doing since clearing herself from debt. Currently, Sarah has a net worth of over $100,000, she took some advice from the BiggerPockets community and bought a duplex to house hack! She purchased the duplex within the “path of progress” around Texas A&M University. She’s seen some solid appreciation over the past 10 months and cash flows a small amount off the property. She’s not only living for free, she’s getting paid to live in her own property!Sarah has also hoarded a serious sum of cash and investments sitting on the side. She has retirement accounts, brokerage accounts, and a large surplus of cash that is slowly building so she can buy her next property. Sarah is able to do this by keeping her expenses very low, while making money from her full-time job and her side hustle as Budget Girl. She proved that even with a low income, you can get out of debt and hit financial milestones!In This Episode We CoverGetting out of debt fast, even with low incomeCreating multiple streams of income so you can save and invest heavilyBuying properties within the “path of progress”House hacking to live for free (or getting paid to live)TSPs, Roth IRAs, and other retirement accountsKeeping your spending conservative so you can go all in on investmentsAnd So Much More!Check the full show notes here: https://www.biggerpockets.com/moneyshow178See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 12, 2021
Format:
Podcast episode
Titles in the series (100)
#36: From Childhood Poverty to Financial Freedom by Age 32 with Jillian Johnsrud: Jillian Johnsrud grew up lacking the privileges that many of us take for granted. Jillian Johnsrud grew up poor, with an abusive step father and a mother unable to leave due to lack of funds. She emancipated herself during her junior year of high... by BiggerPockets Money Podcast