43. How to Pay Debt Off and Improve Your Work-Life Rhythm with Kyle Depiesse
We may find ourselves lost at some point in our lives. At times, we may feel so trapped in our careers that we lose time for the things that matter. That's why working adults frequently experience burnout — society pushes us to find satisfaction in our careers. However, you can still pay attention to more essential aspects of your life while on your journey toward success.
In this episode, Kyle Depiesse talks about his experience on how he escaped being trapped in his career. Kyle also shares what it took to learn how to pay debt off in just 38 months. By doing that, he managed to get a hold of his life and focus on self-improvement. From there, he built his own business from scratch and now teaches others to find their work-life rhythm.
If you want to hear more about Kyle’s stories and learn how to pay debt off, listen to this episode.
3 reasons why you should listen to the full episode:
Hear about Kyle’s journey throughout his career: from being a part of corporate America to doing things that matter.
Discover how to pay debt off and how that helped Kyle be free from being tied to his career.
Get some tips about how Kyle was able to build a business from scratch by prioritizing self-improvement.
Resources
Connect with Kyle: Website | Instagram | Email | Facebook | LinkedIn | Vimeo
Foundations in Personal Finance by Dave Ramsey
Episode Highlights
[02:37] Learning How To Pay Debt Off
Kyle and his wife worked hard for 38 months to pay off all their debt.
Paying off debt does not always happen overnight. It takes time to pay it off, change your life, transform yourself, and do work that fulfills you.
[04:07] Feeling Burnt Out
Kyle worked in the corporate world for 13 years.
During those years, success meant bigger paychecks and higher positions.
Kyle was doing all the things he was supposed to be doing, yet he still felt lost and unfulfilled.
At that time, Kyle and his wife were living at or above their means. By the time they realize all of it, he can’t get out of the job he disliked.
The toxicity in his workplace and his need to keep his job led him to burnout.
[08:58] Getting Trapped in Our Careers
You can still be successful professionally without sacrificing other aspects of your life.
Focus and become more efficient during your working hours, so that you can effectively transition to home life after the workday.
We need boundaries around work in this age and work environment.
Kyle: 'You don't have to sacrifice your personal balance sheet for your professional one because no amount of success at work covers up for a failure at home.'
[13:06] Reflect on What’s Really Important
Reflecting on what's important in your life requires a continual course correction.
Be sure to fulfill other aspects in life after coming from an intense season of work.
You don’t have to spend thousands of dollars when spending time with your family.
Your kids wouldn’t care about what exactly you’re doing; they just want to spend time with you.
[15:08] Starting the Journey to Being Debt-Free
Kyle taught personal finance as a high school business teacher after leaving the corporate world.
Dave Ramsey’s podcast helped Kyle and his wife start their financial journey. He taught Dave’s personal finance curriculum to his students and applied it to himself as well.
Seeing his life-to-date earnings from the social security website was the wake-up call Kyle needed.
Even if Kyle and his wife made so much money, they had no savings for retirement.
After feeling ashamed and upset about it, Kyle reflected on the course that his life should take.
[19:51] Being a Stay-at-Home Dad
After much prayer and counsel from others, Kyle and his wife decided he would stay at home and take care of their son for a season.
Everything that happens in our life is just a season, just like being a stay-at-home dad for Kyle.
People usually reacted to his decision in two ways: they either become awkward or admire his family relationships.
It was a challenging time for him and his wife, considering what they had to face. But it was all worth it because Kyle now has a good relationship with his son.
[23:12] Discovering Yourself When You’re a Stay-at-Home Dad
Kyle used to think he was patient. Staying home with his son was a character refinement opportunity for him.
He likes to plan things. However, a six-month-old baby doesn't follow plans, so Kyle had to become fluid and adaptive.
[24:57] The Sacrifices that Go with Paying Off a $400K Debt
People tend to spend the money they don’t have through credit cards.
However, paying attention to your finances is part of learning how to pay debt off.
Kyle’s biggest sacrifice is putting a pause on his career. During this time, he believed that providing for his family meant staying home.
He treated this experience as a gift. He spent time reflecting on and improving himself.
Tune in to the full episode to hear what Kyle and his wife did to budget their money!
Kyle: 'Being on a budget isn't constricting. It's actually permission to spend when you do it correctly.'
[28:26] How to Pay Off Debt If You Have a Lower Income
People often write off Kyle’s story of learning how to pay off debt.
You need to look at the ratio. When they started, Kyle and his wife had twice the amount of debt compared to their annual income.
Regardless of how much you make, discipline when it comes to handling money applies to everyone. You need to know how to manage money.
Kyle: 'It doesn't matter where you sit on the income scale. The principles of managing money, and the principles of having discipline, the principles of not just living for today, and saving for tomorrow, and thinking long term, that applies to anyone and everyone.
[31:35] Achieving a Work-Life Rhythm
Work-life balance originates from labor activists in the industrial age who championed eight hours of work, leisure, and rest.
However, this concept of balance isn't achievable nor sustainable in today's environment.
A work-life rhythm is more sustainable because rhythm is more fluid.
To achieve a work-life rhythm, you must separate the periods for focused work and rest/recharging.
By doing so, you keep from getting burnt out. Instead, you sustain a high level of performance.
[35:08] On Reaching Beyond Experience
Most people are running on a flat tire. Eventually, it’s going to blow up, and worse things happen.
Kyle tries to change their environment by interrupting the pattern people usually follow for work.
You must surround yourself with like-minded people and allow yourself to just be.
He employs strategies wherein you don’t have to listen to speakers for long hours. He gets people to go somewhere, do something different, and be in solitude.
We learn best by experiencing and by doing something. Kyle tries to recreate this.
[38:11] Kyle’s Clients
A lot of Kyle’s clients usually have entrepreneurial backgrounds. Kyle finds that they struggle the most with finding a work-life rhythm and slowing down.
Finding people that support these business owners could be a challenge. We live in a world where people want to bring down those who succeed.
The majority of Kyle’s clients usually have goals unrelated to work.
So Kyle surrounds his clients with a tribe of people who will support, encourage, and challenge them.
[41:34] On Dealing with Imposter Syndrome
Kyle also struggles with imposter syndrome. But he is confident in his abilities to bring value to other people’s lives.
Kyle helps people by giving his clients a container that draws awareness to their struggles and the areas they need help in.
Kyle's business provides experiences that heal his clients and helps them get healthier and better at their work.
About Kyle
Kyle Depiesse is the founder of Reaching Beyond Experience, a company that promotes a work-life rhythm. He once was a part of corporate America, climbing the ladder for about 13 years.
He currently lives in the Twin Cities with his wife and son. Now, he dedicates his life to promoting a mindset that focuses on managing the seasons in our lives. With the help of his podcast, Reaching Beyond, he helps individuals having a hard time in their debt-payoff season.
If you want to learn more about Kyle, you may visit his Instagram page and the Reaching Beyond Experience website.
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