Equipping, motivation and education are all things needed to inspire you on your journey to financial freedom.
There are many tools at your disposal like podcasts, blogs, videos, books and conferences, to name but a few. So, why not get up, get out and do something.
On today’s episode of The His & Her Money Show, Justine Nelson, founder of Debt Free Millennials, shares her story of debt freedom.
She teaches her generation how to become a debt-free millennial, stay in control of their money and live that life that they love.
The Devastating Phone Call
In 2008, as a sophomore in college, she received a phone call from her mom and her mom explained that she had been laid off from the job where she had worked for 25 years. Justine’s mom and dad could no longer support her financially.
She then started realizing the value of money. Furthermore, she waitressed and had to take out loans to make ends meet. When she graduated she had more than $35000 in student loan debt. She started working as an intern at an ad agency making $10 an hour. She moved back with her parents.
In this time, the Federal Government sent her notification that she owed them $230 minimum monthly payment for the next 10 years. She realized she would not be able to live the life she wanted to live earning $10 and with this loan hovering over her.
Taking It To The Next Level
It was at this time she got serious and started reading about finances. It made her really mad that she was in this situation and decided to change it. Her goal: get out of debt in 5 years. She started looking at her income and how she was spending said income.
Justine paid off the debt in 2 and a half years by focusing on paying off the debt and paying as much as she could towards the debt, at times as much as $1000. And what makes it so amazing is she did it on an income of $36,000 per year.
Even though she had to face major upheavals (her parents that could not support her financially and the letter from the government), she decided to change her mindset. She realized it was up to her to change her financial situation.
The Bigger Picture
Justine always knew that God had bigger plans for her life. She testifies that she had to go through what she went through to help others and teach others about finances.
Her first step was to create a budget on an excel spreadsheet and track her monthly spend. She kept on concentrating on her calling and her goal and would not allow FOMO (fear of missing out) rule her life.
Justine took on some side hustles (like babysitting) but she also proved herself at the ad agency by working hard and diligently. They offered her a full-time position with a higher salary. She kept on climbing the ladder, each time, negotiating a better salary.
Teamwork
Her husband, then her boyfriend, helped her to stay on the path that she had chosen. After some soul searching, she realized she wanted to start her own business regarding personal finances.
Justine and her husband discussed her dreams and goals with her husband. She encourages would-be entrepreneurs to find a skill set that they are good at and that they can make money at and find additional income streams when starting your business.
She believes dreaming, setting goals and planning your future together will make your marriage solid.
Get in touch with Justine at https://debtfreemillennials.com/.
WHAT YOU WILL LEARN IN THIS EPISODE
- Why you should read books and blogs to enrich your knowledge about debt freedom
- What a decision can do for you and your financial situation
- How to become tenacious when it comes to paying off debt
- Why a written budget is so important
- How to give your money direction
- How social media can help your business
- Why it’s imperative to discuss finances with your spouse/partner
- How to find a skill set that you can make money at
- How to use a project management tool to track your tasks
- What a business coach can do for you
RESOURCES
- Love and Respect: The Love She Most Desires; The Respect He Desperately Needs by Dr. Emerson Eggerichs
- Asana Project Management tool
- Smart Passive Income website by Pat Flynn
- Think Creative Collective
THANKS FOR LISTENING!
Thanks for tuning into the His & Her Money Show. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media buttons you see at the bottom of the post.
Also, please leave an honest review of the His & Her Money Show on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we do read each and every one of them.
Today’s show was sponsored by Crush My Mortgage. If you are ready to accelerate the process of paying off your home mortgage and become truly financial free once and for all then enroll in our brand new online course Crush My Mortgage.
