After seeing the effects of the 2008 financial crisis I believe there will be many more debt free millennials in the upcoming years. I think that our age group saw what crippling debt can do to all types of people and we are making conscious efforts to prevent debt in our own lives. In this post, I am going to highlight some of my favorite debt free millennials and give some background on how they did it!
Hopefully their stories can inspire you like they inspired me. I want to be debt free as soon as possible so I am hustling every day to make better financial choices.
Read on about these young women who are debt free early in their life and let’s add our names to this list!
This post is all about debt free millennials who inspire me.
3 Inspiring Debt Free Women
Sophie Zang
Sophie Zang is so near and dear to my heart because I can identify with her story so easily. Long story short, she didn’t know she was going to have to pay for college herself until a couple of months before she started her freshman year. So, she started nannying and writing a blog during college. While nannying, she listened to Dave Ramsey podcasts about becoming debt free. She was able to pay off her student loans by the time she graduated based on her blogging income! Talk about HUSTLING! The fact that she was able to do this at 19-22 years old is incredibly inspiring to me. I utilize her YouTube channel and her blog, bysophialee.com, as inspiration on my own debt free journey.
Justine Nelson
Justine Nelson faced a similar situation to Sophie. She was a sophomore in college when her family told her that she had to pay the rest of her college on her own, due to their own personal finance situation. This came as a shock so she had to pivot. Justine made less than $50,000 throughout her debt free journey, so it is definitely possible. She made a big sacrifice of living at home after college. This is something I did as well and found it tremendously helpful and motivational. Justine was able to pay off $30,000 in less than 3 years! Check out her website, debtfreemillennials.com, to learn more about her story and check out her courses!
Becky Blake
Becky Blake is another millennial who had massive debt but tackled it impressively fast. One thing these women have in common is that they all had large amounts of student loans. Becky went to an out of state private school where she accumulated nearly $100,000 of student loan debt. While she was still in school, she realized what a large amount this was to pay back and made a plan. Her strategy was to tackle the highest interest rate loans first because they were more expensive to keep around. She ended up moving home after college and working side hustles to pay down these loans. Her story is so motivating because she paid of over $65,000 in loans in under 2 years. If Becky can do it, we can too!! She started her own business called Twenty Free, where she is a finance and lifestyle coach for 20-something’s! Check her out to be inspired!
I hope to be another woman on this list soon. The day this post was written, I actually paid off my vehicle! So one debt down, and a couple others to go and I will be debt free! Unfortunately, I am going back to school so I will be getting more loans, BUT, I am using strategies I learned from these women to decrease my debt as much as possible while in school and be aggressive once I graduate.
This post was all about inspiring women who became debt free in their twenties!
