How I Paid off $20,000 of Debt in One Year | Pay off debt FAST... THIS WORKS!

Рет қаралды 82,302

Күн бұрын

I'm so happy to finally be sharing with you guys how I paid off over $20,000 in student loan debt in less than one year (While paying rent, living well, and no crazy side hustles)! This is a huge accomplishment that I am very proud of and I hope it motivates and encourages you that you can do the same! It is TOTALLY possible!! Whether its student loans, car loans, credit card debt, or anything else, the first and most important step is to start small and then build that momentum!!
Video Chapters:
3:19 My philosophy and approach to debt
4:30 How much debt I started with, where it came from
6:04 My current situation (my income & expenses)
8:35 The monthly breakdown (how I paid $20k in one year)
16:10 How I made a $5k payment
17:55 Extra streams of income, bonus money
20:35 Saving money, money saving tips
thanks for watching ✨
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About me:
I'm a 24 year old from Canada, living in Montreal. I work as a tech consultant and make work vlogs about life as a young professional. I also love to talk about personal finance, fashion, health, and life in general! I am always 100% honest and transparent, and love to talk about taboo subjects like anxiety, imposter syndrome, and my true thoughts on things like comparing yourself to others, money, etc. I hope you will join me on my journey through my videos!
THIS VIDEO CONTAINS:
debt repayment, pay off debt fast, how to pay off debt, how to pay back debt fast, money, personal finance, personal finance for millennials, personal finance for gen z, how i paid off my student loans in one year, line of credit, credit card debt, how I paid off my student loans fast, graham stephen, graham stephan, deve ramsey, debt free living, financially responsible in your twentys, pay off debt while paying rent, pay off debt while living well, new grad money tips, consultant money tips

Пікірлер: 156

@ZoePritchard 3 жыл бұрын

You guys voted and here it is!! 💸 Tell me: Do you carry debt? And where is it from? (student loans, credit cards, etc.) I'm curious, not judging 💖

@gillian32 3 жыл бұрын

I carry some credit card debt because the cards have zero-percent-interest-rate promotions. I guess, it's the banks' way of encouraging spending during the pandemic.

@ZoePritchard 3 жыл бұрын

at least its zero percent!! 😇

@selflove428 2 жыл бұрын

I have one credit card just carrying 90.48 I will pay it off the end off the month. The medical bills I am doing a payment every 2 weeks but I think I will work harder put more in my medical bill debt and they I will extra hundred in my car I have 3000 left on my car thanks for this video

@eeelizabethh95 Жыл бұрын

Credit card and student

@msprettykawaii950 Жыл бұрын

From friends, personal loans, shark loans etc

@skoopqueen Жыл бұрын

I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this..

@eadad4371 Жыл бұрын

Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated..

@skoopqueen Жыл бұрын

@@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her. She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.

@eadad4371 Жыл бұрын

@@skoopqueen That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

@skoopqueen. Жыл бұрын

@@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located

@emeldcentor1474 Жыл бұрын

@@skoopqueen. I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me .

@Coffeetime1991 2 жыл бұрын

for those who have CC debt which is most americans... shop around for 0% APR transfer balance cc... Citi has a good one if you're approved.. i got mine for 21 months.. best decision ever. For example, I was paying like $80ish a month on my credit card with 24.4%APR.... that's free money you're giving the banks. If your credit is good switch! this is outrageous

@Ahmed-Crane 6 ай бұрын

This was an amazing video! My takeaway is to take whatever bit of extra money and put it to toward debt. I need to write this down so I can see it everyday!

@LearnAsYouGo. 6 ай бұрын

Congrats to you! I have paid off 20K in debt in just 11 months! I am so proud of myself!

@michelleduminie8448 6 ай бұрын

Thank you for motivating me this morning! I needed that. It’s not even the end of January on my debt snowball but it’s payday today and it’s already gone. Paid onto my debt so I don’t even have the chance to spend it. I do it first thing in the morning, but like I said, it’s already gone, but this video really helped me to feel excited again about how every little bit adds up, so thank you again.

@brucem4813 9 ай бұрын

Thank you for these examples and great advice. It helps.

@jinglejazz7537 Жыл бұрын

smart young lady, save your money, it will save you. I'm retired living in Alberta. I wish I had money sense when I was in my 20's. It would have made life so much easier as I got older. Well done.

@simonkue Жыл бұрын

i make $20 an hr. I don't think i can pay 20k off in 2 year even eating eggs and noodles

@Theconsciouscrystal 9 ай бұрын

I studied abroad in Australia too!! I was at UTS in Sydney, where did you go? Very proud of your channel. Honestly, these amazing experiences like being able to live abroad make me want to gain financial freedom and become debt free even more!

@ZoePritchard 9 ай бұрын

I went to University of Wollongong! Best time 😍

@melaniechristina6844 Жыл бұрын

GREAT video! Love your positive attitude (:

@ZoePritchard Жыл бұрын

thank youuu!! 💖

@raniakhan9630 Жыл бұрын

Hi there, I just loved this vedio, putting up great effort

@jolyanelavoie1023 Жыл бұрын

Thanks for sharing !!!

@peaceofmind6141 2 жыл бұрын

What equipment you use for creating your KZfaq videos?

@MonicaSoyemi Жыл бұрын

Can you post a link to the excel you created?

@gineenspring855 Ай бұрын

Thank you and Congratulations!!

@katilynbell5979 10 ай бұрын

Can you please share your spreadsheet? The formulas look helpful but I’m not sure how to set it up myself

@hcho7519 3 жыл бұрын

Shout out ur friend who called you out re the Gucci bag 😂 Congrats on your debt repayment progress!! That’s incredible.

@ZoePritchard 3 жыл бұрын

right???! bless her 😂😍 & thank you so so much!!

@Sixtwinnin Жыл бұрын

Great video 👍

@janettauzin670 Жыл бұрын

Great information thanks

@selflove428 2 жыл бұрын

Yes yay congrats

@nonku_mgwili 7 ай бұрын

Hey zoe how did you create that spread sheet?

@ennvee1989 Жыл бұрын

I'm also from Montreal and I have 20k in student loan debt. I was planning on paying it off in 18 months but maybe I could do it under a year like you!

@ZoePritchard Жыл бұрын

If you put your mind to it, you absolutely can!! I believe in you 💖 Also if you check out my more recent money videos I have a whole new system using cash and a digital tracker that I wish I had when I was paying off my debt! Would have made it even faster lol

@vicmazur 3 жыл бұрын

hey zoe how did you stop feeling the need to spend money on clothes ? i always feel the need to spend money on clothes specifically and i don’t know why , i don’t even wear half of the things i buy

@ZoePritchard 3 жыл бұрын

During the lockdown I just realized how much more fun it was to only wear clothes I love, and to wear them all the time provided me with so much simplicity. So I basically have 10 outfits that I rotate between and don't feel the need to shop as much (to some 10 may be a lot but I do love style/trends)... also stay away from fashion bloggers, they make you feel the "need" to shop like crazy! On a deeper note, material items were giving me temporary satisfaction followed by guilt (I shouldn't have bought that... shouldn't have spent this money) and I realized that paying down debt provides full satisfaction! 💛 💛 💛

@futureofwhat 2 жыл бұрын

She lost me at "For my birthday, my mom gave me $4K"

@thefurrybunch4071 Жыл бұрын

Yeah love how relatable that is ☠️

@89hoefer Жыл бұрын

Lost me at Gucci bag.

@athencroft5139 Жыл бұрын

😂😂 Tell me bout it. Here I am with a generic wallet and hand me down clothes trying to make it work.

@tmusa2002 Жыл бұрын

Lost me at “sign on bonus” HA! The other topics you’ve listed are unknown experiences for me too but I do manage just fine! 😀

@dingomankam1845 Жыл бұрын

glad i read the comments😂

@StuStevens-rn7rb 4 ай бұрын

What do you recommend for a physically disabled senior that's not able to work, only receives lousy SS. Don't have a car, not able to drive other people's vehicles. Don't have computer. Exist in a recliner at this point for last 3 years. Heart & brain injuries have Really messed me up and getting hit by lightning sure hasn't helped either. Suffered permanent AFIB from that incident and was blind for awhile too. Very scary!! 🤔😯☹️

@tracimcduffie8566 Жыл бұрын

Very good video Zoe🥰

@ZoePritchard Жыл бұрын

Thank youu!

@tracimcduffie8566 Жыл бұрын

@@ZoePritchard yes ma'am you're welcome 😊

@mattsarff2793 3 жыл бұрын

YAY! I paid off all of my debt (minus student loans) last week and have never felt better!

@ZoePritchard 3 жыл бұрын

thats so amazing!! congrats 🎉

@robingreen3391 2 жыл бұрын

Great!!!What method did you use

@msdwizzle55 3 жыл бұрын

Wow, you’re so close to being debt free! Totally agree with you on the bonuses. I received a big bonus last December and I was able to payoff the last $6k of student loan debt I had. I’ve been debt free since and it’s a nice feeling!

@ZoePritchard 3 жыл бұрын

oh my gosh thats amazing!! 😍 i cant wait to feel that too!

@Maldives2025 2 жыл бұрын

how does the tax work , you essentially with multiple sources of income, do you find you are taxed a lot or is it reasonable

@ZoePritchard 2 жыл бұрын

being in Canada I am taxed a TON lol

@TheBeatdownBros 2 жыл бұрын

Hydro? Not sure if that's what I heard

@aussiejubes 2 жыл бұрын

I started watching this and realised I saw it probably soon after you posted it. I remember I loved this video and got a lot out of it but couldn't remember anything about it at all! I watched it again and it's so good. I'm definitely going to start that pay off spreadsheet for my huge tax bill. My student debt in Australia is huuuuge, but it gets paid off as part of your tax when you reach a certain income level. I could pay it off faster but that's not on the cards for now. This was so good, lots of common sense and great tips ☺️

@b.stanton410 7 ай бұрын

I'm much (MUCH,😂) older. I love financial strategies and discussing credit score strategies. I'm not rich but it's all relative to your debt to income ratio as to how financially "well aka "rich'" a person is in my opinion. As an exam, I went from a mtg pymt if $1100 a mo down to $277...😂, yes it's laughable but true. Zos's vid pop up in my feed so I dec to lis for a min...❤ her self description and Gucci bag ex...totally REAL bec peo are so hung up on what they have vs the content of their character. I love her style and how she presents herself...BRAVO!

@ZoePritchard 6 ай бұрын

thank you!! congrats on lowering your mortgage payments.. GOALS! 💕

@Ki55yface 2 ай бұрын

Definitely motivating! Thank you! Wish me luck 🥴🩵

@ZoePritchard 2 ай бұрын

you got this!!

@PraiseAra 3 жыл бұрын

You inspire me so much! Thank you for this video ❤️

@ZoePritchard 3 жыл бұрын

😍😭❤️ thank you!!

@JhennipherBarbara 3 жыл бұрын

lol it only took me 34 seconds to subscribe cause i already knew i was gonna get a ton of value from your videos 💛

@ZoePritchard 3 жыл бұрын

ahhh thank makes me so happy! thank you 😇 😇 💛

@JhennipherBarbara 3 жыл бұрын

@@ZoePritchard Ofcourse !!!

@mgovig 3 жыл бұрын

First!

@ZoePritchard 3 жыл бұрын

❤️❤️❤️

@DivyaPenumetsa 3 жыл бұрын

So proud of you Zoe! Congrats :)

@ZoePritchard 3 жыл бұрын

thank you so so much ❤️

@Thomas-cw9ej Жыл бұрын

I was able to tak3e advantage of the interst free period as well. I wwent nuts and paid 100 per week and crushed my debt. I went from 56000 to 3500 in a few years. Great advice

@elliebusylondoner 3 жыл бұрын

Super useful video! This girl is amazing! So transparent and helpful! Thank you again for the interview advise, it's tomorrow! :)

@ZoePritchard 3 жыл бұрын

aw thank you Ellie!! Good luck tomorrow 😍😍

@caitlyntannu1791 2 жыл бұрын

Girl, the intro resonated with me and made me watch the whole video. I’m close to graduating with my masters 27k in debt. I’m looking for jobs right now that is not in my field but, I want to pay this debt off fast as possible!! I was debating on buying a prada bag… until it hit me that my interest is going to start in June.. so now I’ll be working hard doing this!! 💪🏼

@jobpromoter4999 2 жыл бұрын

I felt so pressured to payback my student loan until I got recommended to a way of earning passive income through cryptocurrency investment, with the Aid of my Investment Advisor, I earn $900 daily of my total investment and no loss of income. He has the best Technical Analysis, and anyone can earn much more.

@jobpromoter4999 2 жыл бұрын

He is licensed and Regulated by Finra. You can look him up on l.G

@jobpromoter4999 2 жыл бұрын

gary randall trad ing

@JustFrugalMe 3 жыл бұрын

Great job! I love seeing people go against the grain and be spectacular! Even better you are an encouragement to all by sharing the journey!

@asyienur9850 2 жыл бұрын

I owe $20k in debt it's stressing me out I just want to say what do u other than consulting

@mikellyartisan1384 2 жыл бұрын

If you have a car, you can make money through Uber, Door Dash, Lyft, etc. If you’re a native English speaker, you can teach English online. Fast food restaurants are usually hiring, but waitressing can make you good money if the place is known for better tips.

@jasonkelsey3441 7 ай бұрын

When you said you cannot have a Gucci bag and have debt I immediately made a poster to hang in my office that reads: " You CANNOT have (insert wanted item here) and have DEBT!"

@ZoePritchard 7 ай бұрын

love it!!!

@mattrandall1808 2 жыл бұрын

I have started controlling my debt as of late.

@cheeseandsprinkles 3 жыл бұрын

Love this! This year I decided I was going to take on my debt and pay off my student loans and car. It took me about 7 months to pay off 35K. So freeing!

@ZoePritchard 3 жыл бұрын

thats incredible!! congrats 😍

@119jle 2 ай бұрын

Who has a spare $5000 a month. Crazy

@sparklysparkle21 3 жыл бұрын

loved this video! i'm still in school but will definitely implement these tips once i'm done

@ZoePritchard 3 жыл бұрын

yay!!! thank you 😇

@Joni-Day-YT 5 ай бұрын

You guys voted and here it is!! Tell me: Do you carry debt? And where is it from? (student loans, credit cards, etc.) I'm curious, not judging

@toyotsuchiya6691 Жыл бұрын

Just watched this video, thank you so much for sharing. I have multiple credit card debt. I am self employed do you have another video on this or any other tips on how to manage this since my monthly income isn't fixed.

@ZoePritchard Жыл бұрын

hi! this is something ive been working on the last year since becoming self employed as well. Im still figuring it out but once I do, I’ll make a vid!

@jennifergonzalez6431 3 жыл бұрын

Where did you get your necklace!!!

@ZoePritchard 3 жыл бұрын

they are both from Princess Polly 💖

@akankshadaswani2780 3 жыл бұрын

I always love your financial videos! Lots of support, you got this!❤️

@ZoePritchard 3 жыл бұрын

thank you!!! 💛

@michaeldwyer977 2 ай бұрын

Payed?

@AllwinJeba Жыл бұрын

From Alogorithm supposed to be supporting us to we need to take action to support the Algorithm. Humans have made a lot of progress in the opposite direction.

@gaurvp 3 жыл бұрын

Very informative video. Best wishes Zoe 👌 Keep them coiming

@ZoePritchard 3 жыл бұрын

thank you!!!

@davidparnell3241 3 жыл бұрын

Hi zoe!

@diamondcheyenne13 3 жыл бұрын

Love your finance videos!

@ZoePritchard 3 жыл бұрын

thank youuu ❤️

@allyd945 3 жыл бұрын

Thank you for this video Zoe! It was very useful 💖💕💫🌟✨

@ZoePritchard 3 жыл бұрын

yay, im so glad 💖💖

@joymae 3 жыл бұрын

Aw I love hearing your debt story. I know a lot of my friends going through the same struggle. I cringe thinking about my past purchases when I was younger.

@ZoePritchard 3 жыл бұрын

thank you Joy ❤️ & oh my gosh I know!! when I think about all the clothes i bought and never wore/are now donated I wanna cry

@bkcryptotrader-thebossofbi2081 3 жыл бұрын

There are no shortcuts when it comes to getting out of debt.

@jackietorres9832 3 жыл бұрын

I’m currently saving money with my boyfriend to buy a home so my goal for the past few months has been to increase my credit score. I had $2000 worth of credit card debt around the beginning of this year (I know, I know 😭) and have dropped that number down to about $680. It’s so motivating to see the amount owed decrease and my credit score increasing!!

@ZoePritchard 3 жыл бұрын

that's so wonderful!!! good luck & keep it up, the momentum passes so fast and before you know it you'll have your home 💛

@ambreenshakeel1156 3 жыл бұрын

Every single $ truly counts. I never realised how high my coffee bills were until I invested in a good espresso machine. I saved around AED 1,700 ($600 approx) in four months. This really helped me to pay off all my credit card bills.

@ZoePritchard 3 жыл бұрын

ohhh yes coffee is killer!

@hotmessblonde Жыл бұрын

I'm just across the water in laval!!

@ZoePritchard Жыл бұрын

hello neighbor!!

@WERK-FORCE 2 жыл бұрын

Average software consultant in Canada is 94K a year. Congrats. I appreciate your video but its out of touch.

@ZoePritchard 2 жыл бұрын

i was not making $94k….

@nicole_michelle Жыл бұрын

I think she should have gave a range because in my state the average is $106K. So she did lose me.

@thomaschew2191 Жыл бұрын

Good video I agree with you any debt is a cloud over things and paying off all debt makes things easier and much more simple ...then go to investments. I know a lot disagree but simple is better. Strange but there is a certain satisfaction in getting rid of debt, and yes you are correct it is never too late. We are going to be totally debt free end of Dec mortgage and all, kids college and all. Debt free sounds so good!

@Spancy 3 жыл бұрын

Thank you so much for making this video!!! Impeccable timing for me cause I have the exact same debt/repayment goal for this upcoming year and just started making a salary to make it possible. I’ll implement these tips and watch back when I’m feeling weak 😋 love your personal finance vids❤️ and all the others, keep it up!!

@ZoePritchard 3 жыл бұрын

thank you thank you thank you!! Good luck, you can do it!! 💛

@marcilubia Жыл бұрын

👏👏👏👏

@sarahfellows3074 10 ай бұрын

Tging is some people have poorly paid yet demanding job and illness, this formula dorsnt work for them. I have never in my life eben contemplated buying a gucci back as havebt had choice

@UneakTershai 2 жыл бұрын

On a similar plan you’re so inspiring 💕✨

@CarolineAbroad 3 жыл бұрын

Hi Zoe! I'd love to hear more about your side consulting business? how did you start it? How did you build up "credibility" and found clients? I have very similar skills as yours and I'm very interested in starting a similar business!

@ZoePritchard 3 жыл бұрын

hey!! my consulting is more HR focused with tips to get into consulting, resume & interview skills 😇 i just get my clients from people who watch my vids and are interested

@whaletailmining136 Жыл бұрын

wazzzzaaaaaaaaaaaapp!!

@donaldjohn6046 3 жыл бұрын

i wanna learn English

@mikellyartisan1384 2 жыл бұрын

While the numbers may not exactly be relatable, I think your mentality towards debt is. Throwing all my extra income towards debt really is the mindset that I need to get into 💀

@Jonerod 2 жыл бұрын

I got married and earned an extra $10K I’m debt lol

@ZoePritchard 2 жыл бұрын

LOOOL

@squallcloud5865 4 ай бұрын

🥱 thx ❤

@fernchanjan733 Жыл бұрын

Not try it on a non tech salary and get back to me! 😂

@TheFame5000 2 жыл бұрын

Sorry, Zoe, but your above average income make you unrelatable.

@AmazinMusicNYC Жыл бұрын

I’m $1,762 in credit card debt with discover

@119jle 2 ай бұрын

That’s my monthly payment on one card.

@luln7072 Жыл бұрын

Pray for me I owe the wrong people 32k and in fear for my people. I hope everyone in my situation can push through.

@hellostephaniem 3 жыл бұрын

This was an amazing video! My takeaway is to take whatever bit of extra money and put it to toward debt. I need to write this down so I can see it everyday!

@ZoePritchard 3 жыл бұрын

thank you so much!!!