A woman paid off $70,000 in debt by following 4 simple rules

Business Insider | 7/9/2018 | Student Loan Hero
chrismpotts (Posted by) Level 3
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It's hard to get a start on life when you're already $70,000 in the hole.

One woman tackled her debt by getting rid of her cars, creating a payment plan and sticking to it, and giving up little luxuries such as eating out.

Jaime - Masters - Dream - College - Degree

Jaime Masters seemed to be living the American dream. By 24, she had a college degree and a six-figure salary, owned two homes with her husband and two dogs, and bought a brand-new car to prepare to start a family.

Sounds ideal, right? Well, along with that fantasy life came a ton of debt.

Masters - Debt - Day - Car - Student

Masters totaled up the debt one day — $19,300 for a car, $26,180 in student loans, and $24,560 in a home equity loan — and found she was just over $70,000 in the hole. On top of that, she hated her career, but she was the breadwinner of the family.

"The breaking point for tackling this debt was when I realized I wanted to quit my job and start a family," says Masters. "As soon as I got pregnant, it really amped up the payoff momentum."

Debt - Months - Masters - Dream - Life

So, she got serious about paying off the debt. And 16 months later, Masters was debt-free and living her real dream life. She became a business coach, host of the "Eventual Millionaire" podcast, and author of the best-selling book, "Eventual Millionaire: How Anyone Can Be an Entrepreneur and Successfully Grow Their Startup."

Masters now spends her days commanding top dollar for her advice and interviewing millionaires. She recently launched her new entrepreneur group-training brand OwnerBox. Sounds good, right?

Business - Coach - Student - Loans - Debt

Here's how the popular business coach tackled her student loans and other debt quickly while building a business — and how you can do the same.

Like many other people who face a mountain of debt, Masters didn't know where to start. So, she began reading books by...
(Excerpt) Read more at: Business Insider
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