This month, we’ll be helping you get started on any financial and investment goals you’ve made. This week, let’s work on goal-setting with your dinero. Listen to episode 68 to hear how this family went from a six-figure debt to a six-figure net-worth in less than five years.
Leo Jean-Louis is a first-generation Haitian-American money coach, author and personal finance content creator.. After Leo and his wife realized that their 6 figure debt was keeping them from living the life they wanted, they made a plan to pay off $224,000 of debt, and they were able to pay it off in 2.5 years! After his post of paying off debt went viral on social media, he and his wife founded Freedom Is A Choice Movement, a business created to teach millennials how to become debt free.
In just 9 months, he has created a debt payoff plan for individuals and families totaling over $4.45 million! His money tips and personal finance journey have been featured on Yahoo Finance, the Steve Harvey TV Show, the His & Her Money Show, MagnifyMoney, and Northwestern Mutual, just to name a few.
Leo lives in Atlanta, Georgia with his beautiful wife, Faith, and their firstborn son.
You can follow Leo Jean-Louis on Instagram, Facebook and Twitter.
Episode 68 Highlights:
- The burden that comes with carrying debt—This is the kind of burden that keeps you up at night, that will leave you constantly feeling exhausted and drained, that will never allow you to fully feel free
- The cost of earning a degree—The American Dream sells us on the idea that acquiring a degree is our “ticket” into a different class or lifestyle. That a diploma leads to earning more, a better life, etc. Leo critiques this and asks us to consider if it really is worth it for those who see it as an investment.
- Starting with your why—Paying off debt isn’t fun. It isn’t fun to be funneling most of your money into paying these bills. So in the moments where it is hard to continue on your dinero journey, understanding your fundamental reason for making this change will be crucial.
- Celebrating the milestones in your journey—Yes, debt payoff is not fun at all. So to make sure we don’t stray from our dinero journey, we need to remember our why and celebrate the wins we’ve achieved as they come. Did you pay off your first $5K? Celebrate that sh*t. You paid off another $10K? Celebrate that sh*t too. Celebrate all the wins!
- Side hustles as a way of earning more—Budgeting is a great tool for gaining control of your finances. But when you’re trying to pay off up to six figures in debt, “cutting down” will not be enough to achieve your goals. Only earning more can do that.
Leo situates his financial advice within the realities of communities of color. His advice is culturally relevant to communities who are typically not considered in the world of personal finance and investing.
Thank you, Leo for being such a crucial member of the personal finance content creator space!
Loving this episode? Leave us a review if you’re listening on Apple podcasts & be sure to follow us on Instagram, Facebook, Twitter and YouTube!
Until next time, stay empowered, stay inspired & #staypoderosa ✨💎
WANT TO KICKSTART YOUR FINANCIAL JOURNEY?
Download our FREE 14-page guide covering all the topics you need to start making your dinero moves. Visit here. From money mindset, to budget basics, we’ve got you covered.
This episode is powered by BetterHelp – Professional Support When You Need It, At The Fraction Of The Cost Of In-Person Therapy. Get 10% off your first month just for Yo Quiero Dinero listeners, just use the code “DINERO” at checkout!
Check out these Yo Quiero Dinero Partners to accelerate your investing goals!
M1 Finance – investing, borrowing, and cash management in one easy-to-use platform. Build a portfolio of stocks and ETFs for free!
Public – Join the investing social network and start trading with any amount of money, commission-free.
SoFi Invest – Fund an Active Investing account with $1,000 or more, and you’ll get $50 in free stock.
Fundrise – Invest in REITs & earn passive real estate income! Have your advisory fees waived for 90 days.
Rocket Dollar – Invest in any asset class allowed by the IRS. Invest securely and easily in Real Estate, Startups, and more.
New Street Advisors Group – a commission free, fee-only fiduciary Registered Investment Advisor (RIA). Committed to transparent financial planning, portfolio management and investment advisory services.
Scholar Raise – Open a 529 College Savings Plan in minutes and start saving for your child’s future college education.
The Financially Lit Latina: The Ultimate Blueprint For Becoming Poderosa With Your Dinero