Alex Barker, of the 66 Day Experiment, shares his story of beating debt, learning to work together as a team with his wife, and the importance of willpower.

Interview Notes:

• It all started with a fight.
• They have paid off over $60K in 2 years of student loan
• The power of reading personal development books in his life
• Working as a resident pharmacist they were able to pay off $11,000 (on a $40,000 income)
• How they learned to live as cheaply as possible.
• Listen how we determine what is appropriate to discuss about money.
• How they chose to live like they were still on student loans once Alex received a full pharmacist's salary.
• How they chose to buy the home and invest in it over the long-term
• The first paycheck of the month goes to expenses
• Second paycheck of the month goes to debt
• The side business he works on every morning.
• The habits he has created to run his business and life.
• "We are what we repeatedly do. Excellence, then, is not an act but a habit." Aristotle
• He has allocated 20% of the business income to pay off debt
• And allocated 10% for an upcoming surprise for his wife (Ssssh! Don't tell.)
• What has the been the hardest thing for him to do to get out of debt. (And, telling his wife "no" is it.)
• How his parents taught him money management skills. The power of $2.50 for him.
• How they balance as a couple between the spender and the saver.
• "Willpower is one of the most difficult qualities to build, but once created, big change can happen."
• Teaching the importance of work to make money to his daughter.
• Busy people remain busy & productive to make things happen.
• The power of delegation to help him stay working on his projects.
• The 66 Days Project: Creating habits in love, wealth and health.
• Working with his mentor, determining to achieve the satisfaction of life.
• When something truly scares him and he does it- that's where he finds contentment.
• The power of a coach, and how that has helped him.
• His advice to grads with student loans? Invest in yourself first.How much he spent on his first coach while he was a resident to move forward in business.

Resources mentioned:

• YNAB
• 66 Day Experiment
• Kimanzi Constable
• Univ of London Study, Build a Habit

Questions? Let's talk: [email protected]

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The episode "Alex Barker | Has willpower. Beats debt.," first appeared on Think Enriched.