Ep. 16 How Your Side Gig Can Help You Live Debt-Free
December 16, 2019
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In this episode of the Side Gig Central Podcast, Elena talks with Mandy Velez, a senior social media editor at the Daily Beast and an insta-famous student loan slayer, all about side gigs, eliminating debt and going viral. In this eye-opening discussion, you’ll learn:
- How Mandy paid off her student loans AHEAD of schedule by using the debt snowball method plus two side gigs and a full time job
- Why you should never pay the minimums on your student loans
- How Mandy’s story went viral and was covered by People Magazine, Business Insider and more
Press play to learn more about Mandy’s story and how YOU can get a hold of your student loan debt and increase your cash flow simply by using a few plug and play side gigs and the debt snowball method.
Ep. 16 Timestamp
(0:45) What to expect from today’s chat
(4:20) Mandy’s background and how she became so financially savvy
(7:00) What is the debt snowball method for paying off student loan debt?
(8:30) What is the debt avalanche method for paying off debt?
(10:47) “I’m no longer filling the pockets of predatory lendors, feels amazing”
(12:48) Interest rates and how to get them paid down faster
(16:24) How Mandy leveraged side gigs to generate extra income to pay down debt
(18:00) NextDoor: how you can use it as a side gig
(20:00) Animal sitting as a side gig: dog snuggles!
(21:00) Mandy #1 piece of advice for choosing a side gig – tap into something that relates to your interests
(22:55) The day that Mandy’s story went viral
(24:25) The time when People Magazine posted Mandy’s photo next to a photo of Prince Harry and Meghan Markle
(26:00) “The group I’m talking to are in a stable place in their lives but are wondering, ‘is there anything more I can do, am I really stuck?'”
(27:00) How Many handled the social media trolls when her story went viral
(30:50) “When it comes to paying off student loan debt, never would I ever….just pay the minimums”