221: Brian Brandow, Debt Discipline Blogger

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 20 August 2015

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Imagine earning six figures…but being broke. Earning over $100,000…but facing the same amount in credit card debt. This is where the story of Brian Brandow begins. When trying to book a family vacation back in 2010, Brian says he hit a wall. All of his five credit cards were maxed out and he had no available cash. At the time he was making a great salary of $120,000 as an IT manager – more than enough to afford a vacation – and he quickly realized he and his wife needed to make a change. They were living far beyond their means, and had accumulated a whopping $109,000 in debt. So Brian and his wife set out to take control of their finances and their journey t tp financial freedom began. Brian educated himself on personal finance, his wife went back to work to bring in extra income, and they were able to clear the debt in just over 50 months or 4 years. Without having to worry about paying off debt, they now are able to contribute to an emergency fund, retirement savings and college funds for their three kids. Today, Brian’s goal is to help others in similar situations through his blog Debt Discipline, and personal coaching sessions, where he teaches budgeting and getting on the right financial track. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 221, Brian Brandau.
0:05.0	You're listening to So Money,
0:07.0	with award-winning Money Guru Farnu Farnou Shorabi.
0:10.0	Each day, get a 30 minute dose of financial inspiration from the world's top business minds,
0:14.9	authors, influencers, and from Farnus yourself.
0:19.2	Looking for ways to save on gas or double your double coupons?
0:22.8	Sorry, you're in the wrong place.
0:24.9	Seeking profound ways to live a richer, happier life.
0:28.4	Welcome to So Money.
0:41.0	Welcome to So money everyone. I'm your host, Farnish Tarabi. Picture this. Just imagine. Close your eyes. Imagine. Earning six figures, which is well and above average in this country, it's what some people
0:48.1	just aspire to do is to earn six figures across that $100,000 threshold, but all the while being broke.
0:56.2	Yeah, earning over $100,000 a year and facing an exact amount or similar to that in credit card debt.
1:05.0	Not talking student loans or your mortgage, credit card debt.
1:09.0	This is where the story of Brian Brandau, our guest today, begins.
1:13.4	When trying to book a family vacation back in 2010,
1:16.4	Brian says he hit a wall.
1:19.0	All of his five credit cards were maxed out.
1:21.8	He had $0 left, no available cash. And at the time he was
1:26.9	making a great salary, $120,000 as an IT manager. That's more than enough to afford a vacation. But he quickly realized that he and his wife were broke and they needed to make a change.
1:40.0	And they were living obviously far beyond their means.
1:44.1	They had in accumulation about $109,000 in debt.
1:49.1	And it was the wake-up call of wake-up calls.
	...

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