Speaker 1: Credit card debt, how to finally get out of it
Speaker 1: quickly and easily for good, and maybe even have a
Speaker 1: little bit of fun along the way and learn something
Speaker 1: about yourself, and most importantly, how to stay out of
Speaker 1: credit card debt even with a little bit of help
Speaker 1: from the thousand Dollar Projects. Good morning, everyone, Welcome back
Speaker 1: to Sugar Mama's Fireplay Podcast. I am Canna Campbell. I
Speaker 1: really hope that you had a fantastic weekend, that you
Speaker 1: recharge your batteries and you are ready to embrace and
Speaker 1: tackle the week ahead. Today we're going to be talking
Speaker 1: about credit card debt, how to pay off that toxic
Speaker 1: credit card debt quickly and easily and have fun along
Speaker 1: the way, and learn a lot about yourself so that
Speaker 1: you never repeat history. And I'm also going to show
Speaker 1: you how to include the thousand Dollar Project to help
Speaker 1: make this process as a fish and pain free as possible.
Speaker 1: But before I begin, just a quick little bit of compliance,
Speaker 1: I need to remind you that all of my content,
Speaker 1: whether it be a YouTube video, a blog post, a podcast,
Speaker 1: something you see on Instagram, everything of mine is general advice. Only.
Speaker 1: The reason why is because I don't know anything about
Speaker 1: your individual situation. I don't know anything about your financial goals,
Speaker 1: your fincial responsibilities and liabilities, your risk profile, and of
Speaker 1: course all the deadlines that you have for your financial
Speaker 1: goals and dreams. So if you're ever listening to me
Speaker 1: talk about a particular financial strategy or a particular financial product,
Speaker 1: please know that it's not personal advice. And if you
Speaker 1: feel like you need to get personal advice, always and
Speaker 1: only reach out to a qualified and licensed financial planner
Speaker 1: that can give you personal advice. All right, let's get
Speaker 1: cracking with credit cards. So if you are listening to
Speaker 1: this and feeling a little bit uncomfortable, a little bit inertia,
Speaker 1: feeling almost like a trigger, well, I'm gonna be honest
Speaker 1: with you, it's probably because the truth hurts deep down.
Speaker 1: You know, you need to confront your issues of credit
Speaker 1: card debt in your life. So if there's a pushback
Speaker 1: or you know, some sort of feeling of discomfort, please
Speaker 1: know it's actually a good thing, because you're going to
Speaker 1: come out of this podcast wiser, smarter, and hopefully really
Speaker 1: inspired and motivated to kick that credit card debt out
Speaker 1: of your life for good. Why is a credit card
Speaker 1: debt so bad? Well, think about it. There are a
Speaker 1: lot of toxic emotions that come with credit card debt.
Speaker 1: I'm not talking about people who use credit card in
Speaker 1: a responsible way that they might have, say two thousand
Speaker 1: lls only on their credit card, but you know it's
Speaker 1: not the end of the month yet and their bill
Speaker 1: hasn't come through. Those people who pay it off and
Speaker 1: for each month, that's fine to use a credit card.
Speaker 1: And I actually have no problem with using credit cards.
Speaker 1: I have one credit card and I use it correctly,
Speaker 1: and I don't create debt. But the problem is when
Speaker 1: it's being abused. That's when it becomes toxic. And if
Speaker 1: we really be honest with ourselves and we look at
Speaker 1: credit card debt and think about the emotions behind the
Speaker 1: credit card debt, they're pretty horrible. They're are very energetically
Speaker 1: depleting emotions such as guilt. You know, I don't need
Speaker 1: to rub it in your face. If you're in credit
Speaker 1: card debt, you know this. And the thing about credit
Speaker 1: card debt, and this is even a good people who
Speaker 1: pay their credit card off in full each month, is
Speaker 1: can you ask yourself what did you buy to get
Speaker 1: into that credit card debt? If you were in say
Speaker 1: seven thousand dollars with the credit card debt? What was
Speaker 1: it that you bought that added up to seven thousand dollars?
Speaker 1: I guarantee you won't be able to list and remember
Speaker 1: every single item that got you into that, say, seven
Speaker 1: thousand dollars worth of debt. That's pretty confronting and pretty
Speaker 1: disturbing to think that toxic damage in your financial well being.
Speaker 1: You can't even actually articulate or calculate or remember what
Speaker 1: it actually was. I'm sure there may have been excuses
Speaker 1: such as, you know, I will I had an unexpected
Speaker 1: dental bill, or you know I had a well, maybe
Speaker 1: something happened to my pet. The truth is you didn't
Speaker 1: have emergency money to stop that from happening. So you've
Speaker 1: really got to be honest with yourself because this is
Speaker 1: when the best and most powerful growth and transformation comes.
Speaker 1: So stop the excuses. Admit to yourself that you're living
Speaker 1: beyond your means. You're not being mindful and aware and
Speaker 1: taking control of your financial bill being, and you're not
Speaker 1: taking your financial life seriously. Something's got to stop. If
Speaker 1: you want it to be better, you want it to
Speaker 1: be different, you want it to be healthier. So once
Speaker 1: you've had a look at the real emotions you're experiencing
Speaker 1: and even write them down about how you feel about
Speaker 1: your credit card debt, and also write down all those
Speaker 1: excuses that you've been justifying to yourself about the credit
Speaker 1: card debt. And what I'm going to say I'm going
Speaker 1: to mention in particular, is occasionally people say to me, oh, yes,
Speaker 1: I've got like, say, twenty thousands the credit card debt,
Speaker 1: but at least it's not as bad as my friend
Speaker 1: who's got like thirty That's like saying, well, I'm a
Speaker 1: smoker and I'm only smoking, you know, fifteen cigarettes a day.
Speaker 1: My other friend smokes twenty five cigarettes a day, Like, no,
Speaker 1: you're still a smoker. That's really bad for your health.
Speaker 1: It's really damaging your health, and you go into you know,
Speaker 1: shorten your life expectancy and make you incredibly ill and
Speaker 1: potentially with huge you know, financial and mental and emotional repercussions.
Speaker 1: So don't compare yourself to anyone. And that also goes
Speaker 1: from a wealth accumulation perspective. You know, you're on your
Speaker 1: own path. Don't compare yourself to anyone, Otherwise you're only
Speaker 1: going to be as good out or as bad as
Speaker 1: that other person. All right, So, once you've written the
Speaker 1: list of the truthful emotions you're experiencing, when you look
Speaker 1: at your credit card statements, you look at how much
Speaker 1: money you owe, you think about those excuses you're coming
Speaker 1: up with. Write them all down so that you are
Speaker 1: facing them head on. I know it's uncomfortable. I know
Speaker 1: there's gonna be a lot of emotional triggers that come up.
Speaker 1: But I promise you it is so worth doing this
Speaker 1: because this is where the change happens. The next thing
Speaker 1: I want to do with you is it's a lot
Speaker 1: easier this one. I promise you you'll start to feel pleasure
Speaker 1: and enjoy, and that is I want you to imagine
Speaker 1: a life where you don't have any debt. You pay
Speaker 1: for things in cash, or if you use your credit card,
Speaker 1: you know that you're immediately going to transfer that money
Speaker 1: onto the credit card, so you have a you know,
Speaker 1: you never actually have an outstanding balance on your card.
Speaker 1: Think about how empowering that feels, how in control, how healthy,
Speaker 1: how energizing that feels. Just using only what you've got,
Speaker 1: not depleting your financial resources. You know, imagine what it
Speaker 1: feels like to even see savings in a separate account
Speaker 1: such as an emergency savings account, or even better, think
Speaker 1: about what it feels like to see that you've actually
Speaker 1: got investments, You've got a share or follow you and
Speaker 1: you know how to add to it, and you know
Speaker 1: that your superinnovation is also organized, or you know that
Speaker 1: you've got a very exciting financial goal going on with
Speaker 1: a separate, dedicated savings account, such as you know, saving
Speaker 1: up a deposit for a home loan. These are things
Speaker 1: I want you to think about because these are things
Speaker 1: that are perfectly within your reach when you are credit
Speaker 1: card debt free. Think about the feeling of freedom, liberation.
Speaker 1: These are all really uplifting and re energizing emotions. And
Speaker 1: if you go back to that list of the toxic emotions,
Speaker 1: you see how they just completely trump all those horrible emotions.
Speaker 1: They add to your well being. They add to your vitality,
Speaker 1: your energy, your epervescence of life. That's what we want
Speaker 1: to focus on, and that's why we need to get
Speaker 1: this credit card debt out of your life for good.
Speaker 1: So this is what I want you to do now
Speaker 1: that you've done the groundwork looking at your mindset and
Speaker 1: your attitude, because you actually realize now, all right, I've
Speaker 1: got to take control of this and get out of
Speaker 1: this type of debt for good. So the first thing
Speaker 1: I want you to do is grab a piece of
Speaker 1: paper and a pen, and I want you to write down,
Speaker 1: from the top of the list the smallest amount of
Speaker 1: debt that you owe all the way to the biggest
Speaker 1: amount of debt. So this would even include people you
Speaker 1: might owe money to. So you might owe, say, for example,
Speaker 1: a parent two hundred dollars, and then you're right, Visa
Speaker 1: eight thousand dollars, and then all right, you know another
Speaker 1: in credit card, you right to say, MasterCard twelve thousand dollars.
Speaker 1: See how I'm starting with the smallest debt at the
Speaker 1: very top, slowly getting bigger and bigger, and writing exactly
Speaker 1: who I owe money to. So this is the start
Speaker 1: of your hit list. You're going to become an assassin.
Speaker 1: You're going to work through your hit list and knocking
Speaker 1: each of those people in your lives or institutions that
Speaker 1: you owe money to. I want you to carry that
Speaker 1: piece of paper around, look at it all the time,
Speaker 1: and think about how you're going to get these debt
Speaker 1: halls out of your life for good, and we're going
Speaker 1: to start nice and easy and simple with the person
Speaker 1: on the list at the very top that is the
Speaker 1: smallest amount of debt. Now you might be wondering, hang on, Canna,
Speaker 1: this doesn't make sense. If you google how to get
Speaker 1: out of credit card debt, everyone says start with the
Speaker 1: person or the institution that has the highest interest rate. Yes,
Speaker 1: that is technically correct, and this that is completely the
Speaker 1: financially the savviest thing to do. But this is where
Speaker 1: I kind of differ. I'm I'm very much about the
Speaker 1: psychology of money and about doing something that you're going
Speaker 1: to feel committed and connected to so that you actually
Speaker 1: pay that debt off for good. So whilst this may
Speaker 1: cost you a little bit more in interest, I promise
Speaker 1: you you'll feel better about this because you'll see the progress.
Speaker 1: You'll feel inspired and motivated to keep going. So what
Speaker 1: I want you to do next is look at your
Speaker 1: budget you've got and look at what your living expenses are. Now,
Speaker 1: if you've never done a budget, please don't panic. Just
Speaker 1: head to the sugar MoMA website, subscribe to our newsletter,
Speaker 1: and you will get a free budget template for you
Speaker 1: to use to get started in doing your own budget
Speaker 1: and everything is selected there, so it's really quick and
Speaker 1: easy to complete. I've thought what I want you to
Speaker 1: do is also factor in repayment plans. Minimum repayment plans,
Speaker 1: that is, for each of those debtors. So you might
Speaker 1: have a ten dollars a week repayment plan in place
Speaker 1: for one person. You might have a two hundred dollars
Speaker 1: per month repayment plan for a credit card institution, for example.
Speaker 1: Put those in your budget now. By looking at your
Speaker 1: budget again, this is a bit of a fronting experience,
Speaker 1: but it's going to allow you to see your true
Speaker 1: cost of living, where all your money goes. And it's
Speaker 1: also going to help you identify things that you simply
Speaker 1: waste money on, things that you don't value, you know,
Speaker 1: taking buying lunch every day in the city, or you know,
Speaker 1: buying fast fashion like you or getting a takeaway coffee
Speaker 1: every day. It's going to allow you to stop and
Speaker 1: question the value. Now if you look at something and go,
Speaker 1: you know what I value that coffee every day on
Speaker 1: my way to work. That's fine. Keep it in there,
Speaker 1: because obviously you want to keep balanced. I want you
Speaker 1: to you know, I don't want you to punish yourself
Speaker 1: in doing this. But you need to be honest with
Speaker 1: yourself and say, all right, well I like it, I
Speaker 1: value this. But instead of getting a coffee every day,
Speaker 1: I'm going to get one just on Thursday and Friday
Speaker 1: as a reward to getting through the end of the week.
Speaker 1: I'm not here to tell you what to cut out
Speaker 1: and what to cut down. That's for you to do.
Speaker 1: That's your business and you only you can identify what
Speaker 1: you value. But you never know what you might discover
Speaker 1: along the way as you go through your budget. So
Speaker 1: as you've set up all those minium payment plans, you
Speaker 1: put them in your budget, you've looked at really expenses,
Speaker 1: and you've gone through and reduced or cut out any
Speaker 1: of your living expenses that you don't truly value. I
Speaker 1: want you to proactively identify those potential savings, and I
Speaker 1: want you to take any extra money that you are
Speaker 1: able to save, such as you know you decide to.
Speaker 1: I'm not going to spend one hundred dollars a week
Speaker 1: on lunches at work. I'm going to take my lunch
Speaker 1: to work, say three days a week, which works out
Speaker 1: i'll say fifty dollars per week, and doing that that
Speaker 1: fifty dollars I want you to proactively take and transfer
Speaker 1: to the person that's on the top of your list.
Speaker 1: So the moment you have transferred that money, and I
Speaker 1: want you to do it in an ad hoc, proactive way,
Speaker 1: so that you get that money out of your account
Speaker 1: before you get tempted to spend it, and you honor
Speaker 1: and respect the responsibility of paying that person off. You
Speaker 1: then go and update your list, and you do the
Speaker 1: same thing the following week. You make the save the
Speaker 1: fifty dollars or whatever the money might be, and then
Speaker 1: proactively ad hoc transfer to that person. Update the list.
Speaker 1: Now we'll do this until that person is completely paid
Speaker 1: back in full, including any outstanding. In the moment they
Speaker 1: are paid and there's no money owing to them whatsoever,
Speaker 1: you can have the pleasure and satisfaction of crossing them
Speaker 1: off the list. You then move on to the next
Speaker 1: person on a list and you do exactly the same thing.
Speaker 1: You use all the same side hustles and hacks and
Speaker 1: budget tips to pay that person off. Yes, you're making
Speaker 1: irregular ad hoc repayments, but the thick trick is is
Speaker 1: you're getting that money out of your account before you
Speaker 1: can potentially spend it, and you are reducing that debt.
Speaker 1: And every time you do this, you update your list
Speaker 1: and you look at Okay, well, gosh, my overall debt
Speaker 1: is no longer fifteen seven hundred, but it's actually fifteen
Speaker 1: two hundred and fifty. Wow, I'm making progress. This refeels
Speaker 1: really really good. And this is where the thousand dollars
Speaker 1: project can come in because you look at ways to
Speaker 1: bring in open up the floor you could say of earning, manifesting, creating, hustling,
Speaker 1: saving extra money in your life, and you focus on
Speaker 1: doing these impararcels of one thousand dollars at a time.
Speaker 1: So obviously you keep going with your repayment strategy. You
Speaker 1: have your minimum payments in plan which are programmed in
Speaker 1: your budget. You're making ad hoc repayments. And if you
Speaker 1: want to add the element of the thousand dollars project,
Speaker 1: this is what you do. You have a separate dedicated
Speaker 1: to savings account and you look to hustle, save, manifest
Speaker 1: create extra money in your life. As on a side note,
Speaker 1: so for example, you might go through your wardrobe and
Speaker 1: you'll go and sell a whole pile of stuff online.
Speaker 1: Might be and you might even look at doing some
Speaker 1: babysitting work, some dog walking, some house sitting, even a
Speaker 1: weekend job, or start looking for a pay rise or
Speaker 1: a promotion or a new job, anything you can do
Speaker 1: to bring in some extra money in your life. And
Speaker 1: if you grab a copy of Mindful Money or one
Speaker 1: thousand Dollars Project, or even watch my videos for free
Speaker 1: online on YouTube, you can see all the different things
Speaker 1: I've done to come up with a thousand dollars a time.
Speaker 1: So you put money into that account, and I know
Speaker 1: it might sound silly, but you might say, okay, well,
Speaker 1: guess what this weekend I had a really free will
Speaker 1: when Netflix and Chill and I didn't spend eighty dollars,
Speaker 1: show what it would have spent. So you put that
Speaker 1: in a thousand dollars project account, and the moment that
Speaker 1: account hits one thousand dollars, you make a lump sum
Speaker 1: repayment to the people on your hit list, of course,
Speaker 1: targeting the person at the top of the list. We're
Speaker 1: making great progress, really efficient, powerful progress of knocking it
Speaker 1: off one thousand dollars at a time, and now you
Speaker 1: can say that you only owe say thirteen hundred dollars
Speaker 1: to master Card instead of two thousand dollars. Now that
Speaker 1: feels really good seeing those powerful lump sums coming off
Speaker 1: your total debts. And as I said, you always track
Speaker 1: a monitor this so you always add up the total
Speaker 1: amount of money you owe and update it. Go great.
Speaker 1: Now my debts are down from originally we're fifteen thousand,
Speaker 1: seven hundred. Now they're down to hundred and fifty. And
Speaker 1: now with this lump sum of one thousand dollars, they're
Speaker 1: down to fourteen two hundred and fifty. Wow, I'm making progress.
Speaker 1: I'm changing history. I'm doing things differently. This is working.
Speaker 1: This feels good. I'm getting back control in my life
Speaker 1: of my spending habits, and I'm learning a lot about
Speaker 1: myself along the way. I'm excited about being debt free.
Speaker 1: These are powerful things you need to realize along the way.
Speaker 1: Remember you're assassin. This is the hit list strategy. Now
Speaker 1: along the way. If you need to give yourself mini
Speaker 1: breaks or even mini rewards along the way, that's okay,
Speaker 1: I'm not This is not about punishing yourself or being
Speaker 1: mean or depriving yourself. Okay, It's about coming from a
Speaker 1: place of love, kindness. But also respect and responsibility. So
Speaker 1: you might say to yourself, Okay, I've gone really hard
Speaker 1: and fast, and I've not you know, say four thousand
Speaker 1: dollars off my say sixteen thousand dollars of debt. If
Speaker 1: you feel the need emotionally and mentally to take a
Speaker 1: little break, and you know say okay, all right, I'm
Speaker 1: gonna give myself a reward, then do it. Just make
Speaker 1: it an intelligent reward. Don't go and undo all the
Speaker 1: hard work by going and buying a thousand dollars handbag
Speaker 1: and getting back into debt. Have that reward obviously paid
Speaker 1: for in cash, and ideally make it a non financial award.
Speaker 1: Make it something really nice to yourself, like taking yourself,
Speaker 1: you know, for aiful walk, or giving yourself a hot bath,
Speaker 1: or borrowing a book from the library, or having a
Speaker 1: weekend where you do something different for yourself, or going
Speaker 1: to a yoga class. We're going and getting something really free,
Speaker 1: I guess frugally friendly, like such as a you know,
Speaker 1: a manicure and pedicure, spa treatment. Just make sure it
Speaker 1: doesn't undo the damage, or if you're getting safe, for example,
Speaker 1: a massage. When you're getting this message, remind yourself. The
Speaker 1: reason why I'm getting this message is because I'm working
Speaker 1: on my goals and I'm making progress, and this is
Speaker 1: my reward to myself. And once this is finished, I
Speaker 1: am going to pat myself on the back and get
Speaker 1: back on the bandwagon with the next thousand dollars that
Speaker 1: I'm going to knock off my debt or the next
Speaker 1: person I'm gonna knock off my debt. Because remember you're
Speaker 1: an assassin. This is the hitless strategy, and if you
Speaker 1: want to do as I said, you're using one thousand
Speaker 1: dollar projects to make this experience even faster. Now, there
Speaker 1: are a couple of other things that really help as
Speaker 1: well to make sure that this really happens, and that
Speaker 1: is to share your debt free journey on social media.
Speaker 1: There are a lot of people out there doing and
Speaker 1: if you have a look on my Instagram account Sugar
Speaker 1: Mama TV, you'll see who I'm following because I follow
Speaker 1: a huge amount of people from the debt free community
Speaker 1: around the world. So have a look and see who
Speaker 1: I'm following. It's really interesting and even though I'm not
Speaker 1: someone in credit card debt, I find it really inspiring
Speaker 1: motivating because it inspires me with my own vesting goals
Speaker 1: and it inspires me also with helping pay off my
Speaker 1: mortgage as quickly as possible. But by putting something on
Speaker 1: social media where you tell people and you share with people, Hey,
Speaker 1: I'm in fifteen thousands of a credit card debt. I'm
Speaker 1: going to try and pay it off. You know, by
Speaker 1: the fifteenth of December twenty twenty one. You're making yourself accountable.
Speaker 1: There are people watching you and they want to see
Speaker 1: you succeed, and you feel responsible to prove them. And
Speaker 1: that's one thing I haven't touched on yet, and that
Speaker 1: is the importance of having a deadline. Never ever set
Speaker 1: a goal with the deadline that's okay, in three months time,
Speaker 1: I want to have paid this off, because you're always
Speaker 1: going to push that deadline three months into the future.
Speaker 1: You're always going to be pushing it forward, like the
Speaker 1: opposite of this chasing your tail. But when you put
Speaker 1: a deadline with a date, a defined day such as
Speaker 1: the fifteenth of November or the seventeenth of June, or
Speaker 1: you know, whatever it might be, you're actually you realize
Speaker 1: that time is ticking. You've got to get pull your
Speaker 1: finger out and get cracking. Actually, see that debt come down,
Speaker 1: I promise you you'll find yourself so much more focused
Speaker 1: to beat the deadline and to get this goal ticked off,
Speaker 1: you know, as soon as possible. And this is how
Speaker 1: I set all of my goals, not just financial ones,
Speaker 1: but even like my lifestyle goals, my fitness goals. If
Speaker 1: I say, okay, I want to be able to run
Speaker 1: for like by four kilometers without stopping, I'll have that
Speaker 1: goal to be achieved by a certain particular date. And
Speaker 1: I definitely see a huge shift and improvement and success
Speaker 1: in achieving those goals. Now as you are going through
Speaker 1: the progress I want you to, you know, paying off
Speaker 1: your debt and feeling good and seeing it coming down.
Speaker 1: And look, it's not going to come down consistently one
Speaker 1: thousand dollars each week. You're going to have bursts of
Speaker 1: you know where you're like, wow, I'm really smashing this goal,
Speaker 1: these goals. This is great. But then you're also going
Speaker 1: to plateau. Just like I talk about the ocean, and
Speaker 1: sometimes there are big waves. Sometimes there's a beautiful ocean.
Speaker 1: You're in the green room catching these incredible waves, and
Speaker 1: then sometimes it's dead calm and you're just platateauing and
Speaker 1: it can feel nice, but it also can feel frustrating.
Speaker 1: That is perfectly normal. That's life, and that's not even
Speaker 1: a debt free life that or debt free journey. That's
Speaker 1: life when it comes to savings up for something particular.
Speaker 1: And that also comes with when you're trying to say
Speaker 1: invest all the time. Like when I'm working on my
Speaker 1: investment goals, there are times in my life where I'm like, damn,
Speaker 1: I've got no spare money to invest. This is really frustrating.
Speaker 1: Or Damn I thought I was going to have money
Speaker 1: to investment. It's got to go towards this expense now instead.
Speaker 1: You know that that's life, and there are times I'm like, wow,
Speaker 1: I didn't expect that to happen. Here's lumps that can
Speaker 1: put towards my share poor follow That's life. You've got
Speaker 1: to learn to work with it. But what I think
Speaker 1: is really really important is you start to think about
Speaker 1: beyond the debt free life. Start thinking about what you'd
Speaker 1: like to achieve financially when you're debt free once that
Speaker 1: credit card debt's gone, and start to get excited about it.
Speaker 1: Start to think about, wow, once some debt free I'm
Speaker 1: going to build up that emergency savings account so that
Speaker 1: I sleep well at night, I never need to worry
Speaker 1: about ever getting back into debt again. And if any
Speaker 1: unexpected expense comes my way, that's fine, because I've got five, ten, fifteen,
Speaker 1: twenty thirty, whatever it may might be, forty thousand dollars
Speaker 1: in a separate savings account to always keep me out
Speaker 1: of trouble, to make sure I never repeat history. Because remember, guys,
Speaker 1: you're listening to this because you want to get out
Speaker 1: of debt for good, and you want to stay out
Speaker 1: of debt for good, and you want to feel good
Speaker 1: about your financial situation. So start thinking about how are
Speaker 1: you going to do this? How much money do you
Speaker 1: want to have it in a savings account, Where do
Speaker 1: you want that savings account to be. How quickly do
Speaker 1: you think you could potentially save up that money. Start
Speaker 1: to empower yourself and motivate yourself, inspire yourself to think
Speaker 1: beyond life. And the really cool thing about being debt
Speaker 1: free is you are no longer coming up with all
Speaker 1: this money having to just having to give it away
Speaker 1: to your previous mistakes or spending habits or toxic habits.
Speaker 1: You actually get to keep that money for yourself. So
Speaker 1: instead of you know, transferring, say that thirteen hundred dollars
Speaker 1: towards MasterCard, when you hustle some money or save some money,
Speaker 1: that thirteen hundred dollars gets to stay with you. You
Speaker 1: get to add it to your net wealth. You get
Speaker 1: to feel really good about it. You're not having to
Speaker 1: chase your tail or feel like you're on the rat race.
Speaker 1: You know, hand to mouth as it goes from you
Speaker 1: know it's not necessarily in the hand to mouth it's
Speaker 1: hand to debt, or you know you are doing things differently.
Speaker 1: You get to keep that money for yourself. You get
Speaker 1: to hold on to it, you get to salvage it,
Speaker 1: you get to see it accumulate and grow. These are
Speaker 1: all really empowering things to see as you see your
Speaker 1: account balance or your savings account balance increase in value,
Speaker 1: or your investment account increase each time you've got more
Speaker 1: money to invest. This is the life I want you
Speaker 1: to be thinking about. This is where I want your focus.
Speaker 1: So this is where I want your attention. This is
Speaker 1: where I want you to feed your inspiration and motivation
Speaker 1: to do things differently, to do things better. You should
Speaker 1: feel excited about that, and this will hopefully drive you
Speaker 1: to put even more things in place to be you know, frugal,
Speaker 1: or to hustle extra money in your life, or to
Speaker 1: come up with some sort of fun, fun challenge to
Speaker 1: get these debts out of your life even faster, and
Speaker 1: ride with it when you're feeling better. It inspired sees
Speaker 1: it allow that to help you smash your goals sooner,
Speaker 1: faster and more efficiently. And always, always, always open yourself
Speaker 1: up to the lessons and the wisdom and the advice
Speaker 1: that the universe is trying to tell you about yourself
Speaker 1: and about your debt free journey. Perhaps it's you know,
Speaker 1: a humbling experience where you realize, okay, I've been living
Speaker 1: beyond my mean Learn from this, because that's when the
Speaker 1: shift happens. That's when powerful growth happens. And then you
Speaker 1: start doing things differently and you feel different, you feel better,
Speaker 1: and the proof is in the pudding. You're going to
Speaker 1: see your debts coming down, you're going to see your
Speaker 1: savings going up, You're going to be really embracing life.
Speaker 1: And I tell you what, there's so much I've seen
Speaker 1: this so many times where people I've coached out of debt.
Speaker 1: Their life is seems so much happier and healthier. They
Speaker 1: have a glow about themselves. Their weight comes down as well,
Speaker 1: which is really interesting. They're starting to explore other areas
Speaker 1: in their life, so you know, they're not shopping as much.
Speaker 1: They're embracing a new hobby or a new fitness or sport,
Speaker 1: or you know, their social circles are expanding, or they've developed,
Speaker 1: you know, come into a new spiritual growth. You know,
Speaker 1: it's really interesting to see when people actually, I guess,
Speaker 1: rip off the band aid of living a toxic life
Speaker 1: and debt, seeing the wound for what it is and
Speaker 1: really starting to heal properly, allowing that woman to heal,
Speaker 1: allowing that scar to repair itself, and for that skin
Speaker 1: to turn back to that resilient, beautiful skin that can
Speaker 1: see the sunlight, breathe the fresh air. The key things
Speaker 1: are review your budget all the time. Don't just do
Speaker 1: your budget and think you don't need to touch that
Speaker 1: for a year. That's not true at all. You must
Speaker 1: always review your budget on a regular basis. There are
Speaker 1: always new expenses trying to creep in the lifestyle creep,
Speaker 1: and there are times where you're going to have to
Speaker 1: update it and make changes because there are new responsibilities
Speaker 1: and commitments in there, whether you like it or not.
Speaker 1: You know, Rock has just started art classes and they're
Speaker 1: about four hundred dollars these art classes every three months,
Speaker 1: I think, and I had to adouptdate our family budget
Speaker 1: to make sure that I accounted for that in there. Also,
Speaker 1: both my kids are growing in a rapid rate. I
Speaker 1: have to every now and again look at the budget
Speaker 1: and go, Okay, I'm gonna have to be a bit
Speaker 1: more tight here so I can make sure they've got,
Speaker 1: you know, clothes that they fit into. And of course,
Speaker 1: always look at your side hustles. Talk to people about
Speaker 1: your side hustles. So many of the best side hustles
Speaker 1: I have from doing a thousand dollars project is from
Speaker 1: other people, from people telling me about, oh, you could
Speaker 1: do this, or you couldn't do that, or I need
Speaker 1: to introduce you to this person because they're looking to
Speaker 1: get some extra help here and they could potentially pay you.
Speaker 1: Talk about your side hustles, look at ideas, get it
Speaker 1: out there that you have a side hustle, because someone
Speaker 1: will want your service or your product or your help
Speaker 1: where you're offering The amount of people I've spoken to
Speaker 1: recently actually that have started doing tutoring helping busy families
Speaker 1: with their kids' homework is incredible. One person I know
Speaker 1: in particular, I think it's making eighty dollars an hour,
Speaker 1: you know, helping their kids get through their homework, and
Speaker 1: the I was like, oh, wow, that's quite a lot
Speaker 1: of money per how but they're busy, They've been booked
Speaker 1: up by other parents who are, you know, time poor,
Speaker 1: and they don't want their children slipping behind at school,
Speaker 1: so they're paying this person to help them get their
Speaker 1: homework done with all their projects and assignments. And I
Speaker 1: can completely understand that because I know how hard my
Speaker 1: is for myself it is to get your child to
Speaker 1: sit down and listen and lone do their homework. And
Speaker 1: I have to say sometimes I look at the homework
Speaker 1: and like, I don't understand what you have to do here,
Speaker 1: which is really embarrassing to say that. But anyway, there
Speaker 1: are so many side hustles out there that you can do,
Speaker 1: like open up your mind, like it really is quite
Speaker 1: incredible the opportunities there are out there. And then, of course,
Speaker 1: as I said, educate yourself as you start to think
Speaker 1: about the next financial goals you want to achieve, you know,
Speaker 1: beyond paying off this debt, the savings that you want
Speaker 1: in your life, the investment goals, even maybe the passive
Speaker 1: income goals. You want to start working in your life,
Speaker 1: or you know, the goal and dream of owning your
Speaker 1: own home one day. You want to start saving up
Speaker 1: that deposit, which is really exciting. You want to start
Speaker 1: thinking about retirement. Educate yourself obviously, make sure you're really
Speaker 1: careful as to where you're getting your education from. Be
Speaker 1: very careful of the thin influencers all over social media, becau.
Speaker 1: There's a lot of them with really dangerous bad advice,
Speaker 1: and there's a separate podcast about that's about this anyway,
Speaker 1: but it is importantly you educate so so you understand,
Speaker 1: all right, the moment'm debt free, this is what I
Speaker 1: need to do, and this is the best way of
Speaker 1: doing it. And talk to people. As I said, share
Speaker 1: your goals, share what you're doing, because you are going
Speaker 1: to inspire other people and you're part of a very
Speaker 1: powerful ripple effect where we're all debt free, we all
Speaker 1: have emergency savings, we all use our credit cards or
Speaker 1: even I have no problem with buying now, pay later.
Speaker 1: When it's used responsibly, you know, to to run our
Speaker 1: lives efficiently so that we're not bogged down and stressed
Speaker 1: about money. In fact, if the polar opposite, we embrace money.
Speaker 1: We embrace and respect the freedom and luxury and choice
Speaker 1: that it brings in our lives. You know, we treat
Speaker 1: money in the right type of way. We know how
Speaker 1: to keep it, we know how to grow it, We
Speaker 1: know how to use it responsibly. We know how to
Speaker 1: use it also in a powerful way, so when we
Speaker 1: do use money, we're using it for the benefit of
Speaker 1: the community, are well being, and even the planet, particularly
Speaker 1: when you think about the environment and charities. So please
Speaker 1: note this is you don't have to be in debt.
Speaker 1: You can do something about it, but make a decision
Speaker 1: to do something about it today. Put action in place
Speaker 1: starting today. Write down all those toxic feelings that you're
Speaker 1: experiencing from being in debt. Write down what it would
Speaker 1: feel like and all the emotions you'd experienced if you
Speaker 1: didn't have that debt in your life. Next is you
Speaker 1: write the list of who you owe money to and
Speaker 1: exactly how much for starting with the smallest debt, all
Speaker 1: the way to the biggest. Make sure you have a
Speaker 1: minimum payment plan in place for each of those debtors,
Speaker 1: and work on your hit lists. Look at ways you
Speaker 1: can save extra money and earn extra money, and the
Speaker 1: moment that money comes into your life, transfer it as
Speaker 1: a lump sum ad hoc repayment towards the person at
Speaker 1: the top of your list. Regularly update your list and
Speaker 1: don't stop. Keep going, and if you need to have
Speaker 1: mini breaks along the way, just make sure that they're
Speaker 1: effective breaks. They recharge your batteries, reinspire you and reinvigorate
Speaker 1: you to get back on your debt free journey, and
Speaker 1: keep going. Don't stop until you are completely debt free,
Speaker 1: and the moment you're debt free, set up a separate
Speaker 1: emergency savings account so that you never ever get into
Speaker 1: debt again. Make sure that you have the correct amount
Speaker 1: of emergency money in place. And for people who thinking,
Speaker 1: hang on, can I how much emergency money do I need?
Speaker 1: We'll grab a copy of Mindful Money, because I just
Speaker 1: share with you exactly how to work out the right
Speaker 1: amount of emergency money for you and build that up
Speaker 1: and think about the next funcial goals beyond that. Your
Speaker 1: fincial situation is always evolving and growing. There are always
Speaker 1: opportunities around you, and you always have a choice, So
Speaker 1: embrace being debt free. I promise you will never regret
Speaker 1: it and you will feel so much better about yourself.
Speaker 1: All right, everyone, thank you so much for listening to
Speaker 1: Sugar Mama's fire Play podcast. If you have a spare moment,
Speaker 1: I would greatly appreciate it if you could leave a
Speaker 1: rating and a review, and of course, please feel free
Speaker 1: to send this podcast to anyone you know that needs
Speaker 1: to hear it, who is living a life in debt
Speaker 1: and wants to do something about it and knows enough
Speaker 1: is enough. All right, everyone, have a fantastic weak ahead,
Speaker 1: and don't forget to make sure you're following me on
Speaker 1: Instagram at Trigamma tv and of course at Canna Campbell
Speaker 1: Official if you'd like to see what I'm up to
Speaker 1: in my normal, everyday life juggling children and pregnancy and
Speaker 1: Giuseppe and my crazy nutcase hoard a partner Tom and
Speaker 1: of course the capsual Wardrobe Fashion, where I try and
Speaker 1: share with you as many pre loved outfits as possible,
Speaker 1: as well as we're in beauty hacks. All right, everyone
Speaker 1: enjoy the weak Ahead, lovely speaking and connecting with you.
Speaker 1: See you next Monday. For more podcasts, Choo for now,