Kyle Depiesse and his wife were deep in debt when a single search into his life-to-date income launched him into a thirty-eight-month journey to completely eliminate his debt.
Since then, they have paid off two mortgages and a car loan, totaling up to $380,000 of debt.
During this journey, Kyle and his wife had their son and transitioned from a dual-income to a single-income household. So how were they able to pay off so much debt in so little time?
Kyle attributes it to changing the way he communicated with his wife, staying inspired by his dreams, celebrating smaller milestones, and capitalizing on the value of each person in the relationship.
While Kyle and his wife originally struggled with aligning on their debt-free goals, through self-reflection and recognizing he needed to make changes, Kyle was able to adjust the way he communicated with and motivated his wife.
While debt absolutely can be tackled by one partner, he realized that their teamwork exponentially increased the rate at which they paid off their loans.
Kyle cast aside his pride and traditional gender roles, and he left his job as a high school business teacher to become a stay-at-home father.
Although this choice to become a single-income household was a risk, their plan to invest in his wife’s career resulted in their income doubling – a key ingredient in their ability to pay off debt.
In this episode, Kyle sheds light on not only lifestyle strategies that can decrease expenses and increase income but also the ways in which he has learned to become a more supportive and communicative partner in his relationship.
His determination and self-reflection exemplify the most essential step one needs to make before moving towards debt-freedom: the decision not to wait for a change, but to be the change in one’s life.
What You Will Learn
- Ways to communicate with and motivate a partner to tackle debt and make life changes
- How to stay connected and inspired by your goals and dreams
- How to set and celebrate smaller milestones
- Tips to budget on an irregular income
- How to live below your means
- How to increase your income by capitalizing on your own value
- Strategies to set your partner up for success as a stay-at-home parent
Resources Mentioned
- The 5 Love Languages by Gary Chapman
- Kyle’s IG: @kyle_depiesse
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