424: How This Teacher Squashed $20K in Credit Card Debt and Hit Coast FI by 32

Coast FI by 32 after racking up $20K in credit card debt only a few years earlier!? However unlikely this turn of events might seem, the truth is that any money story can be turned on its head with a little financial know-how and good money habits. And today’s guest is living proof! Having accumulated $20K in credit card debt by the time she graduated from college, Yanely Espinal wasn’t exactly on the straight and narrow path toward financial freedom. But after reading Suze Orman’s Women & Money, Yanely was inspired to take control of her finances. Within 18 months, she had not only wiped out her debt entirely but also catapulted herself toward financial independence—a goal she would achieve before her 32nd birthday. Yanely has since made it her life mission to champion the financial literacy movement and push for financial education requirements in all states by 2030. Whether you’re at a crossroads in your financial journey, waist-deep in consumer debt, or well on your way to FIRE, there’s something for everyone to take away from Yanely’s story. In this episode, she shares her game plan to getting out of debt, achieving coast FI, and the keys to improving financial literacy in schools. As always, our trusted hosts Mindy and Scott join the conversation to help demystify several money topics—from overcoming generational poverty to creating multiple income streams and more! In This Episode We Cover The dangers of high-interest credit card debt (and how to get rid of it!) How to achieve coast FI as soon as possible and retire comfortably Breaking the cycle of generational poverty in the United States The THREE keys to improving financial literacy in schools What YOU can do to help propel the financial education movement forward And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment From $50K in Debt to Financially Free in 2 Years w/ Lots of Ups & Downs Compound Interest Calculator Grab Your Copy of “Women & Money” by Suze Orman Grab Your Copy of Yanely’s Latest Book, “Mind Your Money” Track Your State’s Movement for Financial Education with the NGPF Bill Tracker MissBeHelpful Website Click here to check the full show notes: https://www.biggerpockets.com/blog/money-424 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices