How Two Young Teachers Tackled $111,000 in Debt
Why You've Got to Listen to This Episode...
Moments You Don't Want to Miss
What Are Your Family Money Values?
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Key Takeaways to Help You Tackle Your Own Debt
1- You Can Pay Off Debt on a Lower Income
2 - You Need to Pay Attention to Your Spending
Fortunately or unfortunately, there is no getting around this. As Allison mentioned, when they didn’t track their spending, those small $5 or $10 expenses didn’t seem like a big deal. But when they looked at them all together, they made a big impact.
And while reviewing your spending once can make you aware of those small purchases, you have to keep tracking if you actually want to cut back. Because those emotional and habitual expenses sneak up on us, especially when we’re tired, stressed, or overwhelmed.
I promise, even once you’ve done it for a while and feel like you don’t need to budget anymore, as soon as you stop tracking—your expenses will go up. And chances are, you’ll be spending money on things that don’t bring you any more joy.
3 - Your Goals & Your Methods Should Be Unique to You
Allison made such a good point about us all needing to find the money systems that work for us. Just like you have to choose a budgeting method that works for you, the process you use to manage your money also has to work for you.
When we think about systems and routines, I think we sometimes start to believe we’re robots that just need the right programming. But all of our lives run a little differently. Our personalities are all different.
Learn from experts like Allison and I. Try different apps and strategies. But tweak what you learn to fit who you are. You know yourself best. And it will make creating long-term change so much easier.
Links & Resources Mentioned
Connect with Allison
Allison is a blogger, influencer, speaker, and the founder of Inspired Budget. As a teacher and small business owner, Allison combined her passion for teaching and finances to help others learn how to start budgeting. Since starting Inspired Budget in 2017, Allison has been able to retire as a teacher and take her desire to help others full time. Now she is helping women all over the world get started with budgeting when they feel lost and overwhelmed. She has built a tribe of over 88K Instagram followers that turn to her for budgeting advice and inspiration to save more than they ever imagined!
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