Overcoming Crushing Student Loan Debt | Melanie Lockert | Investors Therapy Session #3

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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
Watch Investors Therapy Session #3 with Melanie Lockert

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.”

What is the Silicon Valley Investors Club?

The Silicon Valley Investors Club (SVIC) is a community created by and for technology professionals who are interested in becoming more discerning, knowledgeable, and profitable investors. Our members are dedicated to learning how to make wise investments in real estate, stocks, bonds, startups, company acquisitions, and financial planning by discussing investment strategies and experiences. Each day, a story related to investing will be posted to the group’s Facebook page to serve as a jumping-off point for in-depth, quality discussions among like-minded investors. Make sure to join our Facebook Group.

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