[2:46] First, what was going on with your debt? Can you tell us your story?

• Made some choices that were really beneficial to her-
  • Lived in dorm only one year  then lived with roommates
  • Applied for a ton of scholarships and programs
  • Worked and paid during college
  • Once she got her disbursement she always put it right back into the loan
  • Parents took out loans as well

 

[5:40] What did you find most challenging when paying off your debt?

• Moved back home
• Wanted to go to Grad school but she had to decide what the next steps were
• Tawnya didn’t like owing money to people

 

[6:57] What lifestyle changes did you decide to make?

• Lived frugally
• Having side jobs helped a ton in getting  much more money coming in

 

[13:18] Did you qualify for any loan forgiveness?

• Tawnya took a slightly different route when she didn’t get into grad school
• She went back to school to get a masters, she built up quite a bit of savings for her masters, she paid out of pocket!
• Tawnya did qualify, however coming out of the recession, she was worried about finding a job so didn’t end up applying for it, however she could’ve actually received it.

 

[19:2] What would you recommend to someone who is trying to pay off their debt?

• Increase your income or decrease your spending
• Make extra payments often
• Figure out ways to increase your income like side hustles

Sponsor:

 

[20:55]

• If you haven’t already check out what a qualified retirement plan is, you can sign up for a free book here.

 

Value Link Round

 

[21:48] What is your savings or retirement plan?

• Most teachers have a pension plan that they’re paying into in Oregon it’s called PERS
• Been paying 6% of her salary into the pension plan
• 403b account (similar to 401k)
• Opened up an IRA
• Opened up a Vanguard account
• Bought a house recently, the real estate market has been really hot.
• Looking to buy a rental property

 

[26:39] Do you have a favorite book?

• Book: Financial Freedom by Grant Sabatier
• Book: The Richest Man in Babylon

 

[28:49] Favorite quote you like to live by?

• Money Saved is Money Earned

 

[29:39] Any other parting piece of guidance?

• Start early on

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