BiggerPockets Money Podcast

From $300K in Debt to Millionaire at 39 (Financial Freedom in 8 Years!)

Jan 14, 2025

Join Bernadette Joy, founder of Crush Your Money Goals, as she shares her inspiring journey from over $300,000 in debt to becoming a millionaire by 39. She discusses her innovative three-bucket budgeting method and the snowball strategy for paying off student loans. Bernadette reveals effective side hustles that can earn you an extra $100 a day, all while working a full-time job. Discover the mental shifts necessary for achieving financial freedom and learn how to prioritize genuine happiness in your financial journey!

49:44

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Episode guests

Bernadette Joy

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Episode notes

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Quick takeaways

Bernadette Joy transformed her finances by implementing a zero-based budgeting approach that balances essential needs with some enjoyment.

Her entrepreneurial spirit led her to multiple side hustles, significantly contributing to her ability to pay off $300,000 in debt rapidly.

Recognizing the importance of mindset, Bernadette learned to view debt as temporary and manage financial anxiety while pursuing long-term goals.

Deep dives

The Impact of Traditional Financial Advice

In 2016, Bernadette Joy found herself in a challenging financial situation despite following conventional advice, such as working hard, obtaining a good job, and investing in a 401(k). Instead of achieving financial freedom, she became overwhelmed with $300,000 in debt, which included student loans and mortgages. This experience led her to realize that simply following traditional strategies does not guarantee financial success or happiness. Her journey emphasizes the crucial need for a tailored financial education that considers personal circumstances and mental health.

Intro

2min

Reevaluating Financial Wisdom

8min

Virtual Investing Opportunities for Landlords and Investors

2min

Financial Freedom Through Mental Shifts

12min

From Closet to Business: Launching a Dress Rental Venture

6min

From Anxiety to Financial Empowerment

11min

Understanding Net Worth and Embracing Financial Freedom

4min

From Debt to Financial Freedom

4min

From over $300,000 in debt to a millionaire in just eight years?! No matter where you’re at, it’s never too late to get on the path to financial freedom. This entrepreneur is proof that a little discipline, frugality, and creativity can radically change your financial trajectory!

Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with Bernadette Joy, founder of Crush Your Money Goals. In 2016, Bernadette had dug herself a six-figure hole—a combination of student loans, credit cards, and mortgages—simply by listening to bad money advice. But in just THREE years, she paid off all of her debt and has since built a net worth of $1.8 million! How did she create such an enormous swing in less than a decade? In this episode, she’ll show you the exact steps she took so that YOU can do the same!

Want to accelerate your journey to FIRE? Bernadette has all kinds of budgeting tips, debt paydown strategies, and side hustles that will help you reach your financial goals much faster. Stay tuned to learn how to wipe out your debt as quickly as possible, save for retirement, and even make an extra $100 a day alongside your nine-to-five job!