BiggerPockets Money Podcast $90K in Debt to Coast FI with $1.5M (Here's the Blueprint)
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Oct 21, 2025 Erica Young, a financial coach and host of the For Better and Worth podcast, transformed her life from $90K in debt to a net worth of $1.5 million. She shares her journey, revealing strategies like the debt snowball method and lifestyle changes that made debt elimination manageable. Erica discusses blending debt repayment with investing, her investment philosophy, and the entrepreneurial leap to coaching. With her insights, she shows that achieving financial independence is possible through strategy and discipline, not just high income.
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From $90K Debt To Rock Bottom
- Erica and her husband accumulated $90,000 of varied debt from student loans, cars, and credit cards while pursuing the "American dream."
- They hit rock bottom when a car died and they couldn't afford $1,500 to fix it, prompting action.
Use Budgeting And Debt Snowball
- Use a strict budget and the debt snowball to attack debt consistently until it's gone.
- Take employer 401(k) matches while aggressively paying off other debts to keep “free money.”
Stop The Small Daily Leaks
- Stop small daily spending leaks like work lunches because they add up and slow progress.
- Physically remove temptation (they froze credit cards) to prevent impulse charges.