Name: How I paid off $117k of debt in 4 years.
Uploaded: 2021-08-27T03:37:57.000Z
Duration: 21 min 7 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Past simple

- From 2010 when I graduated college until 2014,

To-infinitive

I managed to pay off all of my debt, all $117,000 worth.

And so for the first time in a long time,

I mean, at least as it related to my personal finances.

I wanna share the three steps that I took to get there

and break down some of the important details

This video is brought to you by my friends at Squarespace,

So at 22 years old and just fresh out of college,

So let's add another $18,165 onto the total,

So at my lowest point, I had $117,000 worth of debt.

And while student loans are increasing every year,

most people don't graduate with the kind of debt that I do

would need $117,000 in debt to start their career,

but mistakes were made, blame it on the system,

blame it on myself and my stupidity at 18 years old,

And at first I wasn't going to deal with it at all.

the minimum payments every month for 30 years

But then I started to get interested in self-development.

who had paid off their debts in two years,

It started to inspire me to chase that kind of freedom

And for me, there were really three core steps

that helped me get through it as quickly as I did.

Step one, intentionally cut back on your spending.

Now it really doesn't matter how much money you make,

if you continue to spend every last cent of your paycheck.

And so you need to get really intentional with

where you're spending your money and how you're spending it.

I know lots of people who make 150, 200K,

who still have tens of thousands of dollars

But what you really deserve after all that hard work

And so if we can begin to reframe our spending habits,

then we can begin to make a dent on our debt.

One of the most difficult decisions that I made early on,

which ended up being the best one that I could have made,

was to move back home to live with my parents.

and dating and doing all the things I wanted to do.

And I was at home watching late night television reruns

but I also knew that this wasn't the time.

That right now I had to save, I had to be patient.

I had to look towards the long-term vision of my life

I ended up saving thousands of dollars every month

It was around this time that I discovered minimalism.

Even though I had decided to move home with my parents,

I was spending thousands of dollars on clothes,

I put $18,000 of loans into a brand new car.

it helped me to redefine my idea of success.

Why am I making these purchases in the first place?

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How I paid off $117k of debt in 4 years.

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