149 | Debt-Free After Divorce: How This Single Mom Paid Off $17K in Debt, Saved $24K & Turned Her Finances Around

Book A Free Financial Coaching Call! Hey there, lovely listeners! 👋 We've got an inspiring case study to share with you today about budgeting after divorce and the challenges of managing finances on a single income. Even if you haven't experienced divorce, this episode has valuable insights for anyone looking to improve their financial game.. Let's dive in! 🌊💪 Our amazing client embarked on a seven-month coaching journey with us during her divorce. She was a single mom with three kids, juggling various debts, and living on a single income. Her story is a testament to what's possible when you take control of your finances.📋 What did she accomplish? Let's break it down:Income: $3,600 per month (on the conservative side)Debt Paid Off: A whopping $17,000, including clearing all collections!Minimum Monthly Payments: Reduced from $5,091 to $0 Savings: Skyrocketed from $1,000 to $24,000 🚀👨‍👩‍👧‍👦 She also involved her kids in the financial journey, teaching them about budgeting and the importance of saying "no" when necessary. It's a valuable life lesson that will serve them well.📊 Organization and strategy were key. She took action, called collection agencies to negotiate early payoff amounts, checked her credit report monthly, and even used her tax return to tackle credit card debt. Remember, it's all about smart money moves!🚗 Dealing with multiple cars and accounts tied to her ex-husband was a bit complicated, but she faced it head-on. She had to change the names on accounts and even sell a car to make her financial life more manageable.💔 Closing the chapter with her ex was challenging but essential. It allowed her to gain closure and move forward, unburdened by financial ties to the past.💡 The bottom line? Budgeting after divorce and managing a single income can be tough, but with the right plan and support, you can conquer it. Our client's journey is proof that financial freedom is within your reach. Connect With Us: 1️⃣ Facebook Group – Join the community. Our free group is where the real talk happens. Connect with other women who are learning how to budget, save, and finally feel in control, together. ➡︎ budgetbesties.com/facebook 2️⃣ Automate Your Budget Masterclass – Watch it now, no waiting. This FREE on-demand training shows you how to set up a budget that matches your lifestyle, without tracking every dollar or feeling restricted. ➡︎ budgetbesties.com/automate 3️⃣ Budget – Grab our Simplified Budget System! You don’t need another budget, you need a system that does the math, makes the plan, and gives you permission to spend. ➡︎ budgetbesties.com/budget 4️⃣ Private 1-on-1 Coaching – Get a plan and a coach. We’ll build your full budget system together, so you always know what to do and feel confident doing it. ➡︎ budgetbesties.com/coaching 5️⃣ Be on the Podcast – Free coaching, real convo. Come chat with us on the show! Get real-time financial coaching and help other women by sharing your story. ➡︎ budgetbesties.com/livecall "I love Shana & Vanessa and this podcast is amazing!" 👈🏻 If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. Click here to view our privacy policy. This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!