BiggerPockets Money Podcast From $69K Debt to Financial Independence in NYC
18 snips
Apr 24, 2026 
Kim Hunter-Borst, personal finance educator and founder of KHB Financial who achieved financial independence while living in NYC. She shares how $69K of debt from lifestyle inflation was tackled with intentional cuts, rent-stabilized housing, and maxed retirement contributions. Conversations on family buy-in, practical cost-saving swaps, and staying in the city after reaching FI are highlighted.
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High Earners Hit $69K Debt From Lifestyle Inflation
- Kim and her husband earned $334k but accumulated $69,000 of debt due to lifestyle inflation and blended-family credit cards.
- They sat the family down, cut dining and subscriptions, and cleared the debt in 18 months instead of two years.
Audit Recurring Bills And Cut Hidden Interest
- Do audit recurring costs and swap to cheaper equivalents like switching AT&T to Cricket to cut cell costs dramatically.
- Track small daily interest leaks (Kim found $6/day interest on an AmEx) and eliminate unnecessary cards and plans.
Use Family Contracts To Reduce Student Loan Risk
- Do involve children in a debt-paydown plan by setting clear expectations: summer work pays pocket money and parents will only cover limited college costs.
- Offer a challenge payoff threshold to incentivize scholarship/search efforts.