Debt Free in 2021

Jan 17, 2021

You might see the title of my new class, "Save your way to 101k", and if you're anything like me, you probably rolled your eyes... hard.

Oh great...Another hairstylist telling me that they make money hands over fists, and they work 4 hours a week, have a waitlist a mile long, and they eat rainbows for breakfast. 
That's not me. I'm the most average hairstylist. I've been in the industry for 18 years; I'm a working mom, I've had to rebuild my clientele countless times, I've hit many a point when I wondered if I should try a different career. 
So then, how did I get out of debt and manage to save over 100 thousand dollars? I decided to, and you can too.
I got a hold of my budget, and paid off my debt, and raised my prices... but the #1 reason it happened is that I made a choice. I chose self-control; I chose my future; I chose to change. I chose to do it. 
As you read these tips to savings and watch my class for more in-depth instruction, I ask that you do not move on from this conversation without taking some form of action. Create that budget, start your emergency fund, stop using your credit card... choose you.


The truth is that a budget is simply a tool. It helps you to give your money a job, a direction, and also serves as a mirror. You have to start telling your money where to go and what to do if you want to start saving the big numbers. Start by using free online apps and programs. Please keep it simple, manageable, and consistent. 
"The best way to get out of debt is to stop using it."  


Debt is dragging you down and keeping you from putting all that money into your own pocket. The sooner you get out of debt, the sooner you'll feel free and ready to start investing in your future. 
  1. Smallest to largest along with the amount of your minimum payment for each
  2. Look at that smallest one. Now, pay it off. 
  3. Now add the minimum payment you were paying to the smallest one, and add it to the next one in the list. 
  4. Continue to pay off the next one on the list as fast as you can... while throwing everything you have extra at it. 
  5. Keep going up the list until you are done! Now ask yourself... what are you going to do now that you don't have ANY payments?!
"63% of Americans do not have enough savings to handle a $500 emergency." 

Save 101k

 Honestly, this is the fun part!
You are out of debt; you're in control. You are enjoying your money, and now you are preparing for the future.
If 2020 taught us anything, it was to be prepared for the unexpected. Having an emergency fund guarantees your security. Save and set aside 3-6 months of expenses in an account that is easily accessible, and bask in delight knowing you can take care of yourself if the need arises. 
Now that you are telling your money where to go, you're debt-free and have an emergency fund. You can begin to invest in your future and towards that 100k mark. Work with financial guides to start investing, setting up a 401k or SEP, college funds for the kids, save for those vacations. And most of all... give.
I know you can do this. 
Leave me a comment, DM me on Instagram (@joylamay), or set up a free call to tell me which actionable step you are committing to today.
All my best,
Joy LaMay