Do you claim yourself to be one of the successful people of this generation? Do you live an expensive and luxurious lifestyle and have secured your future? If the answer is yes, congratulations on a job well done. But have you asked yourself if you have shared your blessings with others?
Real success is not measured by what you possess but what you’ve shared to give inspiration to others. It is said that life is sharing and giving and, of course, your relationships with family and the other people you’ve already meet in some part of the world.
On this episode of The His & Her Money Show, we have Phillip Taylor (PT), the founder of PT Money and FinCon, here to share his incredible entrepreneurial journey and how he fought to pay off his and his wife’s combined student loan, car loan and credit card debt in just a matter of almost 3 years.
Phillip, a natural entrepreneurial spirit, was confused as to what to focus on first: the student loan that had a very low-interest rate or his investing problems. He blogged, listened to podcasts, and got inspired by other peoples’ stories, and it motivated him to get out of debt.
With the help of his frugal wife, he focused on and reduced their expenses, found another source of earnings and the couple managed their income level.
There’s only so much expense you can reduce but income is unlimited.
Later, PT found himself not enjoying all the material things he had acquired but wanted something secure for his family’s future. He wanted more than money, but rather freedom and independence. So, while paying off his debts, he pursued his real passion and tried to make a financial investment, grow his business, and help others.
Finally, the day came when his debt was over and it made him feel free and amazing. He now had a clearer vision for the future, focusing more on the bright side which prompted him to spread his wings and fly.
What You Will Learn
- What motivates PT to get out from under his debt.
- The actual strategies of paying down debt.
- How to figure out the income side with ways to bring in additional money.
- What the biggest game is in his financial life aside from debt.
- PT’s comparison between having debt and being debt-free.
- The biggest lesson PT learned from his debt and the entrepreneurial journey.
- Tips and advice for people who have the same debt barrier.
Resources Mentioned
- The Automatic Millionaire – by David Bach
- I Will Teach You To Be Reach – by Ramit Sethi
Thanks For Listening!
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