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Sometimes in life we are faced with what may feel like a lose-lose situation.
I know I’ve had a few myself.
Today, I’m welcoming Travis Shelton into the neighborhood to talk about how he used an unfortunate situation at work to motivate him to not only pay off $236,000 worth of debt, but, ultimately, save enough to walk away from his career at age 38.
Here’s his story:
How Did Becoming Debt-Free Change How Travis Viewed His Career?
Because he no longer felt pressured to show up to work every day in order to pay off debt, Travis began to enjoy his job even more.
Not only that, but his career started to thrive as he developed the confidence to take on new projects that invigorated him.
What Motivated Travis To Pay Off His New House In Des Moines in 1 Year?
Having lived in the rental for 6 years, Travis’ wife grew tired of the small living space and they decided to save up to buy a house cash.
They also were finally able to sell the house they couldn’t sell back in Kansas City and experienced a windfall.
While saving up, they found a house they enjoyed and decided to pull the trigger and buy using financing.
Not wanting to feel like a hypocrite after preaching debt-freedom to others, Travis knew he wanted to make paying off the mortgage a top priority.
Exactly one year after buying the house, it was completely paid for and they were debt-free once again.
When Did The Urge to Walk Away From His Career Begin?
Travis never expected to walk away from his career that he loved at age 38 even though he knew that he would be doing something different with his life at least 10 years before he actually left.
Around age 36, the tug to become a financial coach and help others win with money kept growing stronger and stronger.
Travis couldn’t stomach the idea of living with the regret of never making the move, so they began to cut back their budget in order to financially prepare for him to walk away from his job- which he did earlier this year at age 38.
What Advice Does Travis Have For Listeners Facing Financial Uncertainty?
The first thing anyone must do is understand that things will be okay as long as they take things one step at a time.
Just focus on making one good financial decision at a time that moves you towards your goals.
Thanks For Checking Out Another Episode!
I do appreciate each and every one of you neighbors for listening.
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Finally, here’s where you can find Travis if you’d like to connect with him:
How Did Travis Find Himself $236,000 in Debt?
Travis found himself buried under student loans, car loans, and mortgage debt very early in his career.
In his mind, as long as he was earning more in the stock market than he was paying in interest, he was doing fine financially.
What Happened That Made Travis Want To Pay Off His Debt?
A few days after proposing to his girlfriend, Travis was called into the office at work and was told his branch of the company was shutting down.
It was then that he was given 2 choices- move away from everything he knew in Kansas City or go unemployed.
Travis and his new fiance sat down that night and discussed their options.
Because of the debt that was hanging over his head plus the horrible job market in 2008, they decided to make the move to Des Moines, Iowa that night.
They then committed to never being forced into having to make similar life-changing decisions because of their debt ever again.
What Lifestyle Changes Did Travis Have To Make To Become Debt-Free?
The first thing they did was settle into a small, 600 sq ft. condo in Des Moines. This was a huge change in comparison to the house Travis owned in Kansas City.
After that, they sold one of their vehicles to save money. Yes…they shared a car!
They also cut back on travel and dining out during this time.
These changes to their spending freed up their income enough to allow them to get really aggressive with their debt elimination plan.
4.5 years later they had completely eliminated debt from their lives!
How Did They Feel Once Becoming Debt-Free?
Travis described the moment they paid off their debt as slightly anti-climactic, however, he did say there was a huge sense of relief knowing that they had become debt-free.
They also believe that the journey changed them as a couple and as individuals for the better.