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