How we paid off $200K in debt in five years

In this conversation, Julien and Kiersten discuss their personal journey of paying off $200,000 of debt in five years. They explore the emotional impact of debt, the different approaches to debt payoff, and the importance of discussing debt openly as a couple. They also discuss the role of shame and regret in debt payoff, the significance of debt payoff as a financial goal, and the stigma attached to having debt. The conversation highlights the importance of planning, budgeting, and setting goals during the debt payoff journey as well as the impact on lifestyle and mindset. They emphasize the power of partnership, the importance of enjoying living below your means, and the need to anticipate setbacks along the debt payoff journey. In this conversation, Julien discusses the journey of paying off debt and the unexpected benefits that come with it. He emphasizes the importance of building financial resilience and how it can provide a sense of comfort and confidence during challenging times. Kiersten highlights the need to embrace the full range of emotions throughout the debt payoff process, rather than solely focusing on happiness. Together they share their appreciation for the debt payoff journey and contrast it with investment growth, emphasizing the sense of fulfillment that comes from putting in immense effort.
To learn more about the show, visit richandregular...
Show notes, articles, research or data mentioned in the episode:
Survey: Nearly Two thirds of Americans don't expect their personal finances to improve in 2024
finance.yahoo....
About the Hosts:
Julien and Kiersten Saunders are the hosts of the rich & REGULAR® podcast. New episodes are published weekly on TH-cam, Apple Podcasts, Spotify and other streaming platforms. Julien and Kiersten are also the authors of Cashing Out: Win The Wealth Game By Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes. To learn more and purchase the book, visit richandregular...
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[@ParkDari]

We made our debt journey into a game. we made posters where we could check off each payment or principal payment. we would even calculate the interest saving we would sometime make weekly payments little partial payments, ridiculously tiny payments anytime extra money came into our life. We would celebrate finding any free activity. We would even keep a calendar year to year to make sure we did not miss any great free activities that were local to us, it was crazy. We had the biggest social years of our lives during the debt payoff because we discovered so many local free things to do and we did them so we never felt deprived while we lived at poverty level you get out of debt Everyone else would talk about cable TV shows or expensive events, but we would just talk about all the cool free stuff we did that weekend

[@jeteiaj]

Love this. Both your voices are so soothing. I just finished the book and I feel like you did speak more about the why behind the debt pay off. So I appreciate this podcast on how.

[@richandregular]

Thank you so much for listening AND reading the book. We appreciate you.

[@rnggall9640]

So many powerful words. Thank you for the insights

[@Batirtze-b6x]

Awesome reflections. Very true, relatable and (unfortunately) unusual. Thank you both.

[@cmgrange]

The high is real… for each little or big win. AND it is faster with a partner but still possible solo👍🏾

[@chanreka]

I truly believe the most important take away is that how you start the journey is not necessarily how you will finish the journey. But ultimately you have to start and commit to change and success will come! Merry Christmas and Happy Holidays to all!

[@smithflooring436]

Love the podcast and channel. Would love to have you face each other so you don't need to crane your necks to listen and to see one another. Just a bit distracting to watch. Continued blessings