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How To Go From Debt to Investor
Manage episode 303866394 series 2990637
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Overview:
“Even if you don’t talk about money, you learn about money through actions,” says Stephanie Davis Certified Financial Education Instructor. Stephanie grew up with an unhealthy relationship with money. Coming from a single-family home, she was told no a lot. Coming into adulthood, Stephanie wanted to be able to give herself everything she always wanted. Unfortunately, she addressed it in the wrong way and landed herself in some financial stress.
After getting out of the military, Stephanie entered the civilian world. She soon realized that money was no longer a guarantee. Her bad financial decisions had landed her in a situation where she could not afford the lifestyle she had been living. Stephanie knew that she either had to change or continue down the path of debt she was on. With 18 months of dedication, she was able to get out of debt and begin her journey into real estate investing.
Stephanie says the first thing that she had to do was come face to face with where she was at. Looking at the numbers and figuring out where her money was going was the first key to paying off her debt. After that, Stephanie had to cut back significantly on things she was used to spending her money on. She realized she didn’t need all the clothes, she cooked more at home, and she put the vacations on hold. Staying true to her newfound path got her out of 45,000 dollars of debt in under two years.
Learn more about how you can free yourself from the unnecessary stress of debt in today’s episode of Military Woman and So Much More.
Quotes:
“Even if you don’t talk about money, you learn about money through actions and what you see and what you hear other people talk about.” (03:01-03:08)
“I went on a spending spree because nobody could tell me no and because I’ve had this desire of just buying the things that I wanted.” (06:09- 06:18)
“I was so much in debt that I was just trying to stay afloat, that I realized something has to change.” (08:33- 08:40)
"A lot of times we allow money to stress us out and put money in a position of power. Money is not power. We are the powerful ones." (28:53- 29:08)
Links:
Find Stephanie on her Website https://www.financesonpoint.com/
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