Since starting my blog in 2016, I have made some pretty awesome online friends that not only inspire and motivate me but are also people that I can admire from afar since we’ve never met in person. I’ve been wanting to introduce new people to my reads so I figured, what better way to disseminate the information/wealth of knowledge they bring to the table than to just create an awesome mashup post about it! So I rounded up the troops and wanted to focus on one specific theme- Colonia del Valle Debt Free Journeys.
This post is not only intended to introduce you guys to different folks and money styles but to also show you that you are not alone. No matter where you are at in your money journey, a majority of us have more in common than we think. Whether it be struggling with FOMO, patience, budgeting etc., just know that 99% of the time you aren’t flying solo. What I love most about this post is the fact that all of the stories/lessons, while all circumstances are very different in nature, have some pretty similar themes. There are a ton of online communities you can make your home, from the financial independence movement to the #debtfreecommunity on Wakkanai Instagram, there is something for everyone.
Here are 8 other personal finance folks you can learn a thing or two from:
1) Kumiko @thebudgetmom on IG (www.thebudgetmom.com)
2.) Dj & Dannie @penniestowealth on IG (www.penniestowealth.com)
The hardest part: Not being able to keep our own money! 🙂 We both want to build our net worth and reach financial independence by the time we hit our 40’s. Every dollar we’ve put towards debt is a reminder of the money that could have been put towards savings/investments. But, that’s why it’s so important to avoid debt and get rid of whatever debt you have so that you can start doing better things with your money!
3. ) Amanda @debtfreeinsunnyca and the person that started the #debtfreecommunity hashtag on IG! (www.debtfreeinsunnyca.com)
4.) Maria @ModernBudgetCurl on IG (www.youtube.com/c/modernbudgetcurl)
Start Date: February 10th, 2016
Starting Debt: $88,135.80
Current debt: $00000 lol
Debt free date: April 20th, 2018
Biggest lesson learned so far: The biggest lesson I learned was that regardless of how many times you may fall or go over budget you can still stay the course if you have a community of people who support you. Have people around you whether on social media or in person is important in order to make sure someone is keeping you accountable and someone is there to keep you going when you feel like quitting.
The hardest part: The hardest part for me was my FOMO (fear of missing out). When I came home from deployment I saw everyone buying new cars and enjoying their money but I didn’t have big savings to show for all the money I made. Instead, I had less debt which wasn’t something physical for me to see. Also being single and having some of my friends not understand what I was doing was tough. I wanted to go out and enjoy my twenties and make are to live life. I know first hand how short life could be and it was hard for me to say no to making current memories with friends for a debt payoff that seems so far away.
5.) Veronika @DebtsToRiches on IG (www.debtstoriches.com)
6.) Stephanie @debtfreemamabear
Starting date: 2/1/18
Starting debt: $34,761.95
Current debt: $22,774.05
Biggest lesson learned so far: The biggest lesson for me was that debt was holding me back. Unlike many others, debt never hung over my head or was a worry in my life. I never really thought about it. I knew I had credit card debt and a car loan, but it was never something that I had anxiety over. I was living paycheck to paycheck with no savings, but paid all my bills and had everything I wanted. I continued to add to my credit card debt monthly. Once I began my debt free journey, debt became this huge weight I needed to be lifted and suddenly became the thing that was holding me back from all my dreams.
The hardest part: You need spending money built into the budget. This one is really difficult for me and I still haven’t mastered it. I have only been on this journey for a few months and don’t budget spending money. I am learning that I need it or I will inevitably break the budget, feel guilty and spend more. It’s important to build boundaries so you can spend without guilt and stay on track.
7.) Miranda on IG @debtfreepeach
Starting date: January 1, 2017
Starting Debt: $56,031.51
Current Debt: $11,855 left in student loans. But I’ve added about $6,000 in debt since starting my journey for braces.
Biggest lesson learned so far: The biggest lesson for me is to remember not to constantly work myself to death just to pay something off a little sooner. Last year, I decided to get a PRN job somewhere else that was over 45 min drive. I got stuck in traffic one day and it took me an hour & half to get there. Just because I was too impatient to wait for more shifts to become available at my current job (which is only a 10 min drive!).
The hardest part: The hardest part for me is life & being patient. I could have saved up for my braces & paid cash but I didn’t want to wait a few extra months since it was interest-free debt. So I don’t always make the best financial choices because I’m impatient & always scared I am missing out of life.
8.) Camilo @thedebtfreeguys (youtube)
Start Date: September 2017,
Starting Debt: $153K
Current Debt: $109K.
Biggest lesson learned so far: Finding happiness in every circumstance
The hardest part: the Hardest part is FOMO
Questions for you, drop a comment below:
- Do you have any lessons you want to share?
- Are you currently on a debt free journey?
- Were you inspired by any of the numbers/lessons?
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Eric says
1. The biggest lesson I found was that we are imperfect. You’re going to make mistakes along the way no matter what you are doing. There is a certain amount of grace that you have to give yourself. A mistake is only bad if you did not learn something from it.
2. Even though I have paid off all of my debts, I continue on my debt free journey. I have no credit score and am living just fine. I can rent a car and I can make online purchases with my debit card. It’s wonderful not having to worry if my bills will be paid or not.
3. I had forgotten about the FOMO. It is a real thing that needs to be addressed. Since I’ve been on the path of Financial Freedom, I don’t compare myself to others and march to the beat of my own drum. It’s nice to be reminded that not everyone shares this mentality and furthers my resolve to help others!
Carmen says
I love that you have no credit score! That’s awesome. Thank you for sharing your lessons, I 100% agree with the “we are imperfect” statement. As long as we are learning along the way, that’s all that really matters
Terri says
I think the biggest lesson I learned is that even small progress is good progress that shouldn’t be overlooked. It’s not always easy reading these stories of people who are able to put an extra $1000 a month towards debt. It can get rather discouraging. However, I remind myself that even if I can only put an extra $5 towards my debt it’s progress.
Also, corny as it sounds talking myself has helped me stay motivated in the process. I like to say aloud to myself, “My debt doesn’t control me. I control my debt” It’ great reminder that I do have the power to be completely debt free in time.