Beyond The Rut Podcast

Michael Lacy started his marriage with $61,000 in consumer debt and shares how he and his wife created a debt-free lifestyle while winning to wealth. Debt-Free Lifestyle What is it like to be debt-free? Nothing can keep us from our financial goals like consumer debt. The idea of having what you want now and paying for it later with interest binds you in a way that prevents you from putting money aside for that next vacation or towards your retirement investing.  The average American has over $45,000 in debt and lives paycheck-to-paycheck. There’s no rule that says we need to be normal.  That was the decision the Lacys made on their honeymoon. They learned how to become wealthy by learning how to become debt-free. This episode explores how Michael and Taylor went about the following steps: Stating their values Creating their goals - financially and otherwise Implemented a plan to pay off all their $61,000 of consumer debt in 16 months Saved six months’ of expenses to prevent a backslide from using credit again