6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

The hosts of the podcast are recording live from FinCon 2017, a financial conference for money media. They express their gratitude to the FinCon Podcast Network for sponsoring their live podcast recording. They introduce their guest, Sarah Wilson, also known as YouTube\'s budget girl, who shares her story of paying off $33,000 of student loan debt on a salary of $26,000 per year. The hosts express their admiration for Sarah\'s achievement, as many bloggers who have paid off debt often have higher incomes. They highlight Sarah\'s ability to cut back on expenses and increase her income through delivering pizzas, emphasizing her determination and hustle. Sarah explains that she made sacrifices and became a master of her money to meet her goal. She shares her experience of losing her job and being on unemployment, which motivated her to get out of debt. Sarah discusses the overwhelming feeling of having a large amount of debt and offers advice on how to approach the journey of paying it off. She emphasizes the importance of not just making minimum payments, but also making major cuts in expenses and finding ways to increase income. Sarah shares her personal experience of taking on multiple second jobs and finding creative ways to save money, such as secret shopping for fast food restaurants. She also discusses how she cut back on expenses by meal planning, shopping sales, and inviting friends over for budget-friendly meals. Sarah further explains the importance of having friends who understand and support your financial goals, as well as celebrating milestones along the way to stay motivated. The hosts and Sarah discuss the rewards and motivation that come with paying off debt, and how it allows for a greater appreciation of life and the ability to treat oneself. They also touch on the difference between the debt snowball and debt avalanche methods of debt repayment, with Sarah sharing her preference for a combination approach. Sarah answers a three-part question about the timeline of paying off her debt, revealing that it took about a year to pay off the first $4,000 debt and about two years and a couple months to pay off the remaining $26,000 debt. She also discusses how her credit score improved during the process and the advantages she saw in terms of opportunities to get more jobs. Sarah shares that life after debt feels like flying and discusses her current financial goals, including saving up a three to six month fully funded emergency fund and eventually investing, traveling, and living. She reveals that she is currently living in College Station, Texas and working as a communication specialist for Texas A&M. Sarah also talks about her career aspirations and how she enjoys reporting on the achievements of the next generation. The hosts ask Sarah their famous four questions, including her favorite finance book, her biggest money mistake, and her advice for people just starting out. Sarah shares that her favorite finance book is "Total Money Makeover" by Dave Ramsey and that her biggest money mistake was taking out more student loans than she needed. Her advice for people starting out is to take control of their finances and make a budget and plan for their money. The episode ends with the hosts expressing their appreciation for Sarah\'s interview and discussing their favorite tips and takeaways from the conversation.