When you first begin to tackle your journey to debt-freedom, where do you start? Maybe you look online for some guidance, but so often, when we have premade budget trackers thrown at us, templates and plans we find online, they don’t work for us. It makes us feel like we’ve failed, and those loans feel more and more insurmountable.
This happened to Miko Ehrmantraut, over and over and over again. Divorced, drowning in student loan and credit card debt, and suddenly a single mom, she made her first budget 9 years ago. During her journey, managed to knock out a whopping 70k of debt in a mere 8 months. But how did she do this?
Miko emphasizes the importance of self-love and self-discovery in her journey. Before being able to successfully tackle her debt, she first had to disentangle the psychological and emotional forces behind her desire to spend money.
By taking on her impulse to constantly compare herself to others with more, to parents who spent more on their children, Miko tossed aside those premade budget plans and built a plan and lifestyle that was unique to her personal needs and goals, thereby jumpstarting her now seven-figure, debt-free business as The Budget Mom.
In this episode of His & Her Money, Miko shares the frustrations she had during her debt-free journey, the risks she takes by being completely vulnerable and transparent with her online audience, and the underlying motivation that has driven this entire process – her son.
As a single mother, with no option to give up or fail, Miko has powered through long nights of budgeting, learning side hustles, and eventually, building her successful business.
Now, through this whole journey, Miko has not only become debt-free but has also built a closer relationship with her son, planned for their future, and inspired thousands to tackle their debt and realize that a fulfilled life is created not by how much you have, but how you live your life.
What You Will Learn
- How to find a budget that works for your unique life
- Ways to tackle underlying emotional and psychological triggers behind spending money
- How to find extra money by reducing bills and expenses
- Learning a side hustle to make extra money
- Lifestyle changes you can make as a parent
- How to prioritize quality time with your child
- How to psychologically prepare yourself for starting a business
- Ideas to make money online
Resources Mentioned
Thanks For Listening!
Special thanks to Voleo for sponsoring this episode. Voleo is the first mobile app designed to help people invest in stocks together through investment clubs. Visit HisandHerMoney.com/Voleo for more info.
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