This week, my friend Kyle Depiesse stopped by the neighborhood to share his financial journey with us.
After Kyle calculated his households career earnings, he knew a change was needed.
He got to work researching and found Dave Ramsey’s plan which helped him pay off $380,000 worth of debt in only 38 short months.
During this time, he and his wife became parents so we talked about the impact a child has on your finances as well.
We wrapped up the episode talking about how to deal with burnout from a debt-free journey as well.
You definitely don’t want to miss this one!
Listen To The Episode
Key Moments To Listen For
The Moment Kyle Realized He Was $380k In Debt [2:20]
Did Things Feel Normal Or Out Of Control Financially [3:48]
What made up the $380,000 worth of debt [4:21]
What was their annual income [4:44]
How To Get A Spouse On Board With Paying Off Debt [6:23]
The First Steps Kyle Took To Get Out Of Debt [9:51]
How Visual Aids Helped Them Stay On Track [10:45]
Limiting Money Beliefs They Needed To Overcome [13:21]
What Came After Paying Off Debt [17:03]
Would Kyle Have Done Their Debt-Free Journey Differently Now [19:21]
The Impact Becoming A Parent Had On Their Finances & Mindset [20:49]
How Did The Debt-Free Journey Impact Their Marriage [26:59]
What’s The Plan For Wealth-Building After Paying Off Debt [28:37]
Top Takeaways
-Don’t worry about what your family and friends will think. Just get started.
-Focus on being a better steward with what you have more than you think about getting more.
-Stop thinking “Can I afford the monthly payments” and start thinking “Can I really afford to buy this item?”
Tools To Help You
Kyle mentioned using coloring charts to help them stay motivated while paying off debt. You can check out some of our charts by tapping below.
Coloring Charts To Keep You Motivated
Be sure to check your career earnings like Kyle did at the link below:
SocialSecurity.Gov
Kyle also mentioned books by John Maxwell and Patrick Lencioni as his favorites. Here are some of their most recommended ones:
Connect With Kyle
You can connect with Kyle at the following links:
