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Episode Title: Navigating Financial Freedom with Carly Hill, aka Debt Free Mom
Host: Val Lavigne
Guest: Carly Hill
Summary: In the latest episode of The Dairy Hour Podcast, Val Lavigne sits down with Carly Hill, popularly known as Debt Free Mom on Instagram. Val, who has been an avid follower of Carly for over four years, is excited to delve into Carly’s expertise in helping moms manage their finances better.
About Carly Hill:
- Carly lives in rural Illinois and is a mother of four.
- She transitioned from being a special education teacher to a stay-at-home mom.
- Faced with $26,000 in debt and minimal savings, Carly embarked on a journey to financial freedom, taking on part-time jobs and focusing on debt repayment and emergency fund building.
- Carly's mission is to give moms the financial freedom to stay home if they choose, without being financially constrained.
Key Discussion Points:
Budgeting by Pay Periods:
- Carly explains how budgeting by pay periods instead of monthly helped her manage finances accurately and avoid overdrafts.
Contentment and Mindset:
- The importance of maintaining a positive mindset, managing social media influences, and finding contentment in one's financial journey.
Emergency Funds and Savings:
- Val and Carly discuss the significance of having both emergency funds and savings, and how to handle unexpected expenses without derailing financial plans.
Tips for Budgeting with Variable Farm Income:
- Savings Buffer: Treat savings as an insurance plan for low-income periods.
- Reverse Engineer Budget: Create a budget focusing on expenses before factoring in income.
- Plan B: Be prepared to adjust the budget if income falls short by identifying non-essential expenses to cut.
- Emergency Fund: Maintain a robust emergency fund to manage fluctuations calmly.
- Payroll Reserve Account: Use a separate savings account to supplement low paychecks, making it easier to use these funds without guilt.
Advice for Rural Moms:
- Embrace Local Free Resources: Utilize local parks, libraries, and community programs.
- Value Simple Activities: Enjoy simple, unscheduled play activities like nature exploration.
- Appreciate Rural Living: Embrace the benefits of rural life for a rich upbringing for children.
Rapid Fire Personal Insights:
- Comfort Food: Chips and queso.
- Favorite Ice Cream Flavor: Anything with peanut butter.
- Dream Location to Live: Potentially the English countryside near London.
- Favorite Holiday Tradition: Driving through holiday lights displays in Christmas pajamas.
- Favorite Place Visited: San Diego, CA, and New York City during Christmas time.
Additional Thoughts:
- Dream Alternate Career: Behavioral psychology, focusing on human behavior.
- Inspirational Quote: "I choose to believe that the good story and the hard story can be the same story." - Katherine Wolf.
Where to Find Carly:
- Follow Carly Hill on Instagram: Debt Free Mom , check out The Debt Free Mom Podcast, or go to her website Debtfreemom.co
Tune in to hear Carly Hill’s practical advice and inspiring journey to financial freedom on this episode of The Dairy Hour Podcast!
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