Every sports person will tell you without discipline you won’t go far. This is true for sports and life. Every one of your goals needs your discipline to come to fruition. The good news is it’s up to you. The bad news is it’s up to you.
On today’s episode of The His & Her Money Show, Mary Wheeler shares her encouraging journey with infectious optimism. As a single woman, she paid off $30,000 in 96 days! Yes, you read right. 96 days.
Her Story
Mary’s debt encompassed $27,000 in student debt and $3,000 in credit card and a little 41K debt. Born and raised in the projects, she describes herself as being broke, but not poor.
No family vacations. No trips to the mall. She didn’t have the foundation of using money as a tool. She was taught to use money but not save it.
In college she got loans to get her degree. Once she graduated, reality hit her. She had two part-time jobs. One to make sandwiches and the other to sell shoes.
When she landed full-time employment, she was earning $30,000 per year. Mary bought clothes and all kinds of stuff. As she got promotions with raises, she continued to be a spender. She had no budget and mindlessly paid her bills.
Her Pivotal Point
Then, one day, she realized that after eight years she still owed $27,000 on her student loans. And she thought: This is ridiculous.
In March of 2016, she made up her mind and created a budget for each month. She realized that if she kept to the budget, she would be able to pay off her loans in two years.
Near her 30th birthday, Mary had the opportunity to work overtime. She put in 12 to 14-hour workdays and only took one day off every 14 days.
All that money she put towards her debt. And her student loan debt went down, down, down. This made her super excited and she kept at it. Within 96 days she was done with debt.
Her Self Assessment
Mary did a SWAT analysis on herself and realized the only thing that was holding her back was her. She faced the fact that she was spending too much. By cutting her expenses, working longer hours, and using $10,000 from her savings, she crushed the debt.
She decided to protect her goals from the naysayers and had two accountability partners. When obstacles came, she gritted her teeth, remembered that she has made a commitment to herself, and continued down her path.
Choosing an accountability partner is important. Make sure their values and your values align. They need to have integrity. Best to choose wisely.
Her Big Day
On the big day, Mary logged into the account and paid her last payment. She felt SO relieved. It feels surreal because she thought bills were part of life. Now she knows that was untrue.
Mary is going to help other people to become debt-free to leave a legacy for the next generations. She is saving up for a vacation in Africa.
Through this journey, she learned what her discipline can do for her. And now she knows if she can commit to herself, she will be able to commit to someone else.
Get in touch with Mary at http://abundantwealthsolutions.com.
What You Will Learn
- Why money is a tool for you to use
- Find out what is really holding you back
- Why sacrifice is worth it in the long run
- How to stay committed to your goals
- What is discipline
- Who to share your dreams with
Resources Mentioned
- Know Debt, No Problem Podcast with Mary A. Wheeler
- No Excuses! – Brian Tracy
- Think And Grow Rich – Napoleon Hill
- Automatic Millionaire – David Bach
Thanks For Listening!
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Today’s show is sponsored by Legal and General America. Legal & General America makes understanding and applying for life insurance easy. Also, agents are standing by to help you determine the best coverage to fit your family’s needs. Visit HisandHerMoney.com/lgapodcast to get started on your journey toward financial wellness.
