How I Paid Off $27,000 of Debt In One Year ?

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What'' s up, it ' s Toya. Of all, before I get
begun, thank you men so much who examined out, who got an opportunity to have a look at latoyacodner.com
and registered to get the package for the giveaway. If you wan na know more about my website and how it'' s tailored toward
athletic body types and style and 4C hair care and whatnot,
take a look at the link down below. So today, we'' re gon na speak about money. It ' s among my favorite
subjects to speak about, so I literally had to
compose a little summary so that I didn'' t get brought away. (Toya chuckles) I get asked from you people so
much on Snapchat especially and in some cases here on
YouTube on older videos asking me to discuss money and how I settled almost
$ 30,000 worth of financial obligation. If I can pull up, I wonder
how much I actually paid off $27,152 and 41 cents. That is how much I paid off.
within the period of a year, from August 2016 to August 2017. And these are my five pointers
I did not grow up with a lot of money. I am not abundant. I actually had to spend.
time learning more about money and picking mentors that.
don'' t exist in my real life in order to teach me to.
unclog myself by having this mentality that I'' m probably. gon na be bad for the rest of my life based off of the.
people that are around me, based off of how I maybe grew up, or maybe I wear'' t have adequate knowledge, or perhaps because I'' m not an engineer, or perhaps due to the fact that of whatever it is.You understand, there are a.
lot of individuals, and I know due to the fact that I was one of them,.
and it'' s something I still go, I still need to continue. to train myself daily in saying that, no, no,.
I put on'' t have to just wish and hope that, you understand,.
someday I'' ll win the lottery game or some remarkable thing will.
simply occur for me, you understand? I'' m simply wishing God to.
It'' s nice and it ' s always.
true blessings that do take place, but it doesn'' t need to be. by some odd twist of fate that you'' re gon na leave debt.You need to really get out of your own method and stop thinking with this.
bad individual'' s mindset. And I ' m not discussing bad, bad as in you put on'' t have. a lot of cash, poor.
I indicate the reality that you feel. like your life is what it is.
You ' re gon na be here for. the rest of your life, and you ' re simply gon na cut corners. by and never ever get ahead.
You have to, have to train. And I ' ll talk about.
I needed to look for out the. information, due to the fact that I had no, absolutely no examples of what it looked.
like to manage cash well.Zero. I had to teach myself,.
and I could no longer count on that crutch of, oh, I.
wasn'' t born into a rich family, or oh, you know, my moms and dads.
And I also had to get.
rid of the concept money is the root of all evil and.
little phrases like that. I have a blog post also if you guys want a little.
bit more info and you wan na know the.
books that I needed to read. I'' ll get more into that. The very first thing is that.
you have to train yourself out of a bad individual'' s. mindset, and once again, poor has absolutely nothing to do with cash. It is a state of being that essentially states that no matter what, due to the fact that of X, Y, Z, you'' re essentially informing yourself.
you wear'' t deserve better, that you ' ll never arrive,.
so you need to ditch that out.Two, income. I wan na talk about earnings.
next, due to the fact that I know that'' s what ' s on everybody mind. Like, just how much cash did you make to be able to pay off that? Listen, guys,.
( Toya laughs) my earnings fluctuates heavily year to year depending upon what kind.
of opportunities I have. I wear'' t work in like a high,
. executive-level position. I wear'' t do that. I handle my cash actually well. But earnings is very important, okay? You can'' t save money,.
you can'' t pay off financial obligation, without having some sort of income. So you need to figure out a method to take yourself out of.
the rut that you'' re in. So now that your mentality is fixed, you need to discover ways.
I prefer, personally, passive earnings. Possibly you'' re not at the. Genuine estate is a.
form type passive income.Maybe you do something like I do, like blogging or YouTube, you know.
with you front-loading. All of the work is sort of done.
at the front of the project, and then later on, as it.
lives on, it makes you cash. I utilize YouTube as a huge source.
of like, my passive earnings, and a percentage of that.
goes towards paying financial obligation, and a portion goes into.
functioning. Now, the fundamental kinds of earnings,.
I picked up a 2nd job. I still work. I really still have two tasks. I do YouTube, and I do acting. So, I'' ve been busting my butt to try and make as much.
income as possible. If that suggests picking up an additional task, doing chances and ends things, you understand, taking studies online.Whatever works for you and.
your lifestyle, you have to do it, and after that you have.
to push yourself just an extra action further in order to.
make those numbers go up. Again, I wish to get to a.
location where I'' m not necessarily hanging out to make money, you know, since that really is how.
rich people get rich. That is the method to build.
wealth, since there'' s just simply not enough.
hours in the day to make the amount of money that.
some of these individuals make. In the start, when you'' re trying to figure things out, and I'' m doing this. I ' m on the exact same track as you guys.You understand, you need to find. ways of developing earnings and altering your state of mind of you can ' t to you can, since you can, okay? You just have to roll up. your sleeves and work. Let'' s talk about my.
I got a second task. And everything, earnings.
tax, gifts from buddies, or whatever it is that you.
get, you know, you need to, all of that additional,.
particularly unexpected income, you need to shovel that.
If your net, away towards your debt.Because.
worth is in a negative, you'' re in a deficit, alright,
. which indicates that the stuff that you have doesn'' t. actually belong to you. I have no financial obligation outside.
of my trainee loans, which I'' m presently working on. You want to work on your income. 3, you wish to use.
that earnings to a budget. You wear'' t wan na wait. up until you get your cash to start determining what.
you'' re gon na make with it. Like, at the start of the.
month, each and every single month, because our lives alter. This month, I have, you.
know, a birthday celebration. This month, you know, I don'' t. have the birthday celebration, so I have a little bit extra income. You know, this month, I have.
to get this person a present, or I have a wedding event to.
go to, or whatever it is. You understand, our lives change and change. Having a monthly spending plan that.
( Toya chuckles) I'' m like, am I making. Generally, what you.
wan na do is you wan na predict how much, relatively, just how much.
cash you'' re gon na be making. Whether you get paid in one.
swelling amount, a lot of little pieces, you wan na have your.
income at the top, and then you desire to deduct your bills.
and your expenses from that. And anything left over out.
of paying your minimums, you wan na apply whatever is left to the most affordable debt that you have. This is the snowball effect, the snowball strategy by Dave Ramsey. He has an entire book on.
getting out of debt.I will link all of that things.
in my post down below, and likewise in the article,.
it will discuss to you various methods, like.
there'' s 2 different methods of leaving financial obligation,. settling either the debt that ' s the tiniest. To gain momentum, or paying off the debt. with the highest interest.
You have'to understand yourself. I ' m not gon na get too far into it, but say I have 3.
bills, each $20 a month.When I'' m done settling.
that costs, the lowest one, state it'' s like a hundred dollars, and my minimum payment was $20. I paid off it, and now.
Now I'' m gon na use that $20 to the next. Now my minimum that I'' m. creating for myself is $40.
the line, settling debt. And you need to literally be.
laser-focused, and there'' s gon na be people that are.
not going to comprehend. You have to understand that.
what you are doing today is you are getting ready for.
a life even more plentiful, even better than where you are now. You wear'' t need to starve.
or look raggedy or bad in order to do it, since.
do I look like I'' m starving? I look like I'' m raggedy? No, you wan na make sure.
of yourself, however you want to make certain you have.
a stringent spending plan so that if you'' re going to spend. a little bit on yourself, that you'' re not gon na go overboard.And that'' s where people ruin. Fourth, you wan na automate. Automate. And this doesn'' t always imply something technological, which it can. For example, if you'' re desiring.
to pay off a particular debt and you have issues paying.
costs on time, auto-debit. Sign up for every auto-debit program that does your minimum.
balance as possible. You have a charge card costs that can be on automobile costs pay, do it. You have phone bills, you.
have trainee loans, whatever, just get on car pay so that.
you'' re not incurring more financial obligation by those late charges, because
. late fees and interest kill you.Literally, I hate them with an enthusiasm, which is why I don'' t have any debt.
Just like, ugh. You wan na automate as much as possible.
sort of individual schedule. I understand that at the beginning of the month, when I'' m setting up my spending plan,. like, that is what I do. I instantly do it. I eagerly anticipate doing it. Now, you may not be the.
individual that I am who enjoys moving around numbers and.
gets very technical with it. Like, perhaps that'' s
not. you, you understand what I indicate? Perhaps you put on'' t like. looking into a lot, or, you know, whatever it is, but you need.
to figure out a schedule that works with you that.
no matter what, this is what you do, specifically at.
the start of the month.And number 5, supporters and coaches. As I said in the start of this video, my mindset about money was broken. It genuinely was broken,.
and I had to begin producing my own coaches.
in the type of books, reading books, listening to podcasts, listening to seminars,.
you know, conferences. I actually had to pretend.
that these individuals were walking with me on my journey,.
and also keeping my faith. I am a God-fearing lady,.
and I, you know, think that when I started setting.
my mind towards my objective, God started opening up all.
of these chances, all of these, you know,.
financial chances for me that I didn'' t have. before, and I think that it had to do with the law of destination. (Toya laughs).
I actually do. It'' s like, I indicate, like, it was much like, boom, boom, boom, boom, boom.Things just beginning.
happening, because in my mind, I was working towards them,.
and I truthfully think that God started to work.
Since of it, in me. So, you know, surrounding.
yourself, even if they'' re undetectable to you, and you'' re. simply surrounding yourself, wrapping yourself in the.
understanding of somebody else who is better off than you.
are, who has more experience, who has more understanding.
on finances than you do. Every day, I would listen to podcasts. I drive a lot, I'' m in L.A. Every day, I'' m on, you know, Quora, like,'searching for, I wear ' t even. understand, like, monetary advice, and just actually soaking.
in as much as possible. And I likewise checked out.
entrepreneur books as well.That links back to the entire,.
you understand, income base of this. It'' s like, discovering ways to. surround yourself with those mentors, and likewise, the people.
that support you, you understand? You'' re gon na go on this journey, and there'' s gon na be a lot of.
people who put on'' t comprehend. I, in my location of work, I work. with people that are younger than me, who aren'' t always. on the exact same journey as I am. When I was in my, and even.
early 20s and my mid 20s, you understand, I still had this frame of mind of, no, I want to be responsible.I put on'' t wan na screw up my.
credit, you understand what I indicate? Like, this is how I believed. I'' ve constantly been sort.
of that type of thinker, and in some cases, often.
You simply when you believe different than everybody else.
need to keep to yourself. For me, it helps to have one or 2 people that truly understand. My fiance, he gets it. I suggest, he gets what I'' m doing. He totally appreciates it. There are some things that.
he doesn'' t comprehend,'however he ' s trying to, and
. My best good friend, who is literally on the.
exact same track in life as I am. And, you know, simply having.
those individuals around you that understand why you'' re
not. gon na be going out for supper, or why you'' re choosing to.
eat at home and have your own meals, or why you'' re. working instead of partying. Surround yourself with.
positive impacts, mentors, people that are headed in the direction that you wan na go into. Which applies to whatever in life. I simply desire to say, you can do it. You can do it, and it doesn'' t matter just how much cash you make.You can make a bit. You can make a lot of money. Truthfully, there are so.
many individuals that are, and I'' m going off on a little tangent, however there'' s numerous individuals. who make numerous thousand dollars a year and literally.
have absolutely nothing to reveal for it. The quantity of earnings does not matter. (Toya laughs) It could imply nothing,.
because if you'' re overspending or you'' re living beyond your methods, you may also be making nothing. Like, it doesn'' t matter. So that example,.
it never impresses me, how much somebody states they make. It'' s like, what you finish with the cash you do have is what matters. And you guys can distinguish.
the passion that I have that I am, oh, you guys. You can do it. I'' m gon na connect a post down listed below that has some books and.
a few of my favorite podcasts from Dave Ramsey, Suze Orman. If you'' re an entrepreneur,.
Robert Kiyosaki. Oh my God, numerous people. Paula Pant, I believe, her podcast. Simply individuals who are in that state of mind. Who else? I wear'' t understand, there ' s so many.There ' s many books, and I will probably be including much more. You people can do it. You can do it. I'' m getting delighted. I need to go. I hope these tips help you. (Toya exhales dramatically) If you have any questions or.
comments, leave '' em down below. I like you. (positive electronic music). As discovered on YouTube – Creative Commons License.

Video Transcript:

What'' s up, it ' s Toya. It'' s great and it ' s constantly. And I ' ll talk about. I understand that at the start of the month, when I'' m setting up my spending plan,. I wear'' t understand, there ' s so many.There ' s so many books, and I will probably be adding even more.

License: Creative Commons