Mastering Debt-Free Living: Insights from Avery Breyer’s Financial Playbook
Mike interviews Avery Breyer.
In a recent episode of the podcast, Avery Breyer, author of the transformative book How to Be Debt Free: A Simple Plan for Paying Off Debt: Car Loans, Student Loan Repayment, Credit Card Debt, Mortgages, and More, joined us to delve into the intricacies of debt-free living, side hustles, and the importance of multiple revenue streams. Avery’s insights are practical and incredibly empowering, especially for those overwhelmed by financial burdens.
SUMMARY
Avery proudly declares herself the “queen of backup plans.” Her approach to financial stability is a masterclass in preparedness, with plans ranging from A to G, ensuring she’s ready for any financial curveball. She advocates for having side hustles as a viable backup plan. Depending on your career path, a side hustle might be necessary or a luxury. Having additional skills and income streams can be a game-changer for those in unstable career tracks. Avery’s story of starting a travel site that funded her vacations through affiliate commissions is a testament to the power of side hustles.
We discussed the importance of multiple revenue streams and how they can provide financial freedom and options. Avery’s book has strategies that have helped people clear their debts, but she emphasizes that her advice is not one-size-fits-all. She’s not a licensed financial planner and avoids giving direct financial advice. Instead, she focuses on budgeting, spreadsheets, and mathematical strategies to optimize finances.
Avery believes in empowering people to fix their financial situations by themselves. The math involved in budgeting and debt repayment is not complicated, and there are plenty of online calculators for the more complex calculations. She shares a free money tracker with readers of her book, How to Stop Living Paycheck to Paycheck. This tool helps set aside money for predictable expenses, such as house insurance or car repairs, making these financial hits less stressful.
One major takeaway from our conversation is debt’s psychological burden on individuals. Society often pressures us to keep up with appearances, leading many to live beyond their means. This perpetual cycle of trying to fit in can harm financial health. Avery notes that the root cause of debt is usually either an income problem or an expense problem. Understanding and addressing these issues is crucial for achieving financial freedom.
Avery and her husband chose real estate as their path to wealth. For them, it required the least amount of their own money while offering a high rate of return over the long term. Real estate isn’t for everyone, but the rewards can be substantial for those willing to manage it. She emphasizes the importance of running the numbers and understanding the risks involved. When done right, real estate can be a significant wealth-building tool.
The moment you become debt-free, a new world of opportunities opens up. Avery passionately talks about the peace and inner tranquillity of debt-free living. It’s not just about having money in the bank; it’s about psychological freedom and improved quality of life. She echoes Tony Robbins’ sentiment that the quality of life is based on the quality of relationships, thoughts, and sleep. Debt-free living significantly enhances your ability to sleep well, knowing you have a safety net.
Avery shares practical advice for managing debt. She advocates for tracking your money and making decisions based on your financial reality rather than societal pressures. Whether you rent or own your home, the key is understanding what it’s costing you and what you’re gaining from it. Every financial decision should be made strategically, clearly understanding its impact on your overall financial health.
Avery Breyer’s approach to financial freedom is both practical and empowering. Her book, How to Be Debt Free, is a comprehensive guide to paying off various types of debt and living a debt-free life. She encourages everyone to take control of their financial destiny by understanding the basics of budgeting, tracking expenses, and creating multiple revenue streams.
Avery’s insights are invaluable for those looking to transform their financial lives. Check out her books and start your journey to financial freedom today. Remember, a million-dollar book can lead to a million-dollar life.
For more information, visit Avery Breyer’s website at AveryBreyer.com and explore her books on Amazon to get started on your path to debt-free living.
Get her book here:
About Mike Fallat
Mike Fallat, aka The BookMan, is the owner of Dreamstarters Publishing and the Million Dollar Book Agency. They have helped 300+ entrepreneurs become bestselling authors. His goal is to help 1,000 entrepreneurs publish books and teach them how to use their books as a gateway to generating 7-figures.
Visit website for more information: https://www.milliondollarbookagency.com/
About Dreamstarters Publishing
Dreamstarters Publishing offers ghostwriting, cover design, and everything that is required to take an idea to a finished book (kindle, paperback, hardcover, and audiobook).
The Million Dollar Book Agency is the ultimate marketing CRM system for author-preneurs. Services include automated funnels, lead generation campaigns, book fulfillment, podcast management, press releases, virtual assistants, course development, and more.
Mike also hosts a podcast known as Million Dollar Stories and runs a membership-based site known as Million Dollar Circle. In addition to owning the book business, he invests in self storage real estate.
https://dreamstarterspublishing.com/