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Sober Women Managing Money & Mental Wealth

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How to Prioritize Your Debt Payof

August 3, 2020 By Deanna 4 Comments

Photo by Jake Hills on Unsplash

Today I want to talk about something near and dear to my heart which is how to prioritize your debt payoff. There are many theories of how to do this but I’m going to speak from experience and practicality.

First and foremost, here are my thoughts about debt. Debt is tough. Debt costs money. Debt can be avoided. The bible, which is where I get my source of truth states in Proverbs 22:7, “The rich rule over the poor, and the borrower is slave to the lender.” I can agree with that. Whenever I’ve owed someone money, I know that they own part of my paycheck.

I’ve experienced much of my life in debt and then more recently experienced some of my life out of debt. I’ve found that I much prefer the latter but getting there and staying there takes intentionality.

The other thing I want to say about debt is that it’s not wrong. Sometimes, debt is needed. Additionally, the bible doesn’t say it’s wrong. Rather it talks about how it limits our ability to live generously.

Learning to be a wise steward of our finances is a fabulous way to bless others and care for yourself and your loved ones. The mind frame I like to use here is that God owns all the money but He generously asks me to manage 90% of a particular pot. I tithe (give 10% to my church) off the top which leaves me with 90% to manage. I work for God and I want to do a good job with the money He entrusts me with. This mindset keeps me focused on being a wise steward.

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How Frugal Minimalism Can Help You Repay Your Debt

April 13, 2020 By Deanna 16 Comments

Photo by Evie S. on Unsplash

Lately, I’ve become more interested in minimalism as I’ve been consuming Joshua Becker’s stuff. My first revelation of how little I need to be happy occurred while I was paying off my debt. During that time, I made many sacrifices such as living with my folks in my early 40’s, reducing my spending and consumption, and plowing most of my income to my debt.

I recognized I was making all of these so-called sacrifices and yet I was no less happy. The most important things to me, relationships, were still a part of my life. I simply removed the spending money factor from the equation. Sure it required some creative thinking on how to foster these friendships in new ways. However, spending time doesn’t have to cost anything

Over the past several years, I’ve enjoyed a minimalist Christmas. Additionally, as I’ve moved into apartment living, I’ve learned to live in smaller spaces and reduce the number of things I own. BTW, I’ve moved to a new apartment recently and it’s phenomenal. I owe you a post about the sweet deal I struck up!

Additionally, I’ve reduced the amount of clothing & shoes I own and am embracing a minimalist wardrobe. I love, love, love it. 

So this article talks about how you can embrace minimalism & frugality together in an effort to pay off your debt. I think we are all a little stressed right now with the COVID-19 pandemic occurring. It’s unlike anything we’ve ever been through before. It’s hard in so many darn ways!

I would imagine that anyone who currently has debt and/or little or no savings and might be feeling the heaviness of this. I used to feel that heaviness, Every. Dang. Day., when I lived paycheck to paycheck.

However, now with the huge downturn in the economy, many folks are additionally facing layoffs. Ugh.

Good Nelly has written the following guest post for my readers on how she sees the intersection of minimalist and frugality being useful to use in paying off debt. Let’s face it, none of us is spending a lot of money right now. So, if you are able to engage in any of these strategies now for future freedom, more power to ya!

Enjoy and happy freedom to you. I’ve added my commentary in blue below too. 🙂

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How I Managed to Repay My Credit Card Debt

February 10, 2020 By Deanna 6 Comments

Photo by Fuu J on Unsplash

I’m thrilled to bring you another inspiring and practical story in my interview series, Inspiring Women in Recovery. This is a story of recovery from credit card debt which is probably something many people can relate to. It is something I also had to overcome once I began to work on my finances in sobriety.

Today’s story comes from a lady I’ve met in the personal finance world. Additionally, she has written a few guest posts for me previously. She goes by the name Good Nelly in the personal finance world.

I hope you enjoy and glean some practical advice from Good Nelly’s personal story of recovery from credit card debt…

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Student Loan Repayment: When To Pay The Minimum, When To Refinance, & Everything Else You Need To Know

August 5, 2019 By Deanna Leave a Comment

Today’s post is a quality piece that was written by Travis Hornsby of Student Loan Planner. I first heard Travis on episode 078 of the ChooseFI podcast and was really impressed at the services he provides in helping others pay back their student loan debt.

He has some valuable advice that I agree with so without further ado, here is Travis…

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About Me

My name is Deanna and I am happy to be on this redemptive path. I got sober from drug addiction/alcoholism in 2010 and returned to a faith in Christ. Additionally, I finished digging my way out of debt in 2017. Today, I’m learning to be a wise steward/investor of my resources while helping other women find their victories too. More about me.

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