Being a single parent is not easy. And making the choice to become debt-free while being a single parent is honorable. Trusting in God and keeping your eye on the ball will give you victory.
On today’s episode of The His & Her Money Show, Danesca, a single mother and woman of faith, shares her story of debt freedom.
The consumer debt of $38,833.09 included credit card bills, a car payment, and medical bills she incurred due to Hyperthyroidism. Danesca paid it all off in only 16 months.
Including The Kids
She decided to become debt-free and explained it to her children. They became her accountability partners. It was not easy in the beginning. Together they pushed through by working together.
The Reason
God spoke to Danesca through dreams. He showed her that she was going to leave her company. Danesca took the dreams seriously. Looking at her finances, she realized she was going to have to make changes. She started saving. One cheque was used for her expenses. The next cheque went straight into savings.
After losing her job, she cried a lot but she found strength in the Lord to overcome. The verse she stands on is Psalm 46:10 “Be still and know that I am God. I will be exalted among the nations, I will be exalted in the earth!”
Clever Ways To Save Money
Danesca cut off her cable subscription. The children were sponsored in sporting activities. They did activities in church that was free of charge. And she used a lot of coupons to save money.
She taught her children the value of money. They would get a certain amount to buy something. This taught them to look at the price before buying.
Attitude
Danesca quickly changed her attitude after realizing how much interest she was paying. And by making the minimum payments, she was going to be in debt for a very long time.
How To Stay Focused
Danesca encouraged herself and her children by keeping the end goal in mind. They wanted to buy a house. That was their goal. Educating her children about debits and credits helped them all on the journey.
Keep Your Peace
Steward your money well. Pay off your debt. Have some savings. This prepares you for the future and helps to keep your financial peace. Some people will support you. Some won’t. That’s okay. Keep your eye on your goal. True friends will stay by your side.
The Wonderful Day
Danesca felt a weight lift off her when the last of her debt was paid off. Like she could breathe again. Telling her children was a joyful experience for all of them. All the frugalness paid off.
Get in touch with Danesca on Instagram and on YouTube
What You Will Learn
- How a single parent can become debt-free
- What the difference is between needs and wants
- How to include your children on the debt-free journey
- Different ways to save money
- How your attitude can help or hinder you
Resources Mentioned
- Discerning The Voice Of God – Priscilla Shirer
- Financial Peace Revisited – Dave Ramsey
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.
