THe change that
created the passion for financial coaching
“I’ve been there. I want everyone to see the benefits of becoming debt-free and SECURE With financial WELLNESS.
Up until the last few years, money was always a topic of contention or stress. Some of the earliest memories I have of my middle-class parents together were of them arguing over finances. The issue was always about “who spent money where and why”. Their inevitable divorce just heightened that financial tension. My parents certainly didn’t teach me good money management, (and neither did the school system). But what I did learn from them at a young age is that money could bring tears, fear, and break a family apart.
During and after my parents split, my mom really struggled to support the myself and my two younger brothers. Her lack of financial wellness and skills added to the stress and trickled down to us. Even today I clearly remember times of disappointment and stress because she couldn’t afford to buy things like my first homecoming dress.
HOW DID WE GET HERE?
At the age of sixteen I opened my first bank account. Ironically I was also encouraged to obtain a credit card to “work on that credit score”. I had always been great at math, but was still without any proper money skills. Any money I made quickly went right back out for movies with friends or new clothes. That continued all through college too.
Between graduating college in 2006, and buying my own first car the same year I quickly collected debt, and was not working too hard at paying it off. In 2011, I bought my first house, and the next 4 years brought an engagement, a wedding, and our first child. My spouse and I had great jobs and paid off our credit cards monthly, but had 2 car loans and no real savings.
While on paper we seemed financially secure, our debt really grew when in 2017. My husband and I had two little girls, two car payments, and decided to relocate for a better school system, a yard, and a larger house. We got a great deal on buying a foreclosed single-family home in a cul-de-sac in a great neighborhood, but we still had to take out a 401K loan to cover the down payment. After spending tons eating out during an 8-month-long kitchen renovation, and putting all types of things from door knobs to new flooring on credit cards, the end of 2017 had us at $112,000 in debt. We just couldn’t understand it. How could two smart adults with great careers be this much in debt?
THE MOMENT OF CHANGE
Within the first few days of the New Year of 2018, I found out I was pregnant with our third child. While greatly welcome, it also meant that the plan of me quitting my full-time, benefit-covered job to become a SAHM was now realistically on the horizon. Could we really afford that?
It was at that moment I decided I was sick and tired of being sick and tired. I strongly convinced my husband we needed to make a change, and we became motivated to pay off all the debt we had accumulated. We hit the ground running. Sure, we had a few bumps along the way, but by summer 2020, during the height of COVID, we became debt free. Besides our mortgage, we were able to pay off all 112k in two and half years.
Lauren is a Marylander, born and raised. She still currently lives in Maryland with her family and dog. When she’s not working, she’s taking kids to activities, cooking tasty dishes, hiking, or socializing with friends.
MY CALLING
Throughout my family’s own financial wellness and debt-free journey, I was extremely excited and motivated. Not only with the prospect of what we could do with our substantial income once we were debt-free, but because we could see the progress working! It was changing our life. We openly communicated about our spending, felt in control of our money, and still had fun and lived life.
I wanted anyone and everyone who would listen to me to see the benefits of becoming debt-free and financially secure. It was so amazing for us that I wanted to share with them the same happiness and overwhelming relief we had gifted ourselves. We had finally found a better way! At the time I didn’t even know Financial Coaching or that hiring a money coach existed. I taught myself everything. Now I want to share all that knowledge and time I spent learning financial wellness with you.
