Jade accumulated significant credit card debt over 20 years of her career as a licensed massage therapist. Initially, she was paying off old balances with new debt. This situation became particularly challenging during COVID, which impacted her self-employed income. The overwhelming nature of her debt, with statements showing it would take decades to repay, led her to accept it as an unavoidable and unsustainable reality.
Jade was skeptic about debt management plans. Despite this, she conducted her own due diligence and found Money Management International (MMI) to be a trustworthy nonprofit organization with good ratings, which led her to enroll in their debt management plan.
Jade's experience working with MMI has been transformative, leading her to not only to pay off $20,000 in debt in under five years but also:
Expand her career
Opened a second business
Increase her savings
For Jade, being debt-free means having limitless opportunities and possessing the tools and systems to prevent returning to debt. She encourages others not to be embarrassed by their debt and to trust themselves, emphasizing that taking control of finances leads to a better life. Tara commends her journey, noting that Jade has gained control of her finances, boosted savings, and made significant lifestyle changes.
Key takeaways:
Seek professional help for debt management when overwhelmed
Embrace transparency about debt to overcome stigma and seek support
Develop a strong budgeting habit to manage finances effectively
Embrace transparency about debt to overcome stigma, seek support, and break the Poverty Mindset
Debt management can lead to greater financial freedom and new opportunities
