

There's been a lot going on in the world over the past year. From group chats to social media to the constant news cycle, there's a million issues being discussed on a daily basis. It's overwhelming. In particular, there are so many issues being discussed within the Black community; yet, we're not talking enough about our finances. We should be.
Earlier this year, I celebrated a major milestone. I paid off $40,000 in 18 months. There were so many sacrifices I made within those 18 months to achieve this goal. I made being debt-free a priority. Our biggest tool to building wealth is our income. When your income is being divided and sent to multiple banks, companies, etc. with debt payments, you're preventing yourself from building wealth. In fact, studies show that most self-made millionaires (not Kylie Jenner), the real ones, live a debt-free lifestyle.
We live in a system of oppression that has hindered us from accumulating generational wealth. Everyone wants to "get money;" yet, so many of us are living paycheck to paycheck. While, there are many factors that impact our finances, there are certainly habits and mindsets that we've embraced that do us a disservice.
I knew when I graduated from Spelman in 2013 that I wanted to save money and build generational wealth. My parents grew up poor in the South Bronx and worked really hard to make sure my circumstances were different, but I knew that I was different from many of those women at Spelman. My family wasn't upper-class, and it was clear in the conversations of how people spent their summers, where they travelled, college funds, etc. I was well-aware of the sacrifices my family made to send me to Spelman and I wanted to use my education and network to achieve financial freedom.
At 27 years old, I am proud to say that I have achieved that financial freedom. I am debt-free! I paid off $40,000 in 18 months following Dave Ramsey's Seven Baby Steps, which I strongly recommend. The baby steps are free to access. No excuses. Here's the key things I learned while following Ramsey's plan.
How I Paid Off $40,000 In Debt In Less Than Two Years
1.Income Is Key When Paying Off Debt.
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When I first graduated college, I was working for a large PR agency and was largely underpaid. I chose not to defer my student loans. I was living paycheck to paycheck and struggling with a $500 lease payment for a brand-new Mercedes-Benz. I transferred from Atlanta to Los Angeles and received a raise. However, I was still underpaid. I was struggling to make minimum payments and using credit cards for everything. The debt started rising. Here's a rough estimate of my debt breakdown at that time:
- $35,000 (Mercedes Benz Lease)
- $10,000 (Credit Cards)
- $15,000 (Student Loans)
I knew that income was the issue. I simply did not make enough money for the lifestyle that I lived. I was driving a $35,000 car making $45,000 a year. AND I didn't even own the car. I needed to increase my income and get rid of the car ASAP.
Luckily, the lease was up for the vehicle. I turned it in and purchased a USED Honda Accord for $19,000. Vehicles are NOT an investment. They depreciate in value. It does not make sense to drive an expensive car unless you can afford it. Leasing vehicles are irresponsible, especially when in debt and end up costing way more than the vehicle. The total costs of your vehicle/s should not be more than half your income.
Next, I needed to find a new job and increase my additional income. I knew that going to work for a company/brand would pay more than an agency. I was recruited by a major beverage brand and negotiated a $20,000 raise off that transition alone. I busted my behind the first six months, proved my value and received another raise. THIS started my debt-free journey. I began the journey 18 months ago making $80,000 with the following debt breakdown of $40,000:
- $19,000 (Honda Accord)
- $11,000 (Student Loans)
- $10,000 (Credit Cards)
Income is KEY to paying off your debt. At some point, we have to take accountability for the many loans, credit cards, etc. we sign up for. Education is an investment, and you should have a return on your investment. Taking out $100,000 in student loans does not make sense when your trajectory for your career is only going to deliver at max $60,000 in the first five years. We must make smarter decisions when it comes to taking out student loans.
I see the jokes about student loans being with you forever. I do not accept that.
For every monthly student payment I made, that could've been going into an investment account. I refused to be 40 years old, paying off student loan debt.
In addition to the raise that I received, I stepped my side hustle up or as I like to call it, my second career. I am passionate about both. In addition to serving as a consultant/analyst, I am an entertainment journalist and correspondent.
I started booking more hosting gigs, brand ambassador gigs and increased my writing opportunities. I increased my additional income significantly. I even went as far as to work mall shifts at a local mall near my day job. I worked 9am – 5pm, then headed to the mall for part-time shifts from 6pm-11pm, and then I would write articles and host red carpets on the weekends. ALL of that extra income went to my debt payments. I was EXHAUSTED, but I had my eyes on the prize. I knew that it was a short-term sacrifice that would pay off.
2.Pay Your Debt FIRST.
You can ease your way into debt, but you can't ease your way out of it. While beginning my aggressive debt-free plan I treated those major payments (as much as $2,000 a month) as a "necessity." Rent, Food, Utilities, Transportation, Debt Payment. That was my order. I didn't even give myself an opportunity to spend the money on anything else. As soon as I was paid, I went in that order. NO exceptions.
3.Use The Snowball Effect To Pay Off Your Debt.
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A key differentiator from Dave Ramsey's plans and other financial experts is that he encourages people to pay off the smallest balance first, as opposed to the debt with the lowest interest rate. Paying off debt is not just about math. It's psychological. When you get aggressive and start seeing those debts disappear, it sparks something in you. I listed my debts from smallest to largest and tackled them that way. My credit cards were first. Student loans were second, and then the car.
4.Live Within Your Means To Pay Off Debt.
I made a lot of sacrifices. I did not get my nails done at all. I painted them myself and saved money. Getting your nails, hair done very week, eyelashes etc. all add up. I cut down on brunch and eating out. I didn't even shop. I work red carpets for major awards shows and film releases. I reached out to friends and other correspondents to borrow outfits. I reached out to stylists. I had no shame. If I had to purchase something, I would go to Goodwill. My wardrobe struggled, and I definitely didn't purchase anything designer.
Your net worth is your total assets minus your debt payments.
The reality is that most people are BROKE, but we aren't living as such. Those purses and designer shoes. They aren't helping you achieve wealth. I didn't pay for ANY travel. I had several trips that were the luxury of my entertainment gigs. Those trips were paid in full. I used my airline miles to pay for a flight to Bermuda for a weekend trip with my girls. I budgeted for the weekend and didn't use any credit cards. I was also able to use airline miles to cut down the costs of my holiday travel.
5.Stick To Your Budget To Pay Off Debt Quickly.
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Making a budget and sticking to it is ESSENTIAL to paying off debt. Have the discipline and hold yourself accountable. Personally, I am old school. I created an Excel template that I used, because manually looking at my bank account and monitoring my transactions really helped.
Dave Ramsey also offers a free app "Every Dollar" that helps with budgeting. The easiest way to mismanage your money is to not budget for every dollar and to not monitor your behaviors. EVERY DOLLAR that I made had a designation.
Dave Ramsey's plan has helped millions of people become debt-free. As a next step, I'll be building an emergency fund ($15,000) and then saving for an investment. This is no promo. Dave Ramsey is a free resource that I found extremely helpful and wanted to share my journey.
If it's easy to obtain, it will not make you wealthy. Credit cards. Car notes, etc. are all easy to obtain. They will not make you wealthy. Also, while I understand that there are people who have way more debt. Understand this. If I paid off $40,000 in 18 months that means that I could pay off $80,000 in 36 months. I strongly encourage you to not make excuses. To feel motivated. To listen to a few debt-free screams on Dave Ramsey's YouTube channel and be inspired. It's worth it.
Many believe that when you start to show God and the universe that you know how to manage your money, you begin to get rewarded with more of it. I am walking proof of that. This year, after paying off ALL my debt, I am slated to earn more than $110K.
I have an 800+ credit score and have made a vow that I will NOT take out any debt except for a mortgage. I will not have credit card debt. I will not buy a brand-new car. I will save and invest and live the lifestyle that I deserve.
Click here to view Dave Ramsey's Baby Steps. Good luck on your journey!
Originally published on March 15, 2019
Featured image by Shutterstock
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Jaleesa Lashay is a film reporter and TV host in Los Angeles. She focuses on engaging in conversations that challenge representations within Hollywood. For more, follow her on IG @JaleesaLashay.
'He Said, She Said': Love Stories Put To The Test At A Weekend For Love
At the A Weekend For Love retreat, we sat down with four couples to explore their love stories in a playful but revealing way with #HeSaidSheSaid. From first encounters to life-changing moments, we tested their memories to see if their versions of events aligned—because, as they say, every story has three sides: his, hers, and the truth.
Do these couples remember their love stories the same way? Press play to find out.
Episode 1: Indira & Desmond – Love Across the Miles
They say distance makes the heart grow fonder, but for Indira & Desmond, love made it stronger. Every mile apart deepened their bond, reinforcing the unshakable foundation of their relationship. From their first "I love you" to the moment they knew they had found home in each other, their journey is a beautiful testament to the endurance of true love.
Episode 2: Jay & Tia – A Love Story Straight Out of a Rom-Com
If Hollywood is looking for its next Black love story, they need to take notes from Jay & Tia. Their journey—from an awkward first date to navigating careers, parenthood, and personal growth—proves that love is not just about romance but also resilience. Their story is full of laughter, challenges, and, most importantly, a love that stands the test of time.
Episode 3: Larencia & Mykel – Through the Highs and Lows
A date night with police helicopters overhead? Now that’s a story! Larencia & Mykel have faced unexpected surprises, major life changes, and 14 years of choosing each other every single day. But after all this time, do they actually remember things the same way? Their episode is sure to bring some eye-opening revelations and a lot of laughs.
Episode 4: Soy & Osei – A Love Aligned in Purpose
From a chance meeting at the front door to 15 years of unwavering love, faith, and growth, Soy & Osei prove that when two souls are aligned in love and purpose, nothing can shake their foundation. Their journey is a powerful reminder that true love is built on mutual support, shared values, and a deep connection that only strengthens with time.
Each of these couples has a unique and inspiring story to tell, but do their memories match up? Watch #HeSaidSheSaid to find out!
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More Than A Meal: How Bryant & Daniella Found Love In The Kitchen
How We Metis a series where xoNecole talks love and relationships with real-life couples. We learn how they met, how like turned into love, and how they make their love work.
They say the best relationships start off as friendships, and Bryant aka Chef Baul, and Daniella Williams are living proof of that. The couple met on the job and from there, their relationship organically blossomed into something much more.
Now married for almost three years, the couple has grown their family and businesses, opening a brunch restaurant, Betty Sue’s, in Atlanta.
From the day they met, food has always played a role in their relationship, and working together in the food industry is what we call a full circle moment. Learn more about Bryant and Daniella’s story of finding love with one another.
How they met.
Bryant: We met at a mutual clients’ house. She was doing the lady hair, and I was cooking for the lady. The client sent her downstairs to record me while I was cooking to, I guess, see what I was cooking, and I caught her recording, but we didn't talk. I caught her recording, we laughed it off, and she went about her day.
So I guess that was the first thing that made us interact with each other. A few months down the line, I think she posted something [on social media]. I hopped in her DM and responded to it, and then we decided to just meet up and hang out. I looked at her as an entrepreneur. I'm an entrepreneur. She don’t need nothing. I don’t need nothing. It's good to hang with people who don't need nothing from you.
When we linked up, our chemistry was just so soft and just so nice. She is a great person, but after meeting up with her [for the] first time, she went back to Miami. She came back [to Atlanta], and we just kicked it off that next weekend, and ever since then, we've been locked in.
Daniella: That same client had flew me back in so I knew I had to come up here for work. But I told him that we'll meet up and [go] on a date and see each other again. When that happened, everything else was history. It just happened organically. It wasn’t forced or anything.
Bryant and Daniella Williams
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First impressions.
Bryant: I knew for a fact for her to come downstairs and try to record me, I knew that she was brave, and that said a lot about her, because I barely even talk when I'm cooking for my clients. So you have to talk to somebody for them to feel comfortable to play with you, or do certain things. I feel like the client sent her downstairs because she knew that she's an outspoken, bubbly type of person who don't mind laughing it off if she gets caught doing it.
When she came back to Atlanta, she booked me to cook for her family. So while I was cooking for her in the kitchen, the whole time she was in there talking to me. It was like a date in the kitchen, and I cooked her food. Once the food was laid out, I just left. We had a great conversation when I was cooking for her, and also when she came downstairs and tried to record me.
Daniella: I was impressed how he was multitasking because I was asking him deep, interesting questions, and he was cooking the food, and he was still answering my questions. But I was in a relationship at that time, so I wasn't really in tune. It was no emotions. But when I came back and flew in to work, we met with each other.
He came and picked me up from the hotel and we drove around Atlanta, sightseeing. We went to the African club. So when he came downstairs, I was like okay, you not gonna hug me, you not gonna say nothing? He was shocked and we stayed together for like eight or nine hours, and he took me back to the hotel. I think he picked me up around nine at night. He took me back to the hotel around seven in the morning. Then he walked me to my hotel door. He gave me a hug and he gave me a kiss and said, 'I love you.' And I was like, what?
We stayed together for like eight or nine hours, and he took me back to the hotel. I think he picked me up around nine at night. He took me back to the hotel around seven in the morning. Then he walked me to my hotel door. He gave me a hug and he gave me a kiss and said, 'I love you.' And I was like, what?
The one.
Daniella: When we first linked up, he took me around Atlanta. He was soft and gentle. He was a gentleman. He opened the door for me and I never had nobody open the door. He opened the door every single time I was going in and getting out the car, and when we went to that restaurant. I was like, [there’s] something about him, and he was just nice, calm and patient. So I knew he was a little different from what I'm used to.
Bryant: [I knew she was the one by] how she cared so much. She didn't really know me like that. She knew of me, but she cared so much about me. When we first met, she would lay on me and just relax. For someone who just wants to relax on you, that says a lot about them towards you. It wasn't like I had to prove myself and she didn’t have to prove herself with me either. It wasn't nothing like that. We were willing to take whatever came with it. But it just was really a break. It was like the best me meeting a woman because I didn't try.
Any other woman, I might be trying to dress up, take her to this place, I did not try at all. I picked her up and I actually thought that she wasn't gonna go on the date with me because of her status and my status. I'm such a laid back homey dude and she's from Miami. I thought she would be on the City Girls, you gotta do this, do that. But she wasn't. She was the total opposite. She was a homebody, chill, like me.
Bryant and Daniella Williams
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Marriage advice for couples.
Bryant: Work together. Communication, put your mind together.
Daniella: And keep your family out your business.
Bryant: Keep it private please. Y'all work it out first. When y'all make sure it's solidified, then you tell them, or let them find out on their own. Privacy is the most valuable thing.
Daniella: And date each other because people get married and they stop doing the things that they did to get you, or stop doing the things that they did while they were in a relationship with you, before y'all got married. No, do the same thing. For me, I get bored easy, and I think he knows that. So just keep it spicy. Keep it interesting.
Bryant: We like spontaneous stuff like last-minute trips, trying different foods, going out the country just off a spur of a moment. You gotta make it fun. Don't just make it all business. And I think one person out of the relationship needs to take the initiative to make sure their partner is relaxing and at peace. A lot of people carry functional depression to where they’re functional, like we're doing this right now, but they can be going through something.
I don't think it's male or female. I think whichever one, the other partner should notice it and work with their partner to get through whatever they get through, like, for postpartum depression and stuff. That's something that most men don't even really know exist, but that's something when she had our daughter, I had an anti-postpartum depression plan put in place for her. She didn't know about it, but I knew I was gonna be extra sweet to her.
She won't have to think about doing nothing with the little baby. My little girl was watching the football game with me, when she was a few weeks old, because I was giving her that peace, so she can just relax, because her body has been through so much. So you got to be considerate of your mate's mental state and their mental well-being, because when it's gone, it's gone and it takes a lot to get it back, so I think that's important.
When she had our daughter, I had an anti-postpartum depression plan put in place for her. She didn't know about it, but I knew I was gonna be extra sweet to her. She won't have to think about doing nothing with the little baby. My little girl was watching the football game with me, when she was a few weeks old, because I was giving her that peace, so she can just relax, because her body has been through so much.
If you see something not right with your spouse, help them get help. It's okay for them to talk to a therapist by themselves, or it's okay for them to talk to somebody, but don't just sit there and let them go into this decline and self-destruction. I think that's the most important, because sometimes she be overwhelmed, and I have to be that person to hold her up. And then sometimes I'm overwhelmed. To her, baby, I don't want to do this no more. She's like, you gonna do this. We gonna do this. And she reminds me who I am. I remind her who she is, and we come back feeling more motivated.
Daniella: I think business owners should date business owners because they understand your hustle, your hunger. They understand when you can have a day where you make $0 and you have a day when you make $1,000. But I feel like if you dating someone who is in corporate America, and you a business owner, there's going to be a lot of friction, a lot of tension, and I just feel like I want to date someone that has the same drive as me.
Because I don't want to feel like I'm trying to build a bear, build a man, and I have to pull you and drag you, or just being with somebody who got they self together. For instance, my last relationship. I won't say I was the breadwinner, but I was kind of established, and I felt like I was sleeping with the enemy. I was growing fast and I wasn't stagnant. I was trying to get to the next level. He started to be jealous of me and I feel like a lot of women deal with men trying to be jealous of them. Men also have ego issues where they don't really want their woman making a certain amount of money or making more money than them.
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