We have all, at one point, found ourselves in circumstances we didn't necessarily intend. As much as we don't want to talk about our finances, money and our financial behavior is an important topic that needs to be discussed. While societal or familial beliefs might make discussing money uncomfortable for you at first, it's time to ditch the taboo surrounding conversations about money.

 

As a financial coach, I get to hear your stories, but today, I’m sharing my own personal financial journey. It’s time I reveal where my enthusiasm for personal financial journeys came from and reassure you you’re not alone in your struggles.

 

In the depths of my financial upset, I couldn’t find a fellow mom who provided guidance about the financial challenges of having young children and a boatload of debt. That’s why I do what I do today.  Hopefully, by revealing my own challenges, I can highlight this path we share.

 

My rock bottom looked like a mountain of $80K in debt. I was struggling to make the minimum monthly payments and making cash on Craigslist selling things so I could buy groceries. 

 

For a time, I let my parents' relationship dictate many choices I made in my own life, which didn’t benefit me financially. However, at rock bottom, there’s nowhere to go except up. 

 

 It was time to take charge and make changes for the better, both for myself and as an example for my children. I had the power to change everything.

 

In this episode, listen for:

• The array of feelings, from happily helping my mom through her divorce to drowning in debt because I lacked boundaries with my generosity
• If you don’t focus on the result you want, you’ll end up with a result you dislike 
• My naivety and ignorance of how quickly credit cards add up

 

In this episode, you’ll also hear:

[10:26] Knowing a line had to be drawn at some point. Seeing only $20 in the bank and the conviction I felt to get back on my feet for my family’s sake.

[14:56] Falling into the trap of purchasing a new car and not knowing where the monthly payments would come from.

[20:55] Failing to account for the additional financial expense of raising a second child and the financial missteps made during the first three years.

 

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Learn more about how you CAN create the abundant life you've always wanted at www.reachingabundance.com

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Read the related blog post: https://reachingabundance.com/everything-you-need-to-know-about-how-debt-affected-my-life/

Free Debt Strategy and Budgeting Workbook - https://reachingabundance.podia.com/budgeting-for-debt-freedom-freebie

   

This episode is brought to you by YNAB, my favorite budgeting tool for you and your family.