KICKING DEBT #1 - Debt is the Fire That Burns Your Wealth

You Can’t Fight a Fire You Won’t Acknowledge.

Debt works a lot like fire:
If it’s controlled, it can be useful.
If it’s ignored, it can burn your entire financial future to the ground.

And the worst part?

Most firefighters carry a ton of it, (truck loans, credit cards, student loans), and think:

“It’s just part of life.”

But it doesn’t have to be.
Let’s break it down, firefighter-style.

The Two Types of Debt: Good vs. Bad

GOOD DEBT

Good debt is controlled, intentional, and ideally helps build long-term value.

Examples:

• Mortgage (buying a home you can afford)
• Student loans (when the degree leads to higher income)
• Business loans (for a well-planned venture or skilled trade)

Good debt has a purpose, a plan to pay it back, and ideally a return on investment.

BAD DEBT

Bad debt is high-interest, emotional, or out of control.

Examples:

• Credit cards you carry a balance on
• Payday loans
• 8-year truck loans at 9%
• “Buy now, pay later” schemes

If it’s charging you more interest than you’re earning anywhere else, it’s bad debt.

Bad debt makes you work harder for your money, while your money quietly works against you.

Real Talk: Why Debt Keeps Firefighters Broke

Firefighters have solid salaries. But here’s what often happens:

• You work OT to make extra cash
• That money goes toward payments, not progress
• You finance a truck, a boat, or a vacation
• Suddenly, you're working more just to stay afloat, not to build wealth

That’s not freedom.
That’s financial burnout.

Step-by-Step: How to Put the Fire Out

You don’t need to be perfect.
You need to be intentional.

Here’s how to tackle debt, one fire at a time.

Step 1: List Your Debts

Make a simple table with:

Now you can see the enemy clearly.

Step 2: Identify the “Wealth Burners”

Any debt with 10%+ interest is an active threat to your financial future.

Start there.
That’s where your dollars are doing the most damage.

Step 3: Pick a Strategy

There are two ways to fight the debt fire. Pick the one that fits your mindset:

Snowball Method (Great for Motivation)

• Pay off smallest debt first, regardless of interest
• Builds momentum fast
• Great if you're new to budgeting or need quick wins

Avalanche Method (Best for Math)

• Pay off highest-interest debt first
• Saves you more in the long run
• Slower wins, but more efficient

Pick a strategy, not a perfect one.

Step 4: Free Up Cash (Fast)

• Use OT or side gig money to hit debt hard
• Sell unused goods or tools
• Pause investments temporarily (unless you’re getting a match)

Every dollar you throw at bad debt is a dollar you reclaim from interest slavery.

Step 5: Avoid the Flashovers

The fire’s going out, don’t light it again.

Watch out for:

• New credit cards or financing deals
• Lifestyle creep (new debt because income went up)
• Emotional purchases without a plan

You wouldn’t throw gas on a fire mid-knockdown. Don’t do it with your money.

Fireground Mindset Shift

Being in debt doesn’t make you dumb, weak, or irresponsible.

It makes you normal in a broken system that pushes consumption over ownership.

But you're not here to be normal.
You’re here to build wealth with intention - just like you train, fight fires, and protect lives.

So start now. One payment at a time.

Real World Example

“A firefighter I coached had $24,000 in credit card and truck debt. We built a simple OT plan and funneled every third paycheque into extra payments. He cleared it in 14 months. That truck is still running and now it’s his, not the bank’s.”

Visualize progress. Choose your method. Take back control.