Jodi Smith, creator of the blog Abundance of Jo and a rising star in personal finance, shares her inspiring journey from $50,000 in debt to financial empowerment. She offers practical strategies for balancing debt repayment with savings, highlighting the emotional aspects of her financial turnaround. Jodi discusses her approach to personal finance education through blogging, negotiation tips, and the importance of compassion in financial discussions. Her insights empower others to take control of their finances and build a brighter financial future.
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Jodi's Debt-Free Journey
Jodi Smith, inspired by So Money, paid off $50,000 of debt in six years.
She balanced debt repayment with saving and investing by listening to podcasts and creating a practical plan.
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Balancing Debt and Savings
Save while working, even with debt, and make extra debt payments.
Service your emergency fund, retirement, and a fun fund alongside debt repayment.
question_answer ANECDOTE
Education for Higher Earnings
Jodi's biggest step towards earning more was returning to school for her MBA.
This allowed her to transition to a higher-paying role in retail e-commerce.
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A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power
Rachel Rodgers
This book details a realistic and achievable path for women to create the support, confidence, and plan needed to own their success and become millionaires. Rachel Rodgers addresses various obstacles such as shaky confidence, knowledge gaps in wealth building, imposter syndrome, and a misguided mindset about money. The book provides strategies to stop making 'broke-ass decisions' and start making 'million-dollar decisions,' including an eye-opening history lesson on how women and people of color have been shut out of wealth-building opportunities. It also includes practical advice like Rodgers’ $10K in 10 Days Challenge and emphasizes the importance of setting higher financial goals.
Today's episode of So Money is a full-circle moment. I’m thrilled to welcome Jodi Smith, the creator of the blog Abundance of Jo and a rising star in the personal finance world. But before she became a go-to resource for money advice, she was just like so many of you—Googling 'personal finance help' and landing on So Money.
Jodi’s journey is nothing short of inspiring. From moving to Canada for her MBA, taking on and paying off $50,000 in debt in just six years, to creating a financial plan that balances debt repayment, saving, and even treating herself, she has been organized and intentional every step. Along the way, she turned her financial wins into a platform to help others.
In our conversation, Jodi shares how she found motivation through the podcast nearly a decade ago, the strategies she used to climb out of debt while building wealth, and how her blog empowers people worldwide to live their best financial lives. We also dive into her philosophy on making money, negotiation tips, and why compassion is key to personal finance education.
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