Why and How I Decided To Pay Off $71k+ In Debt

I started my financial success story in 2015. It was a hard year. After trying to accomplish a few financial goals with no success. I decided the answer was to work harder to make more money to offset my debt. It was a flawed plan, but one that many people convince themselves will solve their money problems. My concern for money deepened and it was always on my mind.

“How am I going to qualify for the house I want? I guess I will work even harder.” The plan back fired and in the Fall I was diagnosed with stress induced anxiety, but that wasn’t after a lot of testing. I was pretty healthy and never showed these signs before. Racing heart rate, sleep apnea, migraines and fainting all lead me in and out of the emergency room. The doctors thought it was something bad. My parents and boyfriend never saw me like this and were very concerned. I went through several tests, including wearing a heart monitor for a month. Then the truth came out, I was putting myself through so much emotional stress it turned into a physical illness.

I decided at that moment that I needed to change. I left my job and started over in a new career. I went from an income of over $65k to $40k. This was only the tip of the iceberg. I took a long hard look at my relationship with money. The answer all along was not to make more money, but to pay off my mounting debt that got even higher due to medical bills. It was hard and scary, but my long-term health was more important than the immediate fear of change. I started to focus all my energy on living on a budget to pay down debt first and increasing my income second. This allowed me to increase my quality of life. I learned to change my expectations and work on my relationship to money.

It took six months of emotional and financial work to cure my anxiety. It was a private journey, since no one I knew ever paid off a massive amount of debt before. I learned patience and the truth about balance in life and money. Since then, I have continued to move up in my field more than doubling my salary. I no longer have anxiety, but I handle my money with respect and care. This new respect for money has allowed me to pay off $71,984 debt. In addition, I was able to pay cash for my wedding and renovations on my property. As well as, dramatically increasing my savings rate. Taking care of my money also encouraged me to change other parts of my life. I have lost weight, going from a size 14 to 4.

It all started with creating a plan for my financial success, which inspired me to create a plan for my life. I feel driven to share what I learned and demystify the truth about money. The answers are not always fancy, but they are doable. After paying off debt I began to share my knowledge and found true joy guiding people through their financial success story. It can be done with a plan and motivation!

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If you are curious how to start your financial success story with my guidance contact me at kendall@jonescoachinggroup.com.