How to get debt free in 2018

Tuesday, January 2nd

If your New Year's Resolution is to get rid of your debt, then definitely take a listen to this. Debbins and Whitney have a few easy tips for cutting back RIGHT NOW, and they also talk to Chris Konya from 98.9 The Buzz about how he paid back more than $22,000 of debt in less than 6 months.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Happy new year Whitney Young can you hear. I'm not to campaign for spare change. First one of the year bond as a podcast were re you know help you live crazy awesome life right well still saving money at the same time millennial money saving tips like Dallas 101 my name is Chris Evans and that is where the on on so what is the biggest financial problem that people have. I think he'd probably get right on that at least a huge one so we're thinking and let's make twenty teens New Year's resolution. Debt free as you know if they had if that's your goal when I help you get there. I'm sort of re talking actually with a coworker Mars was really done something really impressive he his take on this challenge the past year. Where he has gotten about 20000 dollars out of debt. Anything he did that like six months so amazing payback I think 20000 dollars and then six months. Odd sort of talk with him a few minutes did you give us his tips what works for him yes com the first how much is the average American have in debt. Well. According to my calculations. It is it's 137000. Per household amid that the average American household debt amounts she. I'm office discuss its disgusting meanwhile the median household income is only 59000 so that's what that's over twice. OK so clearly people are living beyond their means wade beyond their means. The main sources of debt our mortgages student loans auto loans and debt and got credit card debt. And mole hills or like end of the worst when. For the worse and worse in general and services. Especially that it's a compliment but the average millennial college grad for instance has. 37000. Dollars. In student loans as of 2016 according to time dot com and millennial net is actually so bad it's such a crisis Baja. That a recent study revealed that four in ten millennial. Would rather confessed a private health concern then confessed how much they oh okay civil and it was a rather admits he would have herpes and Eliot. Then tell you how much. By the money they haven't done a new year I go I'm always my mind always goes the herpes it always goes there is any time there's any opportunity goes to her piece I like that but that's the truth honestly. That and that's crazy that is crazy. That is he's at 37000 dollars a student loans yes that's more than a lot of us make a year it's more than half. I hear it's easy to China that so born trying to be do that today I think the general consensus is what. That's not that that's terrible at it up now on don't wait to hit so here's what you could do starting today. A first step to stop adding to the debt us right stop making those expenses. Five easy ways you can come back and expenses to date to help start him after that first one and these are the easy things but there will add up after a while the first thing is. If you go out to eat which go and I deed in general probably. Not the best thing to do appear increased debt but we we'll do it right right don't order alcoholic beverages or if you have to gear out politics or just want. That's not gonna say this one yet because if you go to dinner and are set yeah if you go to dinner like it's in that's kind of hard to say don't get a drink because most people are gonna wanna have a glass of wine or whatever but let me yourself to one hand. You know he did the house the house well well drinks and house wine. And that'll save you some cash there. Then this is on the that I do. I've I've found that I sit on my do on this. Is behind the store brand products at the grocery stores like wegmans wegmans during my jet so I just I just switched to wegmans brand oatmeal. And opposed to the Quaker oatmeal and taste the exact same culture and it's about a dollar fifty cheaper. ID prefer. Wegmans brand is usually over at. That actual brand you know. Effort at some of them are actually made by the same manufacturers and parts of you your paint your paper like the fancy graphic design you are. On diet like. Cheerios box on average they are 25% cheaper. And according to business insider and the way that they can make it cheaper and still be of equality is that they're not spending as much money. On the advertising costs of research and development they can skim off of that and make the product cheaper so just be a nice blank cardboard box so I need. Almighty and all it doesn't like we what are Cheerios toasted oats it's up my belly yet right toast at those yes on behalf. This is on the net in the third thing is in the Whitney does agree to me on. Don't buy new clothes for God's sake. Tell somebody that people are gonna keep but you gotta be reasonable people are gonna keep buying new clothes while so instead say you know instead public a whole new wardrobe every season limit yourself to. I'm gonna get. Three I mean get three new tops. Instead of like an entire new orders for U tops. Or you get out of debt sooner how that OK well. Let's let the masters are you still growing every year. You really need out and let I fluctuate our dear you are right and what's great okay you doctor. It is so if you're close don't have holes in them. They have a meter not craziest Alec if you're wearing my bell bottom pants fine if you close okay the size that's elect I Wear this shirt I can think of the adventure for years. US looks clean and nice flame like Burgundy sweater on nobody would ever know what year you got thank you could have gotten that 2010 no one would now. So that's great so how this instead of never buying new clothes again. When you do buy new clothes get things that are like not a certain style classic timeless that's what you. Us apart yeah exactly exactly at. Consider if you can get in a room mate instead of living alone instead living alone doesn't and I've been thinking about doing but. It together. Could with a week I say that but it was more a question like we lived again you're China lake fuming out this yeah. I even extra bedroom amount to extra bedrooms that Kenya's lake were both very very clean and neat and ha neurotic so in that way it would work. I don't know is that attitude neurotic people on the same household I don't know it could work I mean it could really work but. We can apply you consent and inclusion in an application landlord will review it which is gonna. The one thing is that what that is you should take into account make sure the person is someone you want to live with because I think if there's. I was looking at you of the because there's going to be set for. There ain't about me acting like you're talking about me while I'm looking right at you and are learning it mean you're saying save on your mental therapy bills. And then finally I think this is like the biggest thing charts it's very. Obvious that a lot of people forget I think she can't parents yeah. Right stop crying because she you know I don't I tell you your eyes and can close every season I don't buy new clothes every season. But just winter and yeah I read spring like for instance my credit card is it's a chase credit card and it's called the freedom. It's all the freedom card which is such a joke because then it is tricks your line in the thinking of the freedom to buy all this stuff but you don't. Here's another thing that is is. Eye opening to do it and every month if you actually look at your credit card statement and look at what you spent because sometimes you don't even notice he's. Like this like that yeah and if you like circle highlight what all the things that you really didn't need yeah you'd be shocked. So the sponsor to give trouble not spending get a sponsor state. A threat that the given addiction when it comes your clothes shopping adieu I. I intervention serious intervention Whitney really. Maybe you know. Wal-Mart and it was 799 and looks fantastic timeless and it drastic think you should don't talk to me a well you know not being fiscally responsible you there are ample listed is if you can. The Corning cable you'll save a lot of money yet and yeah I just Netflix anyway it's purple Cadillac people's on cable with Netflix Hulu gets when these difficult task for you now at record Brett so. Anyway it's quite easy five and a half forcing five and after easy things you can do there to start today so we gonna bring out one of our coworkers who. Really has until an awesome he's doing a blogger now called zero debt thirty. On Asia's Baidoa that his goal he's twenty years old to try and gets you. Debt free by thirty years old welcome Chris Kanye who has also been really impresses you pay off about what 20000 dollars in debt in the past six months. Suze 20000 dollars in six months from June. On silently the exacted its April. Fourteenth. Until about November day out who that's crazy it is. It's perfectly doable. Well that's already on here today I want we were up we have you on not champagne for spare change should help. People give them some of your expertise me some tips because. That although yes but you say very doable now for the not double dip. Well a lot of it's who all of its mentality I mean it Evers like everything I am going to the gym is a mentality. It's easier goal and then and work towards your goal when you feel like it. It's really about the days that you don't feel like it right like you say you wanna go to the gym three times a week let's compare to that because that's that's probably something that a lot of people wanna deal. Sure it's easy to go to the gym when your psyched about going to the gym Monday you know after work because that's the start of a new week but. Wednesday when you're tired because you work late last night those are the moments that add up. Either direction whether you go we're not way the U. Mom. A little skit brunch on Saturday and my my girls are going out to brunch in this get this Saturday he's got all your co. Probably on the they don't every Saturday but they did if it's a financing of its have its saving money or or trying to save up to buy something or whatever are cutting debt and most importantly. Yet this Saturday I'm I'm Dennis I'm gonna skip brunch because. On I set a goal on Monday two to better my finances. Okay what about three Saturdays from now when brunch is adding new. Is the most important thinks up like that. I love I checked out your series zero debt thirty and what you do such great job but is showing. The ugly exhausting side like there'll be clips where you're just coming home from. Your bar tending job and it's 2 in the morning you're exhausted you did your radio show at 4 in the morning that day. And you you know what you're saying it's easy to Sam's gonna get a second job it'll be fine but you have to take into account the days that. You wanna call out oh sure your back hurts your head hurts their social stuff going on you wanna be up that you want to like engage in whatever you you're. Sacrificing all of that and death ongoing. Yeah I mean. It's again it's about what's your boy your priority is it's about mentality and there's plenty down is where I got an item is over the summer. Which in Rochester. You're listening from out of town or state it's. Summers are very precious substance get a slot three weeks a year if that decides the sun's out. The skip all day all your friends got a ball the other rich uncles all to go in and RO cooler gulls sit on the Laker whatever bits that's that's hard to deal that's super hard. Or mystical wedding artist or to not on vacation or or whatever it may be. And also. Once you start getting into it arm there's nothing more addicting in the results in just like again I go back to going to the gym because it's the same it's the same high I think not but I would know yet but that's my plan for the but. It's when you start to see that little in dent in your in your stomach for if you're trying to you know get a six pack adds the V I get the V when you get that gave me. When it's okay what it's like. Look you don't know anyway it's really really like gosh this is working exactly when you payoffs to you know 50% of your car loan on a year earlier like holy crap this this is working that's the most addictive things that progress subtle so how far are you now in your goal. On the I'm just about done. How he's incredible yeah I'll be done in the next couple weeks and I'll I'll put out a final video recapping everything but. My original dead of course you know you you might you change metallic right now. On instead of putting things on a credit card because I have to do because I want to because of sports and stuff like that it's financially Smart to do that and what we kicked into gear for the whole thing as well the sitting on an airplane. Going a vacation that I couldn't afford last January where. We are going to allow him to come out last night's 4000 dollar vacation or something which has. An astronomical amount of money that Brett when I had 30000 dollars and that that was a pretty dumb move. But you know let's see it's easy it's tempting so we outcry deserves CEMEX lie but I am. It's an airplane they came around like we have this great credit card offer where he can get 30003 mile points whatever it is awesome advantage and I'm like OK maybe I should start getting. Getting rewarded for using the credit card saws and out plus for militancy to 80%. Approval rate in whom little plot to discredit 30% of approved I got a letter to be some familiar tonight telling the harassing. Some almost thirty and I can't get approved for credit card are you you're not you're not thirty right I was 27 at the time somebody now back so the close to get out of debt I thirty but I and that's all that's where the name comes from zero debt thirty your blog it's on YouTube where else -- people find it FaceBook that's on a personal FaceBook page for the easiest way to find a muscle series is on YouTube but yet. So I got the knife electric arc and ice are zero to thirty and within ninety days starting serve at thirty wiping out and dangerous crushing noticed that. Guess what comes in the mail and offer from my credit really don't. Mutual clients on my fridge right now she frame it I. Yes we got pretty woman I don't think you shopping started. Shaving so if you don't mind me asking where you considered this word of the Balkan your debt come from. I had down. Collections that everything is ugly is collections com and doctors collections that I just ignored the bomb old cell phone bills in LA back in the day before they made you pay for the whole on the TV this deal where you get you know he went nine for new iPhone that you had to sign a three year contract for advertised billing or every right so then I would leave that cell phone company go to another one and they would charge me for breaking the contract that would never pay it would don't collections and I would. Just accrue all this that ugly desperate cellphone bill from like five years ago. All the way up to current debt like up a car payment. I had on credit cards just like everybody at the student loans which. All other right but that's armed yet just normal nothing crazy I probably paid. This summer dorms or at thirtieth probably paid for repair genes I bought like 2010. I think it's just kept rolling and it's those credit card companies are designed to make money they don't care that you can get. That dress for you know that school dance or that wedding that dream whatever your don't care they don't care don't care. Your dream big don't they care about. Now aren't they care about you racking up that bill and now and then charge you crazy interest rates and extra charges because you only need it and him there in the business to make money so. My advice if your pitcher before all this is that really really getting into when you sign up for car loans student loan especially at credit cards up like gas. Tucker write your motivation. What exactly dawn of the nuts and bolts did you do it means you get extra jobs did you. 20000 dollars is not easy idea have the luxury of having a job where I work early hour so I do have a majority of the day that people don't. You work other job site I do handyman stuff on the side mostly climbing and that helped a lot having that trade from what I grew up now with you know work of my step dad and stuff. On and then. I got a job that doesn't get bar tending serving I was taking ditch is I was wasn't saying no it wasn't spending the biggest. Thing you can do in your control if you were in debt right now or if you want to live a lifestyle where you don't spend as much money is these food that's cooking at home. Yeah cook it it's not hard. Go to buzz ski tasty videos from follow step by step to train go by 820 dollars and shaken at the beginning the week ending DeVon is a pro at this hasn't. I keep us from month like exactly ten years later. Do an experiment with yourself but hey cook at home and eat at home whether it's only down around noodles and you'll have to do Rama noodles it's not. Not like it's not like here you know if the state college forever or if you're out here back in college it'll have to do that you couldn't. Real threat you can have breakfast and lunch ready to go frozen breakfast sandwich is what I do every week still and I can afford to eat out now I do frozen breakfast sandwiches and and Alec chicken and rice and vegetables and a little Tupperware container I eat that every day Monday through Friday and it cost me like twenty dollars for all ten meals because it's five meals. You know twice today show. I I feel like bar tending is something there and you know the handyman stuff not everybody can learn yeah. But I regret I mean that's the serious street are tending pretty much anyone can learn so hard was it now to like him alerting her I've done it briefly in the black. Ups so now. Yeah definitely I mean how how hard was it to learn that get good about it and then start really breaking in the. Tips its mentality I mean it's. It disappoint you know it's not a dull it's not just a dumb bar tending job you know once a week like it's somebody else's hold bread and butter in her life like whoever owns that bar. It's their livelihood and you taking it halfway serious is messing with the Latin that so if you dive in all the way which is kind of rare nowadays. He'll get noticed and you'll get the better shifts and stuff like that you just gotta. Does he have to sit and read a book on and on how to make an Alabama slammer it's not all they can address it's really good though borrowers want the mentality. That the positive attitude and and and you know obviously showing up and stopped. So now they are pretty much every year you're in the green right I mean your employer on your debt. Are you going to cut back some of these jobs with Gillette can look like now are gonna start on a brunch at the girls Saturday at the I'm Michael this Saturday because as you piece showed that open. I love still aren't I mean seeing the progress of paying off debt from from negative 22000 on the zero. I'm telling you those results are so addicting the more addicting than the potential memories that you feel like you're missing out on a once during that drying of you know three weeks to maybe takes you three months to get into that into the into that high of a seeing results. It's addicting it's hard to give up so nominee continue to work as hard as I've been it to go that far into the green to 22000 in the green to 250000. In the green and then. Whatever comes after that you know how. I'll put to con that's I'm gonna buy food yeah. It's funny golf I think that's well like. Amidst all of this had their like honestly I'm sure there's been some level like social sacrifice give you that any like real issues rarely. You lost a friend or something like that obvious that Thomas stuff I mean. The thing about guys is we don't without having not to be but not to be. Now you sound like the rest none of their where's the whip it I think hold each other accountable more in maybe some guys wish they had that. On an emotional. Relationship with their guy friends but does this week it's eagerly each oh yeah and I see in six months and jump back and get great group have a beer and that's it ran about. Then the drama of you know you're talking to me at that didn't go live like that that's that's fine and there's there's some guy friends that I may be wish I had that relationship with and it goes both ways but. I'm not really. Now my my girlfriend has been very calm very good about me being. Were real busy so much and soft and it's not the place where she's. Keeps itself busy she has picked up a second job we've reformed her financial budget and our way of aren't they let's he has and in the switches and listen to this which gets 50000 dollar does its kind is this gets 50000 dollars in student loans and all man. And that's a mean one of the biggest things to look at a desk. Her plan I think if you look on their website where she makes a student loan payments that'll say expected payoff it'll be like 2032. Were completely ridiculous aren't you making minimum payment and I know it's hard to make more than listings those things are high there's more than one and I've I've never had them but seeing. What she's going through. And Sheen has a full time job she makes just as much as me you know nothing nothing too crazy it's utter poverty level but it's not in all not. You know I'm not sails everything like that or making six figures ranks right Brett. Anyway we reformed her debt to where now she. She's unattractive paid off in like three years that's great amazing for her organization and executioner preset aligns our debt thirty those videos it's all about. Org and yet that what I didn't beginning with I called all my bills everything O. And has continued and I knew I got paid the first and fifteenth from my full time job. And I I I mean it's so. Every bill was do we there on the first of the fifteenth and then I set up auto pay for all those bills so now when I get paid say I get. Say get 800 dollars every two weeks take home usually from my full time job. By the time I open up my app on payday I have to wonder and twenty dollars left because it's all of -- gone right up doesn't well Don forty dollars for the deal for a week right Monday comes around and typical Friday crap I've forty dollars my way out yeah so why not do that over and over and over and over and over and over until we make progress you've done that you can do it he's an idea so just Atlantis that's huge wrecks do you. You organize your budget and and execute on executing unions being diligent to use those payments. Every paycheck and I don't have the discipline and never did so that's why it's an auto pay I'd sit made sure that I had no shot of spending it and having that excuse OK I'll just working extra shift next week in and spend this money this week and I'll get back to where now know that doesn't work that so. A summer someone. In 2018 that's gonna make it their New Year's resolution to do what you did what maybe you know three pieces of advice would you give them. To start doing that's January 1 wake up at about 4 PM because you know it's it's okay yeah second. Wicket before for HI yourself. I don't. Right bella starts. A specific day and it was so close to the in the air I would I would call that crap and say start right now but you know I get a realists are fresh and eighteen enjoy the holidays bright organize an excuse to call those call you bill figure out where you are fear how much you take home. Figure out what's doable and spend the money on the stuff that you need to reach your goal to to Wembley if you're paying off debt let's use the example that I am most close vote it's on with. Don't leave yourself. A little bit of a cushion and I know that people like you know your parenting group canceled they say that's crazy but I don't have the discipline. To have elected to have that cushion uses as a cushion he's on something stupid itself. You have. 800 dollars that you could spend on paying off debt to the penny. Spending 800 dollars so get organized in the Mexican on organization I would say that's number one number two look for an extra source of income. When you get out of work at 530 dual find something to do from six until ten or six until midnight and may be that sacrifice is an hour sleep for two hours sleep but what you want. What do you want to be right 100% well rested a war. Do you wanna make progress and by saint Patrick's day of next year. Eve 5000 dollars closer to paying off wherever paying off or saving for your savings for so. Duplicates and kind of citing you if you can't if you don't have it's still argued are comfortable in front of people. Flip stuff go find out what is of value go tool marshals go to our goodwill. And you could go on your phones has real Smart Willis Martha because that is a priority became cut that out. That's right and you can go at violent things what things worked on Amazon or eBay and know that you're making whatever profit for a a matchbox car that's rare. Is being sold marshals from. For three dollars and fifty cents and they sell for thirteen dollars and fifty cents on eBay by alt tent in the store and making you know. Make your make your 200 dollar profit right pixels like that adds up as on the garage sales and stuff like that so there's plenty of sources of income. On an aside from just getting another payroll on the books jobs have been on deathly do that and on the I would say out of state state state focused as it's easy to do January 1 it's easy to use January 15 to get slow hard January 31. You know when when Valentine's Day comes up and you wanna you wanna do something that weekend or parade it comes up and you wanna. Spew and you'll take it out because you've been working so hard for. Three months. Don't don't pick up the ship it back at a downtown bar operate day and make your 250 bucks to import and holidays in my that holiday pay. Better yet sell. You're gonna sacrifice and stuff that seems like you're sacrificing more than you actually are I mean think about all the times. He decided are barely get a drink a lot tonight. Because all my friends are and in game one awesome memory from. 10% of those nights and we missing anything all right let's say anyway I hit 823. But it tiger's thirty it's the same thing all the time it's it's saying nice guys going at it right argot that are here have administering to go on that front you're not it's gonna be more. You're you know you're gonna miss some but there's gonna be ten times moral rafter so organized execution pick up that side hustle. And stay focused 30609020. Days and. Chris guy thank you so much for coming on champion for spare change here on my 999 was plumber bartender got everything he doesn't sleep. You're raising Daily Mail via off my gosh that is sole. Inspiring I'm inspired so exactly. What. What is the most impressive is that. It's like I said you know to Chris like it's so easy to say I'm gonna do is gonna help us money it's gonna be awesome in the first couple weeks you're on fire your role. But what really tests. Your commitment and your perseverance is the days when you're tired the days when. You're going through some sucking your personal make sure you're not feeling it you don't wanna go to that job you keep going you don't quit. On an acting Chris really. Displays like. Tunnel vision dedication throughout the series gran and is he regular guy like I mean you know. It really shows that if you set your mind to something. Anyone can do it and that's so that's that's the big take away you know anybody can do. Whatever they set so cheers to twenty teen. Debt free you can do it and you know let us know hired gonna be take on this task yes you know we're curious how you're doing your progress is gonna get good tips to share the the people that we can then share with. Our listeners on champion for spare change you can you know TS I'm not at seven studied PXY and I'm at we need young. Sweet happy to yes.