Show 114 - Saving One Income to Destroy Debt with Emily Guy Birken
In this episode, I discuss budgeting down to one salary to destroy debt for a couple with Emily guy Birken
2/18/20261 min read
It can be daunting when you have a large amount of debt in front of you. Emily Guy Birken felt this way when she first got married and had a mortgage AND a HELOC that covered the down payment (It was 2005, a different time!). To handle this, she and her husband decided to spend only his salary and put her salary toward the debt. Her story is an inspiration and quite insightful. You won’t want to miss this one.
Show Notes
emily@emilyguybirken.com
Recommended Books (Amazon Affiliate Links)
Your Money or Your Life
Key Ideas
Living on One Income to Pay Off Debt is an aggressive and smart strategy
Money as “Energy,” Not Just Numbers helps us understand how this works
Intentional budgeting creates flexibility
Tracking spending is the first step to financial clarity
A curious, growth-oriented mindset transforms both money and life
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
If you are single and feel like this doesn’t apply to you (or your spouse isn’t working), there is the hustle version of this that Stacey Blackshear did. She would use her side hustle to fund her life so her main paycheck could go toward investments (or in this case debt). It is a powerful strategy for a single income household!