Episode 383: How Tracy Paid Off $170K Of Debt, Why We Need More Queer Voices In The FIRE Movement & Being Open About Privilege REWIND
Journey To Launch
Jamila Souffrant
4.9 • 1.7K Ratings
🗓️ 17 July 2024
⏱️ 55 minutes
🧾️ Download transcript
Summary
Once blogger Tracy Levesque released her article titled, "What I learned from binge-listening to the entire Journey to Launch podcast," I knew that I had to have her on as a guest. She joins us after paying off $170k worth of debt and jumping on the financial independence, retire early movement.
We chat about the growth mindset her mom passed down to her, her entrepreneurship journey, how true wealth is providing education, curiosity, and the understanding of the value of experiences over material possessions, and why we need to have more LGBTQIA+ voices in the FIRE community.
In this episode, we discuss:
- What sparked Tracy's curiosity about the FIRE movement (Financial Independence, Retire Early)
- Building a business without a roadmap, hustling as an entrepreneur in the computer world + getting into real estate
- The steps Tracy and her wife took to pay off $170,000 of debt in 10 years using the debt avalanche method + zero-balance transfers
- Blind spots in the FIRE movement, using privilege for good + the call for more queer voices in the personal finance space
- How Tracy's mom taught herself about the stock market and became a successful investor + more
Other Links Mentioned in episode:
- Read Tracy's Blog Post: "What I learned from Binge Listening to the Entire Journey to Launch Podcast
- Suze Orman's 9 Steps to Financial Freedom
- Do You Love it or Just Want It- How to Stop Stress Spending
- Get Good with Money by Tiffany Aliche
- Financial Freedom with Jamila Souffrant on the Frugal Living Podcast
- How Tracy and her wife paid off $170000 of debt in 10-years
- Your Money Or Your Life: Transform Your Relationship With Money & Achieve Financial Independence W/ Vicki Robin
- Retiring At 30yrs Old & Living A Full Life On $20k A Year W/ Purple
- All About The Health Savings Account (HSA) -The Ultimate Retirement And Investment Account W/ Jackie Koski
- Your Money or Your Life by Vicki Robin
- Independence Business Alliance
- Get your copy of my book: Your Journey To Financial Freedom
- Leave Your Journey To Financial Freedom a review!
- Get The Budget Bootcamp for FREE
- Check out my personal website here.
- Join The Weekly Newsletter List
- Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
- YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
- What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here!
Connect with Tracy:
Transcript
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| 0:00.0 | If you have debt, why invest at all? Because you know the math doesn't work out, but for me the math does work out because it's time, right? It's like the biggest grower of wealth is time. |
| 0:15.9 | If you're not taking advantage of that time, even a little bit, I think you're going to lose |
| 0:20.3 | out on a lot. T-minous 10 seconds. |
| 0:23.0 | Welcome to the Journey to Launch Podcast with your host, Janila Sufrant, as a money expert who walks her |
| 0:30.0 | talk. |
| 0:31.0 | She helps brave journeyers like you, get out of debt, save, invest, and build real well. |
| 0:37.0 | Join her on the journey to launch a financial freedom in five, four, three, two, 3. 2. 2. 1. |
| 0:47.0 | Hey, hey, journeyers. |
| 0:51.0 | Welcome to the Journey to Launch Podcast. |
| 0:55.0 | Quick note, for the next couple months, I'll be sharing some rewind episodes that were previously |
| 1:01.2 | aired on the podcast, but were also mentioned as case studies in my book |
| 1:06.2 | Your Journey to Financial Freedom, a step-by-step guide to achieving wealth and happiness. |
| 1:12.1 | One of the things I wanted to do with the book is not only share my personal story in an effort for you, the reader, |
| 1:18.0 | hopefully you're a reader or will be, to feel connected to the story and inspired, I wanted to also share other people's stories and |
| 1:26.3 | journeys and to bring more diversity, different starting points and scenarios that could be |
| 1:31.2 | relatable to more people. So this first batch of |
| 1:35.7 | episodes you'll hear are based on the topic of people paying off debt. The group of |
| 1:40.4 | episodes after that will be rewind episodes based on people who are on the financial independence journey from various starting points and we'll close out the series of Rewinds with some fan favorite episodes. Again, all of these episodes and |
| 1:54.7 | interviewees were mentioned in my book, Your Journey to Financial Freedom, which is |
| 1:59.5 | available now where books are sold, Amazon, Walmart, Barnes and Noble, Target, you name it, your |
| 2:05.0 | local bookseller or bookshop. |
| 2:08.0 | Now you can head over to your journey to Financial Freedom.com to get your copy and see all the places you can buy it. |
... |
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