Overcoming Debt, Achieving Financial Freedom

Chapter 8Create Your Debt Payoff Plan

One of the most significant parts of my money story is that I paid off $215,000 of debt in four years. When I share this, I am usually met with a variety of reactions:

• Expressions of awe at this feat.
• Skepticism because how is that possible?
• Wonder on why I would rush to pay off my debt when I could have instead enjoyed my money (this reaction was common, especially among my colleagues in the legal community).
• Dismissive attitudes and eye rolls accompanied by statements like: “Well, of course, you did. You're a lawyer.”

These are all fair reactions. Paying off a significant amount of debt in such a short period of time is uncommon and, to be frank, took a great amount of financial privilege (namely, my six‐figure attorney salary). But to stop the conversation there ignores what I have learned about debt, the strategies that I implemented to become debt‐free, and what I have taught others.

Since becoming debt‐free in December 2019, I have coached hundreds and taught thousands on how to create an effective debt payoff plan—regardless of income or debt amount.

My clients have spanned all parts of the income spectrum, including:

• A part‐time barista earning $20,000 annually
• A teacher with a $70,000 salary
• A software engineer with a $150,000 salary
• A physician with a $300,000+ salary

My clients’ debt amounts have similarly mirrored their income diversity:

• A recent college graduate with a $10,000 loan
• A single mom with $40,000 of credit card ...