MONEY DIARIES: From Debt Demons to Living the Dream
Apr 21, 2024
auto_awesome
An inspiring Money Diarist shares her journey from debt demons to financial freedom, discussing childhood money experiences, debt accumulation, same-sex partnership dynamics, family planning, and the emotional journey of paying off debt. The guest highlights the importance of mindset shifts, budgeting strategies, and seeking guidance from financial experts for a brighter financial future.
Transforming financial habits leads to debt freedom and future financial security.
Mental health support and financial stability from partner aid in overcoming personal struggles and building a prosperous future.
Deep dives
Overcoming Financial Struggles and Planning for a Bright Future
The Money Diaries contributor shares their journey from financial hardship to success. Initially carrying consumer debt, student loans, and a mortgage, they embarked on a transformation. Through budgeting, setting financial goals including becoming debt-free by November, funding their wedding, baby plans, and investing, they are on a positive trajectory to financial security.
Improving Money Management and Building Financial Literacy
The contributor acknowledges impulsiveness as their prime money trait. With enhanced budgeting practices, dedicated accounts for expenses, and a commitment to savings, they are reforming their habits. Planning not to buy clothes or accessories in 2024 signals a shift towards mindful spending and prioritizing long-term financial goals.
Embracing Relationship Development and Financial Positivity
Navigating a deep personal struggle and mental health break, the contributor highlights the support and financial stability provided by their partner during a challenging period. By working on debt reduction, building an emergency fund, and seeking insurance advice, they are aiming for financial security and a positive future.
Setting Clear Financial Goals and Envisioning Long-Term Success
With a clear vision for debt repayment, wedding preparations, family planning, and house aspirations, the contributor outlines a roadmap for a prosperous future. Through commitment to financial education, investing, and incremental improvements in money habits, they demonstrate resilience and determination towards achieving an A+ financial status.
This inspiring Money Diarist had a terrible relationship with money, and after a huge life setback which meant time off work (and going broke), she managed to reset, turning around her whole life and money story! With a little help from SOTM, and a whole lot of hard work she's now well on the way to paying off her debts, is engaged, and her future looks so bright. We are endlessly proud of her and can't wait for you to meet her!
Friends! If you loved this episode, then we know you are going to love Victoria's new book, Money Diaries with She's on the Money! This book has been written so you can feel empowered and see that YOU have the power to rewrite your own money story! It's coming in May but you can pre-order your copy now, click here!
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.