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Alex Barker | Has Willpower. Beats Debt.

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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.  

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        Think EnrichedBy Amy Robles