Debbi King, learned about personal finance the hard way, with over $200,000 of personal debt. Now she teaches financial literacy to people across the US.
How she had the dreams in her mind, but had no idea how to get there. When she hit the wall, she found herself with over $200,000 of debt, making $12,000 a year. Why she was looking in the wrong places for quick-fix answers. How she decided to start completely over. And why she would never recommend bankruptcy for someone else. Even after bankruptcy, she was going back to same habits that got her into the massive amount of debt. Personal finance is 10% math and 90% emotions. When she started asking herself the tough questions about, "Why was she buying all this stuff?" People want the magic pill- The way to fix a major financial problem without any discomfort. How "Keeping Up with the Joneses" got her. "I identified myself a lot with what I owned." She wasn't a fixer on things, she just replaced them. People are afraid of judgment and would prefer to live with the stress. It's not worth it. When you get the habits and emotions in order, your life will completely change. Financial freedom only comes when you set healthy boundaries of your emotions and habits. Personal finance is personal. What worked for me- may not work for you. How you know you are ready for a finance coach. Figure out where you internally to match the budget. It's good to take time and enjoy the journey of getting out of debt. Don't feel like a failure if you take time for yourself while paying off that debt. You have to find a plan that works for you.Resources mentioned:
ABCs of Personal Finance DebbiKing.com @debbikingQuestions? Let's talk: amy@thinkenriched.com
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The episode "Debbi King | Hit the wall. And came out swinging," first appeared on Think Enriched.
