PPP075: From Student Loans to Money Mastery with Whitney Hansen

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Whitney Hansen has a background in accounting, but it takes more than just knowing about money to succeed in personal finance. In this week's episode, we talk about taking action around your money on the path to profitability.

What We’re Chatting About This Week

This week's guest Whitney Hansen has always been interested in money, hustling, and self-improvement. After getting an accounting degree, Whitney made a serious budgeting plan to get out of $30,000 of student loan debt in 12 months.

Whitney rented out her house (that she bought when she was 19), sold her furniture, and lived on a ramen budget and paid off her loans in just 10 months. Yes, $30,000 of student loan debt in 10 months. That puts my student loan payoff ($40,000 in two years) to shame!

Would she do it again? Absolutely. “I think it's the greatest thing I've ever done for my financial life.” She proved to herself with that sacrifice that if she can do something amazing. If she can do that thing at 21 years old, imagine what she can do in her financial future.

At the end of the payoff, she celebrated with a trip to Hawaii where she hiked all over. I love this success story with money. If she can do it, you can do it!

Next we get into side hustles. If you're a new listener, check back to the archives for some awesome side hustle and entrepreneurial inspiration and advice. I share the details about one side hustle where I found a box of records by the dumpster and turned it into hundreds of dollars in my pocket.

You can always earn more, but you can only budget so much. Remember that when looking at opportunities to fix your finances.

If you are in debt, weighing savings versus debt payoff is tough. Whitney suggests saving at least your insurance deductibles in cash just in case you need it. I am a big fan of saving an emergency fund before go all-out for your debt payoff.

From budgets to entrepreneurship, this is a fun episode. I hope you have as much fun with Whitney as I did!

This Week’s Sponsor

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This Week’s Guest

Whitney Hansen is a personal finance coach and entrepreneur. She teaches overwhelmed millennials how to pay off debt and be financially independent. She gives them the tools to have more fun with money while sprinkling in a little silliness. Some of her accomplishments are paying off $30,000 in 10 months, buying her first home at 19, and paying $472 for her master's degree.