In this Investors Therapy session, Jordan Thibodeau speaks with Melanie Lockert to learn how she crushed $81,000 in student loans and liberated herself from the emotional pain of debt.

Melanie is the founder of the blog Dear Debt and the author of the book Dear Debt: A Story About Breaking Up With Debt.

In this talk, you’ll learn about:

• What money baggage is and how to minimize it
• How to stop moralizing your money
• Several better things to focus on than debt
• How to develop better relationships with a busy schedule
• What debt fatigue is and how to protect against it
• What spending triggers are and how to be mindful of them
• How to remain frugal around your friends
• How to earn a larger income
• How to get started freelancing or working a side hustle
• What Lola events are and how to build personal equity

Melanie Lockert’s Book Recommendations:

Get Money by Kristin Wong

Mindfulness: An Eight Week Plan for Finding Peace in a Frantic World by Mark Williams and Danny Penman

Tiny Beautiful Things by Cheryl Strayed

Dear Debt: A Story About Breaking Up With Debt by Melanie Lockert

Notes from the Talk:

2:00: About Melanie

3:42: About Melanie’s blog “Dear Debt”

4:19: Did you talk to any counselors about loan debt before starting your master’s program?

5:47: What is money baggage?

9:22: How do you stop moralizing your money?

12:26: What should we focus on instead of our net worth and debt?

14:00: What can busy people do to find the time to develop better relationships?

17:00: Saying “thank you,” “I love you,” and “I’m proud of you”

18:16: Saving “thank you” notes

18:52 What else should we focus on instead of our net worth and debt?

20:20: What is debt fatigue?

23:14: How do you tie your spending to your future self?

24:03: What did you have to learn to live without?

25:45: What are spending triggers?

30:27: How do you become more frugal with your friends?

33:25: What can I do to increase my income?

37:09: How do you turn private equity into something scalable?

41:12: What’s the hardest part of getting started working on your private equity?

44:03: When you first started out, how did you set up contracts for payment?

44:43: How did you first get involved with Lola and supporting women’s finance?

48:58: When is the next Lola event?

49:19: What is one book you’ve read that has made you a better investor? Get Money by Kristin Wong

50:03: What is one book you’ve read that made you a better thinker? Mindfulness: An Eight Week Plan for Finding Peace in a Frantic World by Mark Williams and Danny Penman

51:56: Bird’s Eye View

53:00: What is one book you’ve read that has made you a better person? Tiny Beautiful Things by Cheryl Strayed

53:50: Conclusion

Related Links:

Investors Therapy Session #2

Melanie Lockert’s blog “Dear Debt”

Melanie Lockert’s book: Dear Debt: A Story About Breaking Up With Debt