Inspiration comes in many different forms. We get inspired when we watch sport and see people push their bodies to the limit. Some movies inspire us to follow our dreams no matter what.
And then there are testimonies that, when we listen to or read them, inspire and encourage us because if they can do it, so can we.
On today’s episode of The His & Her Money Show, inspirational debt-free couple, Brandon and Alayshia Presley, tell us about their journey to debt freedom.
Brandon is a Scientist and Worship Leader. Alayshia is a stay at home mom and sells goods online for extra income.
Freedom From $80,000 Debt in 3 years
The consumer debt of $80,000 included student loans of $50,000, a car loan of $16,000, credit cards of about $4,000, medical bills of about $9,000, and money they had to pay back to other people of about $1,000.
They Didn’t Want to Struggle Anymore
Brandon and Alaysia realized that they no longer wanted to struggle financially when they became parents. Also, a stewardship class at their church really opened their eyes to the downside of debt.
In the beginning, because of the example that Alaysia set, Brandon could break the reliance-mentality of his credit card. They realized that the sooner they start, the less interest they will have to pay. They both had the same vision for their future: debt freedom.
Extra Moola
Some of the ways they brought in additional revenue were to tutor in the evening, selling things on e-bay, and making things and selling it on Etsy. They realized that by using their God-given talent, it could help them to get out of debt.
They used their bonuses and tax returns to pay off the debt as well. Furthermore, they stopped eating out and saved a lot of money. They also found free things to do for their children.
Motivation and Marriage
Brandon and Alayshia found support in their community. They stayed on track by listening to podcasts and reading books. Alayshia used the children as a reason and not an excuse to give up. They both agree that the lines of communication in their relationship were opened up and it built a stronger marriage by going on this journey together.
Debt Free Feelings
Since paying off their debt, Brandon loves the feeling that he owes no one nothing, and that they can use the money that comes in at their own discretion. He can also work on finishing his Ph.D. because they have set themselves up so that he doesn’t have to work a full-time job.
Why They Succeeded
Alayshia found that she had to be disciplined and had to make certain sacrifices for her dream. Brandon realized just how resourceful he could be and that he was an entrepreneur at heart.
Alayshia encourages listeners to dig deep, think of ways that they can make extra money, and focus on something that you look forward to, something you will be able to do that you cannot do with this debt that keeps coming in the way. Brandon agrees and encourages listeners to set up SMART goals (Specific, Measurable, Attainable, Realistic, Time-bound).
What You Will Learn
- Why debt is NOT normal
- How to open your eyes to your REAL financial situation
- Why it’s so important to have a vision for your future
- Great ideas to bring in additional revenue
- How debt freedom gives you options
Resources Mentioned
- Alayshia’s Etsy Shop – http://go2l.ink/1yGq
- Alayshia’s eBay Store – http://go2l.ink/1yGs
- Brandon’s Tutoring Services – http://go2l.ink/1yGt
- Total Money Makeover by Dave Ramsey
- Rich Habits – The Daily Success Habits of Wealthy Individuals by Thomas C. Corley –
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Who Switched Off My Brain by Caroline Leaf
Thanks For Listening!
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Today’s show is sponsored by Legal and General America. Legal & General America makes understanding and applying for life insurance easy. Also, agents are standing by to help you determine the best coverage to fit your family’s needs. Visit HisandHerMoney.com/lgapodcast to get started on your journey toward financial wellness.
