Show 67 - $150,000 in Debt to Financial Freedom as a Teacher with Joel Allen
In this episode, I talk with Joel Allen about intentionality and how it allowed him to get out of debt and become financially free in less than 10 years with kids as a teacher!
1/8/20251 min read
Financial freedom can seem unattainable for teachers. We have low salaries for our educational attainment and relatively high debt loads with student loans. But Joel showed that it is possible to pay off debt and build financial freedom as a teacher by tapping into your teacher Genius. Find out how!
Show Notes
Radical Personal Finance Podcast
Recommended Books (Amazon Affiliate Links)
Student's Friend Concise World History by Mike Maxwell
The Simple Path to Wealth by JL Collins
Dave Ramsey’s book The Total Money Makeover
Key Ideas
The debt snowball works if you can make a gap between your income and your spending. Try to avoid life style creep.
Teachers have all the skills they need to be entrepreneurs already.
Be creative on how you get something you’re looking for, it will save you money, and might even make you money!
The point of having more money is to be able to design the life you want.
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
The summer is the ideal time to try your designed life. What would it look like to live the life you want? How much would it cost? How will you feel when you do it? Give it a shot for two months and see what happens! We are blessed as teachers to have that built in to our yearly schedule.