Do you want to pursue your passion and pay off debt? Brendan Bierman, an engineer in Austin, did both. In four months he paid off his credit card ($2,283!) and the rest of his car loan ($5,972) while doing something he loved, playing soccer.
Here’s how to pursue your passion and pay off debt.
First, what was his motivation to pay off $8,255 in four months?
“I have a burning passion to be financially secure. Being in debt is not cool. I wanted to be the guy that was a rock-star with money,” said Brendan.
Brendan latched onto the concept of being debt-free. Then the question was, how do you pay off debt? It boils down to either cutting expenses and/or increasing your income.
There’s only so much you can cut. Then you reach a point that in order to pay off debt, something’s gotta give. There’s power in increasing your income and taking on a side hustle. Reports show that 43% of Americans have a side hustle.
How to find side hustle that you’re passionate about.
Taking on additional work hours is draining, if you get a side hustle that you have no interest in. To find a side hustle that you’re passionate about ask yourself, ‘What do I love doing? What’s something I’m passionate about?’ Examine how and where you’re spending your extra time now and find a way to get paid doing what you love.
For example, Brendan grew up playing soccer and loved the sport. He found himself constantly at the gym. This was already part of his schedule. The challenge was to find a way to make money doing it.
“I emailed and two hours later was hired as a soccer trainer for kids. And boom I received additional income,” said Brendan.
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Brendan continued his full-time job working from 8-3 p.m. and then worked 3:30 until the late evenings training kids, “It was tough, but it was fun. I love soccer; I’m so passionate about it,” said Brendan.
His hard work paid off. He brought in an additional $2,000 per month that he used to pay off debt. Brendan no longer has credit card debt or a car payment to worry about, “Too often so many people say they don’t have the time or the money. Well you can have the time or the money if you just managed it.”
Brendan’s story is a sharp contrast to overall debt trends.
Yahoo Finance reported that 11.3% of student loans went delinquent. That’s double the rate it was ten years ago!
How does it feel to make such clear progress?
He said, “It feels awesome, I knew it was going to happen eventually, but I didn’t know I had the power to make it happen so quickly.”
You can pursue your passion and pay off debt too!