Being in debt can cause mental stress, physical stress and marital stress.
Michael Lacy and his wife Taylor were under marital stress when their debt caused them more problems than they were prepared for. After some honest discussions and hardcore planning, they managed to pay off all their debt and come out stronger as a couple.
Being neck-deep in debt can make you feel like all the odds are stacked against you, especially when you reach almost the seven figures!
Today, Andy talks to Wendy Mays on how her family is climbing out of nearly $1,000,000 of student loans, home mortgages, car loans, and other consumer debt. Wendy is the host of the House of FI podcast, a part-time work-from-home lawyer and a mother to six children.
We talk about how she and her husband accumulated their debt, the turning point that led them to fix their situation and their progress on their journey to financial independence so far.
One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?
One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined annual income of $130,000 so we figured our net worth must be HUGE.
After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!
We walked upstairs and started to write down all of our numbers on a big whiteboard. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.
According to a recent survey by the National Association of Home Builders, more than half of Americans would consider living in a home that’s less than 600 square feet. And when you ask millennials the same question, that number jumps to 63%. So what’s fueling this interest?
Today, I’ve invited somebody on the show who lives in a 170 square foot tiny home with her husband and absolutely loves it.
Jill Sirianni is my guest today. She is a professional social worker and loves all things minimalism, tiny home living and debt freedom. She’s also the host of the Frugal Friends Podcast, which was nominated this year as the “Best New Personal Finance Podcast” by Plutus.
Her frugal advice and story has been featured in multiple popular podcasts, and recently, the Wall Street Journal.
There’s a moment in people’s lives when they decide it’s time to become debt-free. For me and my wife, Nicole, it was when we learned we were going to be parents. For some, it’s when they get married, and for others, it’s just when they simply get fed up with owing people money.
Today, I’ve invited a couple who recently eliminated debt from their lives once and for all. Ryan and Regan Whitlock recently paid off $40,000 of debt in 8 short months. We’re going to find out their motivation for crushing this debt, so others can find their moment and their reason for becoming debt-free.
On our Mortgage Freedom Series today, we’re going to interview a couple that paid off their mortgage in less than 3 years and is now one step closer to financial independence because of it. Julien and Kiersten Saunders are my guests today and they are the creators of Rich and Regular, a hot new personal finance media brand that is growing in popularity because of its honest, informative and relevant approach to money.
Julien and Kiersten’s story and advice have been featured in big publications like the New York Times, MarketWatch and Forbes. And when they’re not talking about money, they’re traveling the world and raising their son in Atlanta.
On our Mortgage Freedom series today we’re going to introduce someone who paid off their mortgage through house hacking. What is house hacking you might ask? Well, we’re going to learn more about that today.
Steven Donovan is our guest today. Steven is a money coach and his financial advice and his inspirational story have been featured in GO Banking Rates, Bigger Pockets, and Rockstar Finance.
According to Bankrate, 29% of Americans have more credit card debt than they have in an emergency fund. That is some scary, scary stuff.
Today, I have a guest that accumulated quite a bit of credit card debt right around the time he got married. We’re going to talk about how he got out of that mess.
Chris Browning is the creator and the host of the award-winning short-form podcast, Popcorn Finance. His topics range from understanding the basics of investing all the way to his love of tiny homes. Chris’s advice has been featured in major publications like NerdWallet, Yahoo Finance, and CNBC.