How To Tackle 6 Figure Debt On A Single Income | Nika Booth of Debt Free Gonna Be™

Yo Quiero Dinero

Jannese Torres

Saving, Entrepreneurship, Business, Investing, Wealth, Personal Finance For Latinas, Personal Finance, Budgeting, Finances, Generational Wealth, Equal Pay, Financial Literacy

4.9 • 607 Ratings

🗓️ 4 February 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Episode 71 is about how Nika Booth is tackling her six-figure debt. She shares her debt story, payoff methods, and what’s helped her remain motivated.

We are excited to present our first guest in this series in this bonus episode. In episode 71, we hear from Nika Booth, of Debt Free Gonna Be™.

Nika is a single woman on a journey to slay her 6 figure debt. After suffering from depression she got serious about getting out of debt. Nika started documenting her debt free journey on Instagram as Debt Free Gonna Be™ and is now a personal finance community and coaching business, helping thousands of people to take control of their finances, get out of debt, and live the life they deserve.

You can follow Nika’s debt payoff journey on Instagram, Facebook, Twitter and Pinterest. Be sure to check out her blog.

Episode Highlights:

Going into credit card debt in order to keep up with a lifestyle
Deferring your student loans
Hitting a motivation standstill
Debt Snowball method
Investing while paying off debt

For full episode show notes, click here.

This episode with Nika will inspire you! She lays it bare and shares all the highs and lows of her journey, including the reality that this isn’t her first attempt at the journey!

Personal finance IG creators will make you believe the debt payoff journey you’re seeing was “the one”—while for some, it might be, Nika shares that this has been an effort that’s taken multiple attempts.

Listen on your favorite streaming platforms!

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Check out this YQD™ Sponsor:

BetterHelp—Professional support when you need it, at the fraction of the cost of in-person therapy. Get 10% off your first month with our sponsor: https://betterhelp.com/dinero

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Transcript

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0:00.0	Everybody's motivated differently.
0:01.7	And getting out of debt is my motivation because regardless of how long it's going to take me to do it,
0:07.2	I know that that's the like.
0:09.3	Like when I envision my life, none of what I envision is me shackled to debt.
0:17.2	You're listening to Yo Quiero Dinero, a personal finance podcast for the modern Latina.
0:22.7	I'm your host, Janice Torres Rodriguez, personal finance expert, speaker, writer, and business
0:28.2	coach. I teach women of color how to build wealth and gain financial independence through
0:32.7	side hustles and investing. On this show, we're serving up POC-friendly personal finance knowledge, always with
0:39.4	a side of SaaS. We're talking about how to make Dinero, how to keep it, and how to make it grow.
0:45.0	If you're ready to become Poderosa with your Dinero, you've come to the right place.
0:53.7	Hello, my gente.
0:54.9	Welcome back to another episode of Yo Quiro Dinoiro, the podcast.
0:58.1	This is your host, Janice.
0:59.4	And today we are officially kicking off our Black History Month celebration.
1:04.7	We are going to be highlighting Black voices exclusively during the month of February.
1:10.3	And I'm super excited to announce that we're also doing double the episodes this month.
1:15.0	So you're going to get twice as many podcast episodes as you are used to getting.
1:20.0	We're going to be releasing episodes on Thursdays and Sundays throughout the month of February.
1:25.0	And super excited to just be able to use this platform to amplify
1:28.6	black voices and share personal finance stories and journeys that do not get shared on other
1:33.6	platforms. So thank you for your support. Thank you for being here. And I hope you're looking
1:37.9	forward to this month of amazing guest interviews. So we're kicking the month off with a bang and
	...

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