Are you tired of feeling overwhelmed with your finances? Do you want to pay off debt but don’t know where to start? In this episode of the Purpose Driven Mom Show, money coach Ashley Patrick shares her debt payoff journey and practical tips for managing your family’s finances.
Ashley emphasizes the importance of creating sustainable habits and routines when it comes to managing finances. Instead of making drastic changes that are not sustainable in the long run, she recommends starting with one thing at a time and focusing on foundational steps, such as understanding your bank balance and planning for upcoming bills.
To stay motivated and track progress, she suggests creating visuals and keeping a small notebook to increase awareness around spending habits. She also stresses the need to avoid an all-or-nothing mentality and to build sustainable habits that become second nature over time.
Ashley also talks about the fear and anxiety that can come with facing financial problems. She says that scheduling a time, date, and place to work on finances, even if it’s just for 20 minutes, will be HUGE in creating a financial routine.
Lastly, when it comes to working on finances with a partner, Ashley emphasizes the importance of communication and compromise. Dreaming together and discussing what you want your future to look like can help you work together as a team.
Ashley’s debt payoff journey and advice highlight the importance of taking things one step at a time and building sustainable habits. By doing so, it’s possible to relieve the mental load of managing finances and provide more options in life. Listen in!
03:05 Ashley shares her personal debt payoff journey
09:05 The importance of not doing everything at once when it comes to paying off debt and managing finances
12:36 How to build habits and routines that are realistic and sustainable for long-term success in managing finances
06:24 How being intentional with what was left over after paying regular bills helped her pay off her debt in just three months
13:20 Asking yourself why you want to pay off debt and the end goal of being able to maintain a realistic lifestyle
15:34 Starting with one thing at a time, focusing on the bank balance and planning the next paycheck cycle to get ahead
18:54 The fear of acknowledging spending habits and how to involve partners in managing finances
19:31 The importance of scheduling a time to check finances
23:00 Dreaming together with her husband
28:12 Having an accountability system for achieving goals
30:44 Making visuals to combat lack of motivation and to track progress
33:05 Building routines and habits around finances to achieve long-term success
35:15 Habit-based budgeting is discussed, with a focus on creating habits that support life and pay off debt, rather than shaming oneself
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