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From $3K in Debt Payments to $2.4K in Savings: How One Single Woman Took Back Her Finances | 434

From $3K in Debt Payments to $2.4K in Savings: How One Single Woman Took Back Her Finances | 434

Episode 434 Published 1ย year ago
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One of our single clients came to us with over $263,000 in debt.

๐Ÿ’ณ $3,000/month in minimum payments

๐Ÿ’” No savings

๐Ÿ˜ฉ Business and personal finances completely mixed

๐Ÿ‘‰ But she was ready for change.

In just 7 months, hereโ€™s what she accomplished with our coaching and system:

๐Ÿ”ฅ Her Before:

  1. ๐Ÿ’ธ $263,000 in total debt
  2. ๐Ÿ’ณ $69,000 in non-mortgage debt
  3. ๐Ÿงพ 10 different loans (credit cards, RV, HELOC, debt consolidation, etc.)
  4. ๐Ÿ’ฐ $3,000/mo in minimum debt payments
  5. ๐Ÿ’ผ Personal + business finances mixed
  6. ๐Ÿšซ No emergency fund, no savings system
  7. ๐Ÿ“‰ Living paycheck to paycheck โ€” despite a $7,500/month income

โœ… Her After:

  1. ๐Ÿ’ฅ $263K debt reduced
  2. ๐Ÿงจ Minimum payments dropped from $3,000 โžก๏ธ $1,200/month
  3. ๐Ÿ’ต Saving $2,400/month for sinking funds
  4. ๐Ÿ’ก Business + personal finances completely separated
  5. ๐Ÿถ Has dedicated savings for pets, travel, Christmas, home maintenance
  6. ๐Ÿก Downsized to a condo, paid for all renovations in cash
  7. ๐Ÿ“ˆ Net worth: $684,000
  8. โœจ Living on purpose, with peace and margin โ€” not just reacting to her bank balance

๐Ÿ’ก What She Did (Step by Step):

  1. โœ… Joined coaching for 7 months
  2. ๐Ÿง  Borrowed our belief until she had her own
  3. ๐Ÿฆ Opened 13 accounts (bills, spending, savings, business, etc.)
  4. ๐Ÿ” Set up automatic transfers based on paycheck
  5. ๐Ÿ“ž Called every creditor โ€” reduced interest, deferred a car loan for a month
  6. ๐Ÿ”Ž Canceled warranties + subscriptions
  7. ๐Ÿ“‰ Shopped all her insurances โ€” saved $2,500/year (then another $5,600 when she moved)
  8. ๐Ÿ„ Made a cow savings bucket ๐Ÿฎ (weโ€™re obsessed)
  9. ๐Ÿ“‹ Calculated her actual annual life costs
  10. ๐Ÿ“Š Started using the retirement tab in our budget system
  11. ๐Ÿ“† Learned how to properly plan for 3-paycheck months
  12. ๐Ÿ“ฑ Got organized โ€” and finally felt in control of every dollar

Letโ€™s Take Our Relationship To The Next Level:

1๏ธโƒฃ Facebook Group โžก๏ธŽ budgetbesties.com/facebook

2๏ธโƒฃ Be on the Podcast โžก๏ธŽ budgetbesties.com/livecall

3๏ธโƒฃ Private 1-on-1 Coaching. โžก๏ธŽ budgetbesties.com/coaching

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