Episode #169 with Whitney Hansen-Paying Off Your Debt!
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Episode #169 with Whitney Hansen-Paying Off Your Debt! Whitney Hansen is a personal finance coach and host of The Money Nerds Podcast. She teaches overwhelmed millennials how to pay off debt and be financially independent. She gives them the tools to have more fun with money while sprinkling in a little silliness. Some of her accomplishments are paying off $30,000 in 10 months, buying her first home at 19, and paying $472 for her master’s degree.
TOP POINTS FROM THE EPISODE:
- Using your financial struggles to motivate you to kick butt in life
- Millennials and money (struggles unique to them)
- Paying off $30,000 in debt tips and tricks
- Bank statement exercise:
- Print out last few months of bank statement and see what you spent in each category; food, fun, etc.
- Now drop those numbers into a budget.
- Paying off debt can be gradual!
- What are your top 3 values!
- If you’re not spending in alignment with your values you’ll never be happy!
- What accounts do you have open in your name? Know all the debts in your name!
- Debt snowball approach!Pay off the smallest loan first regardless of your interest rate!
- Cut those credit cards up!!! or put them in a mason jar with water and put it in your freezer!
RECOMMENDED BOOK: The Power of Habit- Charles Duhigg
YOUR #1 VALUE: Living a debt-free life and leading by example!
GOLD NUGGET: Do the hard work now and future you will thank you!
WHAT DOES RISE UP FOR YOU MEAN TO YOU? Turn your challenges into opportunities!
- Instagram @whiney_hansen_co
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