Why One Young Adult Refuses to be Another Millennial Statistic

A few years ago, Phil Risher graduated college with $30,000 in students loans. This is exactly in-line with the national average for millennials in America, according to The College Investor. However, Phil didn't want to be just another millennial statistic. Here's how and why he paid off $30,000 in student loans in just one year, making $48,000.

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Please tell me a bit more about yourself. 

I am 26 years old living in the Washington D.C. Metro Area with my dog, Tuney. Currently I work in sales, but when I was paying of my debt I worked in customer service. I genuinely love people and want to see everyone get what they want out of life. 


What was your relationship with money like before you began your quest for financial freedom?

When I was 16, I overdrafted my checking account. The sad truth is that I did not even know what that meant. My mom made me apologize to the bank and started drilling me on personal finance.

After this experience, my mom signed us up for Dave Ramsey Financial Peace. I went with her and got hooked. Being raised by a single mother, we were not exactly living the dream. But when I found the Financial Peace secret sauce, it consumed me. I started reading and learning as much as I could.


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HOW DID YOU change your relationship with money and PAY OFF $30K OF DEBT IN ONE YEAR?

  1. Read, read, read. I have read over 50 books that helped me get comfortable more comfortable with money matters.
  2. Talk about it. No one wants to talk about money but 60% of Americans lose sleep over money. I talk to everyone about money. Not in a bragging way, but instead, opening a discussion.
  3. Believe. I have trained myself to see 1 million dollars as pocket change. It might sound weird. But what you believe, you achieve. Control your mind on a daily basis and I promise you can do the unthinkable. It sounds cliche, but it is true. I am living proof of these results. I also have a daily creed that outlines my goal, time frame, and purpose for attaining it.
  4. Make a plan and get on a budget. I created a 5 step guide to help others get on track with their money goals. You can view my guide here. This also includes my Free Budget Template

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What has been the most surprising part of this experience?

Graduating college as an “independent” young adult and moving into my Dad and Stepmom's basement was an eye-opening experience. My early 20’s was not all the glamour and independence I had envisioned. However, I created a plan to change that.

After paying off my debt I saved up and bought my condo with cash. The most surprising part of this whole experience was being able to implement all of these strategies I read about and seeing them help me accomplish my goals. I was able to buy a place with $60k cash in the 6th most expensive place to live in the country. I didn't stop until I found a motivated seller who wanted to sell her place to a young person doing the right things with their life.

What you talk about and do on a daily basis is what you become.
— Phil risher, youngadultsurvivalguide.com


Currently reading Pre-suasion by Robert Cialdini. The book that changed my life is Rich Dad Poor Dad by Robert Kiyosaki.

Any final thoughts?

Just some words of encouragement! If you want something bad enough you will find a way, if not you will find an excuse. How bad do you want it?

Congrats, Phil on being debt free and living the life of your dreams at such a young age! 

Phil's Blog: youngadultsurvivalguide.com

Phil's Instagram: @youngadultsurvivalguide