08 I How Maggie Paid off $11,000 In Credit Card Debt in 8 Months

For years, Maggie made an annual goal to get out of credit card debt but despite her best efforts, the credit card debt increased year after year from $2,000 to over $16,000. When Maggie thought about what she needed to do to achieve her goals of paying off debt and saving money she wasn’t able to see beyond her reality, the reality that seemed to say that she’d be in debt forever despite her best efforts. She also held the belief that she would never be good with money because that meant she needed to be disciplined and follow a set of strict rules. Maggie decided to hire a coach because she desired different results. After a couple years of setting financial goals and not meeting them it became clear to her that she needed another strategy. As her financial coach, it is safe to say that Maggie had a resistance to budgeting because she did not see how budgeting would allow her to live a carefree life. Over the course of my one month intensive, Maggie shifted her mindset about money.  She started to see how we were simply making a plan that allowed her to align her finances with her priorities so she could make informed decisions. Her plan allowed her to make room to save for travel, pay extra on her credit card debt to eliminate it within the next 12-18 months, and also helped her prioritize setting aside money for less sexy things like saving for a new roof. Tune into this episode and hear more about the progress Maggie has made in the last year. In this episode you’ll learn… Why Maggie thought budgeting would never work for her because she held the belief that it was about discipline and not freedom How she realized she was making decisions on flawed information about her finances How Maggie started to build a real emergency fund to cover at least 3 months of expenses Maggie’s realization about how she could have credit card debt and still save for other things she cared about like travel How she’s reallotted money since we’ve started working together Maggie’s new definition of discipline and how it’s helped her to be indulgent in with her spending without guilt or fear Having a budget doesn’t mean you won’t be able to enjoy your life and I’d argue it’s the very thing you need to see progress towards your financial goals and gain a sense of clarity about the next purchase you want to make.  A budget allows you to make purchases without the stress of wondering whether you’ll be able to pay your bills on time, pay down your debt, or cover an emergency. If you’ve ever thought that life is too short to live on a budget, you’ll want to tune into Maggie’s episode because she held a similar belief - and she moved past it to pay off over $11,000 worth of credit card debt and a three-month emergency fund. And if you're ready to create a budget that makes the life you want possible, schedule a call. Learn more at www.wealthovernow.com and get the full transcript