Chris is the author behind the blog, Apathy Ends. Along with his wife, Chris had a student loan bill of $85,000, an expensive house and no savings.

In the last 3 years, they have paid off $60,000 in debt while building a $90,000 nest egg.

Welcome!

[3:2] So what triggered the beginning of massive debt payoff for you?
·       Graduated 7 years ago with over $85,000
·       6.5-6.8% with one at 10%
·       Had more interest than the maximum amount allowed to deduct by the IRS
·       Often you get handcuffed to living paycheck to paycheck

[5:2] How have you managed to accumulate so much in such a short time?
·       The bulk is increasing income
·       Gone up 2.5x, similar with Josh’s wife
·       Kept big costs low and not letting lifestyle inflation take over

[9:2] What do you own now that you wouldn’t buy again for its current value?
·       First house- only put 3.5% down and therefore was house poor.
·       Fortunately bought at a good time in the market
·       Beer brewing equipment

[11:14] What small things can a person do in very little time, with no money at all, to have a big impact?
·       Spending review- easy to do in a few hours
·       There’s tons of information these days- reading and acquiring

[12:3] For someone in their mid to late 20s/ 30’s who is coming to terms that they haven’t had the best financial path- what advice do you have for them?
·       Making small changes massive a massive impact
·       Increase your 401(k) and start very small amounts

[13:21] Do you track your spending?
·       Originally did monthly spending reviews and didn’t work
·       Then decided to set a goal and automatically comes out of checks so you never see it
·       Then having guilt free spend

[14:49] If you were on a game show and won $500,000- what would you do with it?
·       FI number in mind, so invest $400k into the stock market
·       $100k for College for kids

Sponsors

[18:32] Head over to chainofwealth.com/credible to get $200 off your student loan refinancing

Value Link Round (VLR)

[18:49] Why do you think people struggle to achieve their dreams?
·       People expect a “Big Bang” event that never materializes
·       Make smaller changes much sooner

[19:23] Do you have any other books or podcasts you recommend?
·       The Automatic Millionaire
·       Your Money or Your Life
·       ChooseFI
·       Stacking Benjamins

[19:44] Do you have a favorite quote?
·       Don’t search for the needle in the haystack
·       The miracle of compounding returns is overwhelmed by the tyranny of compounding costs

[20:38] Any last advice?
·       Increasing your income is vital

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