Alex Barker | Has Willpower. Beats Debt.

Alex Barker, of the 66 Day Experiment, shares his story of beating debt, learning to work together as a team with his wife, and the importance of willpower.

Interview Notes:

It all started with a fight. They have paid off over $60K in 2 years of student loan The power of reading personal development books in his life Working as a resident pharmacist they were able to pay off $11,000 (on a $40,000 income) How they learned to live as cheaply as possible. Listen how we determine what is appropriate to discuss about money. How they chose to live like they were still on student loans once Alex received a full pharmacist's salary. How they chose to buy the home and invest in it over the long-term The first paycheck of the month goes to expenses Second paycheck of the month goes to debt The side business he works on every morning. The habits he has created to run his business and life. "We are what we repeatedly do.  Excellence, then, is not an act but a habit."  Aristotle He has allocated 20% of the business income to pay off debt And allocated 10% for an upcoming surprise for his wife (Ssssh!  Don't tell.) What has the been the hardest thing for him to do to get out of debt.  (And, telling his wife "no" is it.) How his parents taught him money management skills.  The power of $2.50 for him. How they balance as a couple between the spender and the saver. "Willpower is one of the most difficult qualities to build, but once created, big change can happen." Teaching the importance of work to make money to his daughter. Busy people remain busy & productive to make things happen. The power of delegation to help him stay working on his projects. The 66 Days Project:  Creating habits in love, wealth and health. Working with his mentor, determining to achieve the satisfaction of life. When something truly scares him and he does it- that's where he finds contentment. The power of a coach, and how that has helped him. His advice to grads with student loans?  Invest in yourself first.How much he spent on his first coach while he was a resident to move forward in business.

Resources mentioned:

YNAB 66 Day Experiment Kimanzi Constable Univ of London Study, Build a Habit

Questions?  Let's talk:  amy@thinkenriched.com

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The episode "Alex Barker | Has willpower. Beats debt.," first appeared on Think Enriched.