This article will share the incredible journey of Brennan Schlagbaum and his family, who have achieved financial freedom by paying off over $300,000 in debt and building a successful financial education business. Despite facing personal struggles, particularly related to their daughter Logan’s health, they overcame the obstacles.
Brennan graduated with a double major in finance and accounting from the University of Louisville but faced financial challenges as he had significant debts and no immediate income. He had to live with his parents to keep his expenses low and wait eight months before starting his CPA job.
Brennan and Erin purchased a $233,700 home, but the move also came with additional expenses. Instead of giving up, they turned to self-education through Google, YouTube, and books to learn about budgeting, saving, and investing. This led to the creation of their business, Budgetdog, which began as an Instagram account providing financial advice and eventually evolved into a company bringing in up to $100,000+ a month through client consultations, courses, book sales, and promotional and affiliate revenue.
Brennan and Erin’s journey to financial freedom is truly inspiring. They were able to pay off over $300,000 in debt, including student loans, cars, and an engagement ring, by negotiating raises at work, earning extra income through their business, and implementing a reliable plan. The business, Budgetdog, not only helped others improve their financial well-being but also played a crucial role in helping them pay off their debt and achieve financial freedom.
The couple’s approach to budgeting and personal finance was unique and innovative. By organizing themselves and taking just 30 minutes each month to review their finances, they were able to get a clear picture of their financial situation. They also avoided the temptation to spend more as they earned more and stayed in their lane, which meant not comparing themselves to others and not spending money on things they didn’t need.
Brennan Schlagbaum believes his greatest accomplishment has been the ability to afford and access specialized medical treatment for his daughter Logan, who was diagnosed with Dravet syndrome, a rare and severe form of epilepsy. The Schlagbaums were able to afford the expensive treatment and travel necessary for Logan’s care, which was only possible due to the strong financial foundation they had built for themselves.
One of the most important lessons the Schlagbaums learned during their journey is the importance of having a plan and sticking to it. Without a plan, they found themselves spinning their wheels and not making any progress. Additionally, they learned the importance of avoiding lifestyle inflation and staying in their lane, which means not comparing themselves to others and not spending money on unnecessary things. They also learned the importance of perseverance and a positive attitude, even in the face of personal struggles and challenges.
The story of Brennan Schlagbaum and his family serves as an inspiration for anyone facing financial difficulties. Through hard work and perseverance they achieved their goals. By sharing their story, the Schlagbaums hope to help others learn from their experiences and achieve their financial success.