Episode 185: The 4 Steps I Used To Pay Off Six Figure Debt In 2.5 Years

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Hey there, I'm Dr. Latifat Akintade, your host on the MoneyFitMD podcast. This is where I'm all about helping incredible women physicians, just like you, take charge of your finances and build wealth from the inside out. No more stressing about money - let's create abundance and make a real impact!

Today's episode is a game-changer, especially if you're grappling with debt. I've been there, and I want to share how I managed to pay off six figures in just 2.5 years. 

But first, let's talk about debt. I don't see it as some evil force - it's a tool, much like a knife. It's all about how you use it. 

Back in the day, I had hefty student debt, just like many of you. I set out to pay it off in five years but ended up crushing it in 2.5. After that, I decided to venture into real estate, using a different kind of debt - one that built assets and was carefully leveraged. Finding that balance is crucial, and it's something you'll need to tailor to your own life.

In this episode you will learn:

• How to focus on tackling high-interest, liability-based debt, and leveraging the kind that can help build wealth. It's a strategy the wealthy use, but always with caution. You don't want to bite off more than you can chew.
• How to craft a plan that's both reasonable and doable. Give yourself some breathing room. I gave myself five years, and it worked wonders. 
• How to automate the plan. Set it up so you don't have to think about it every month. You'll thank yourself later. 
• How to know your numbers. How much are you really spending each month? Break it down - rent, utilities, groceries. I even haggled bills and switched vendors for better deals. It's all about making the math work in your favor.

Remember, there's no one-size-fits-all plan. The best plan is the one you'll stick to. And a little tip for success - share your goals with someone, find a community, and cheer each other on. That's what we do in my community, and it's why our women physicians thrive.

So, dive into your finances. Assess your debts, figure out your plan, and remember, you've got this. 

 And if you haven't already, snag my video guide on creating your Seven Figure Life at www.moneyfitmd.com/tmd

I'm rooting for you, and I can't wait to celebrate your victories. Take care, and catch you soon

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