098 Paying Off $111,000 of Debt in 4.5 Years on a Teacher’s Salary with Allison Baggerly
Journey To Launch
Jamila Souffrant
5 • 1.7K Ratings
🗓️ 22 May 2019
⏱️ 50 minutes
🧾️ Download transcript
Summary
I’m so excited to be joined by Allison Baggerly on this episode who is the founder of Inspired Budget, a business that helps women learn how to budget, save money, and pay off debt. Allison shares with us how she and her husband were able to pay off $111,000 worth of debt on 2 teacher’s salary in 4.5 years! She gives us lots of great tips on how she and her husband stayed committed to their goals, and opens up about her struggles with anxiety and depression around money which affects many of us. Learn how to shift your focus from finding temporary happiness from spending money to finding it in saving & paying down debt!
Topics discussed on this episode:
- How she and her husband paid off $111,000 in debt in 4.5 years on teacher’s salaries
- What steps they took to find more money in their budget
- How they stayed committed to their money goals
- Her struggle with anxiety and depression, especially around money
- How she’s a natural spender and how she fought it to stay on track to pay off her debt
- How Allison juggles a full-time job, being a mom and a wife plus running a side hustle
- Her thoughts on the Financial Independent Retire Early Movement (F.I.R.E)
- Tips if you are struggling with a budget plus so much more!
Other related blog posts/links mentioned in this episode:
How We Paid Off $111,000 of Debt to Become Debt Free
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YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.
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Transcript
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| 0:00.0 | You're listening to the Journey to Launch podcast paying off $111,000 of |
| 0:06.1 | dead in four and a half years on a teacher's salary with Allison Baggerly. |
| 0:10.8 | T minus 10 seconds. Welcome to the Journey to Launch. Allison Baggerly. talk. She helps brave journeyers like you, get out of debt, save, invest, and build real well. |
| 0:27.0 | Join her on the journey to launch a financial freedom in five, four, three, two, 3rd up in 5 4. 3 2 1. |
| 0:37.0 | Before we get into this amazing podcast episode let me tell you about today's sponsor |
| 0:45.9 | Experian and why I'm so excited to share this amazing tool that will help you boost |
| 0:51.2 | your credit scores. |
| 0:52.6 | So now you know I'm on a mission to bring |
| 0:54.9 | not only the concept of financial freedom and independence |
| 0:58.1 | to a wider audience, but I actually |
| 1:00.0 | want to give you the tools and resources |
| 1:02.3 | that will help you actually accomplish your money goals. |
| 1:05.7 | So access to credit is a key component and gateway in being able to build wealth, and I'm not |
| 1:11.0 | talking about access to credit cards for the purpose in staying in perpetual debt. |
| 1:15.0 | We're not doing that, journeyers. I'm talking about using credit as a way to leverage and increase your buying and investing power. |
| 1:23.2 | The facts are the matter of this. |
| 1:24.6 | Most if not all people will need to use credit |
| 1:27.8 | throughout their lives, and the better the credit, |
| 1:30.4 | the lower you'll pay in interest charges and expenses. |
| 1:33.6 | I've seen firsthand what access to credit and having good credit can do for someone's |
| 1:38.7 | financial trajectory. |
| 1:40.0 | Now, whether it's through the countless number of guests that I've interviewed who cited credit as a way to buy their first real estate property or just through my own personal experience of using credit to buy my first real estate property and actually Travel Hack where I use |
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