424: How This Teacher Squashed $20K in Credit Card Debt and Hit Coast FI by 32

BiggerPockets Money Podcast

English - June 26, 2023 06:00 - 1 hour - ★★★★★ - 2.8K ratings
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Previous Episode: 423: Burned Out? How to Quit Your W2 Job and Still Achieve FIRE

Next Episode: 425: Financially Free in 4 Years by Making One VERY Smart Money Move

Coast FI by 32 after racking up $20K in credit card debt only a few years earlier!? However unlikely this turn of events might seem, the truth is that any money story can be turned on its head with a little financial know-how and good money habits. And today’s guest is living proof!
Having accumulated $20K in credit card debt by the time she graduated from college, Yanely Espinal wasn’t exactly on the straight and narrow path toward financial freedom. But after reading Suze Orman’s Women & Money, Yanely was inspired to take control of her finances. Within 18 months, she had not only wiped out her debt entirely but also catapulted herself toward financial independence—a goal she would achieve before her 32nd birthday. Yanely has since made it her life mission to champion the financial literacy movement and push for financial education requirements in all states by 2030.
Whether you’re at a crossroads in your financial journey, waist-deep in consumer debt, or well on your way to FIRE, there’s something for everyone to take away from Yanely’s story. In this episode, she shares her game plan to getting out of debt, achieving coast FI, and the keys to improving financial literacy in schools. As always, our trusted hosts Mindy and Scott join the conversation to help demystify several money topics—from overcoming generational poverty to creating multiple income streams and more!

In This Episode We Cover
The dangers of high-interest credit card debt (and how to get rid of it!)
How to achieve coast FI as soon as possible and retire comfortably
Breaking the cycle of generational poverty in the United States
The THREE keys to improving financial literacy in schools
What YOU can do to help propel the financial education movement forward
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott's Instagram
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
From $50K in Debt to Financially Free in 2 Years w/ Lots of Ups & Downs
Compound Interest Calculator
Grab Your Copy of “Women & Money” by Suze Orman
Grab Your Copy of Yanely’s Latest Book, “Mind Your Money”
Track Your State’s Movement for Financial Education with the NGPF Bill Tracker
MissBeHelpful Website

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-424

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Having accumulated $20K in credit card debt by the time she graduated from college, Yanely Espinal wasn’t exactly on the straight and narrow path toward financial freedom. But after reading Suze Orman’s Women & Money, Yanely was inspired to take control of her finances. Within 18 months, she had not only wiped out her debt entirely but also catapulted herself toward financial independence—a goal she would achieve before her 32nd birthday. Yanely has since made it her life mission to champion the financial literacy movement and push for financial education requirements in all states by 2030.

Whether you’re at a crossroads in your financial journey, waist-deep in consumer debt, or well on your way to FIRE, there’s something for everyone to take away from Yanely’s story. In this episode, she shares her game plan to getting out of debt, achieving coast FI, and the keys to improving financial literacy in schools. As always, our trusted hosts Mindy and Scott join the conversation to help demystify several money topics—from overcoming generational poverty to creating multiple income streams and more!

In This Episode We Cover

The dangers of high-interest credit card debt (and how to get rid of it!)

How to achieve coast FI as soon as possible and retire comfortably

Breaking the cycle of generational poverty in the United States

The THREE keys to improving financial literacy in schools

What YOU can do to help propel the financial education movement forward

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE