Hey girl! I know how you may be feeling: overwhelmed, tired, stressed, and perhaps confused about where to start? I have also felt that way……frustrated and drowning in debt! It can be an unsettling feeling, but I’m here to tell you two things: there is hope, and you can do this!
If you want to skip straight to the free resources to help get you started, you can grab my favorite four free resources I’ve created: the “Healthy Finances Mini-Bootcamp”, a savings tracker, a budget categories worksheet, and a monthly budget template.
Many years ago, my husband and I paid off $266,329.01 in 33 months. This debt-free journey completely changed our financial trajectory, and the person I am today. Now, I feel in charge of my time and money, instead of the other way around.
Before I go on, I want you to know that the debt-free journey wasn’t rainbows and sunshine. It was grit, determination, and the willingness to see our plan through. The most important step, was the first one. Once I got on board with budgeting (I did not want to do it at first), I was also making the first step towards our goal of financial freedom.
I’ll answer a few commonly asked questions here:
“What is the best way to get started on paying off your debt?”
Before you start getting into the actionable steps, I would figure out your financial goal, plan and purpose. Make your goal specific, and measurable. Make your plan sustainable, and make your purpose so important that it will keep you inspired and excited during your debt-free journey.
“You paid off $266,000 of money, wow, that’s alot, what did that consist of?”
That debt consisted of credit card debt, the car loans for 2 financed, new cars, and the mortgage balance of a condo we used to live in (we have since sold it to purchase our dream fixer upper home), we now have a very reasonable mortgage.
“Do I need to go on a budget?”
You can call it a budget, or a spending plan, but yes you need to get on some kind of a budget. It’s important to see where your money is going, and what it’s doing for you. When your expenses are written down, it provides clarity to where you are overspending and what you can divert towards your debt.
“I don’t want to stop spending money if I go on a budget.”
Me too! At first I didn’t want to go on a budget, I thought they were boring, and meant I couldn’t spend any money. What I learned is that a budgets are exciting and give you permission to spend on things that matter the most to you, and it gives you control to plan for your future.
“Easy for you to say, I don’t make enough money.”
I believe that you can change your situation if you really want to. There are lots of high-earners who feel like they don’t make enough money. By having unwavering dedication for your goal, you will find a way: whether it’s picking up extra jobs, hours, being resourceful and creative in cutting expenses, it will happen if you want it to. As Henry Ford said: “Whether you think you can, or you think you can’t, you are right.”
“I still want to live a good life, I don’t want to sacrifice all of my time with my family to become debt-free.”
I hear you and I understand. I have now been on 2 debt-free journeys, both of which are completely different: My first debt-free journey was high-intensity, and before kids. My current debt-free journey is low-intensity, and we now have 2 children. You get to choose the pace that you pay off your debt. Whether it’s fast or slow, the point is that you get it done at the best pace for you.
I hope you walk away from this page feeling empowered and encouraged to take that first step towards living life on your own terms!
Thank you for reading and stopping by!