Leo's Story: Paying off $224,000 in debt in 2.5 years | Ep. 4

04/26/22 • 32 min

Are you a couple who is looking to get started paying down debt and live life financially free? Are you looking to make money outside of your 9-5 job? Are you searching for a better system of accountability and goal tracking? Do you need life insurance? Step right up and listen to the latest episode of The Better Wallet podcast, hosted by Marc Russell.

Marc Russell is a money management coach who helps others budget their money, pay down debt, and generate wealth. The BetterWallet podcast introduces us to other entrepreneurs, such as Marc, that share similar visions and ways of building wealth. And today's guest, Leo Jean-Louis, is sure to get a lot of couples excited about their futures. Leo is a friend of Marc Russell and a fellow money management coach. Leo and his wife, Faith, are the founders of the Freedom Is A Choice Movement. Today, Leo is going to answer some very important questions for couples looking for ways to pay down debt. You won't want to miss this.

Leo and Faith come from very different backgrounds. Leo's mother worked around the clock just to make ends meet. This instilled some strong values in Leo, who started working during high school. On the other hand, Faith was fortunate enough to have parents who had built wealth, which allowed her to shift her focus towards other things such as education. Leo and Faith had two very different viewpoints towards money. Naturally, when they met, these views clashed. They were forced to answer the question many couples have, "How can we work as a team to pay off our debts, manage our money, raise our kids and build a life of wealth?"

Chances are, you don't want to work for the rest of your life, and neither does Leo or Marc. Leo explains some key habits and ideas that couples or anyone else can adopt to help live a debt-free life.

Leo says, "The choices that we make today will determine the life that you live tomorrow."

Leo reveals that couples should establish a goal first and then let the goal dictate the habits. Make the goal fun and exciting, and remember to hold each other accountable. Develop a system to keep track of your progress and give each other feedback. But also be sure not to deprive yourself of something that brings you joy. Celebrate the small wins too!

Also, make sure you get a life insurance plan.

When it comes to life insurance, many misconceptions are out there. Most couples wait to get a decent life insurance plan and potentially deny themselves of much-needed assets. Talk with your spouse, and get a plan that can quadruple your income in the event of your passing. You don't want your spouse or your children to struggle with not only your loss but also massive amounts of debt.

So, how can YOU take that next step towards financial freedom?

Here is one key takeaway from Leo, "I would say, don't start with the numbers. Tell them the start with their why. So, establish their why, their reason for pursuing debt freedom, their reason for pursuing financial freedom."

Don't wait to start your journey to financial freedom. Use your why, and get started today! Connect with Marc or Leo and let them help you take your next step towards wealth.

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Instagram: @BetterWallet

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Leo says, "The choices that we make today will determine the life that you live tomorrow."

Also, make sure you get a life insurance plan.

So, how can YOU take that next step towards financial freedom?

Don't wait to start your journey to financial freedom. Use your why, and get started today! Connect with Marc or Leo and let them help you take your next step towards wealth.

---

Connect with Me!

Instagram: @BetterWallet

TikTok: @BetterWallet

Twitter: @TheBetterWallet

YouTube: @BetterWallet

Previous Episode

Danielle's Story - Investing for your kids | Ep. 3

So, you're a millennial mom, entrepreneur, or maybe even somebody with a few financial questions. Perhaps you have big dreams of finding your passion, making more money, or learning to start investing for yourself and your kids? In that case, you need to check out The Better Wallet Podcast with Marc Russell. Marc helps people like you discover ways to budget, invest and save so that your money works harder than you ever have to. In this episode moms, Marc is joined by Danielle Shirley, a financial coach and educator. She is here to share her story to inspire other moms on their financial journeys as well. You'll want to listen to this one.

Danielle Shirley On Investing And Managing Your Money

As a single mother with two kids, and an entrepreneur herself, Danielle knows that where your money goes matters. Especially when the goal is to make enough money for yourself so that your kids can get a head start in investing. But with student loans and other life expenses coming at you, money management can feel tedious. Danielle was in the same boat: "I kind of felt like I was on like the scarcity wheel. You know, like the survival mentality, the survival wheel, where I was just doing good enough to get by." As Danielle and Marc explain, most of us are trying to get by with what we have, but it doesn't have to be like that.

Danielle began her business like many others did, right in the middle of the pandemic. Danielle saw this as an opportunity to step into her passion for helping others manage their money: "You see, it's like, I either had to work a job I didn't like for the money, or go for a passion and take that risk, but not make as much money."

Are You Ready To Step Into Your Passion?

Maybe this sounds like you? Do you feel like you're stuck in a wheel? Well, don't worry, you are not alone. Marc and Danielle are here to help.

Marc asks Danielle, "What piece of advice would you give someone who wants to start their financial journey, or they just want to start investing for their kids?" Danielle says that the best thing to do is to first "invest in yourself" and second "just get started."

Don't wait to get started. Start your financial journey today by connecting with both Marc and Danielle. To connect with Marc, begin your journey to financial wellness and listen to the entire episode of this podcast, please visit here. Or, if you are a millennial mother and want to learn more about investing for yourself and your kids, and you want to work with Danielle, please visit here. You can also connect with both Marc and Danielle on Instagram.

Start by creating that financial freedom you long for today.

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Connect with Me!

Instagram: @BetterWallet

TikTok: @BetterWallet

Twitter: @TheBetterWallet

YouTube: @BetterWallet

Next Episode

Anjie & RJ's Story: Paying off $123,000 of debt in a year | Ep. 5

Hey there, couples. Do you have financial goals? Are those goals similar? How are you stewarding those goals? Would you say that you and your significant other share the same vision for the future? How do you approach money in your relationship, and who makes the bulk of the decisions when it comes to money?

Welcome back to another episode of The BetterWallet podcast with Marc Russell. Whether you are married, in a relationship, or thinking about getting married, you may want to tune in for this one. This episode is about your relationship with money as a couple. In this episode, Marc is joined by Angie and RJ of Rich By Intention, a brand the couple created to help share their financial experiences and wisdom with other couples just like you. They're here to help others become rich in marriage, rich in purpose, and rich in life.

Marc asks a lot of great questions in this episode, and Angie and RJ deliver some excellent insights. Speaking from their own experience, Angie and RJ tell us that couples should start a conversation about money early on in their relationship. They also share with us the simple truth that who we are with can really "make or break our vision." Couples should have similar or shared goals or at the very least be on the same page with one another. It is proposed that couples begin discussing their finances sooner and getting a plan together before they get married.

Couples should also remember that money is a shared tool, especially in marriage or partnership.

So what about if you're a couple that is trying to get on the same page financially? How can you develop good money habits, pay off debt and live financially free? And what's the best way to get started?

Both Angie and RJ agree that a budget should be your first step in your financial journey. RJ and Angie successfully paid down 123,000 in debt; one year after getting married. Whoa! Anything really is possible with the right attitude, mindset, and amount of work you are willing to put in.

Are you looking to get going?

Here are a few insights to help get you started.

"So, like, what key tips do you have in trying to get your budget together?" Asks Marc. Angie says, "I would say the first thing before you even create a budget, you need to review your spending." Start by making minor adjustments to your lifestyle and seeing where you can cut corners and save money. Then create a budget to track your spending.

"And I always say to people, like every successful business has a budget. So you should treat your money, just like one," says RJ. "And it does not restrict you, right? It gives you choices, options. Treat it like a business."

It takes a lot of time and a lot of work, but couples can generate wealth and pay off their debt in no time. Couples can create a healthy relationship with money by making minor adjustments, increasing their income, networking with others, and creating habits and mindset tweaking. Sometimes, it's also about having a willingness to have tough conversations with one another.

No matter what stage of a relationship you're in, whether that's marriage, partnership, or simply dating, you're encouraged to start talking about money

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Connect with Me!

Instagram: @BetterWallet

TikTok: @BetterWallet

Twitter: @TheBetterWallet

YouTube: @BetterWallet