Kumiko Love: How The Budget Mom Became Debt Free in 7 Steps
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- čas přidán 21. 07. 2024
- Imagine you have $77,000 worth of debt. Sounds a little daunting, right? Depending on your income, that may take years and years to pay off.
Kumiko Love, also known as The Budget Mom, paid off that amount of debt in just 8 months using her own budgeting solution, finding ways to increase her income as a single mom and controlling her expenses by sticking to a budget.
Listen to her share the 7 steps she took to rid herself of debt forever.
CHAPTERS
0:00 - Introduction to The Budget Mom (Kumiko Love)
0:44 - How she accumulated $77k of debt
2:58 - The importance of writing your numbers down
5:07 - Kumiko's big dreams that kept her motivated
6:10 - How she made more money
8:16 - How Kumiko saved more money
12:25 - How she celebrated being debt-free
#TheBudgetMom #PersonalFinance #Budgeting
ABOUT KUMIKO LOVE
Kumiko Love, aka The Budget Mom, is on a mission to empower women to build a life they love on a budget they understand and can afford. After becoming a single mom, Kumiko struggled to manage her finances which really bothered her since her professional career was in finance.
Kumiko tried all the budget plans and systems she found available but all of them failed in one way or another. Kumiko was determined to gain control of her finances so she created her own solution which helped her pay off $77K in debt in 8 months.
RESOURCES
The Budget Mom: TheBudgetMom.com
CZcams Channel: / @thebudgetmom
Instagram: www.instragram.com/thebudgetmom
MARRIAGE, KIDS AND MONEY:
This award-winning blog, podcast and CZcams channel are dedicated to helping young families build wealth and thrive. Each week, Andy Hill interviews personal finance experts, families who've achieved financial independence and debt-free young parents.
Blog: www.marriagekidsandmoney.com
Podcast: www.marriagekidsandmoney.com/...
Facebook Group: www.marriagekidsandmoney.com/...
Subscribe to my CZcams channel today to strengthen your family tree and live financially free!
DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Information shared on this channel is for entertainment purposes only and should not be considered as professional advice.
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Are you working on paying off your debt like The Budget Mom?
Great interview! I found TheBudgetMom in 2017 and we made the hard decision to sell our dream home to end the financial drowning. Watching Miko's progress has helped me to see that her system totally works! Our highest debt total was over $223k. We are now down to $50k. 💙💜💙
That is incredible progress!! I really enjoyed talking with Kumiko and learning from her.
Kudos to you for making the hard decisions that will make your life easier to live.
I'm widowed with 2 children. It has been much more difficult than someone going through a divorce. I worked hard, because debt free, raised my children on my own, sold our home, paid cash for a brand new build home, have 2 paid for cars, and plenty of $$$ in savings and in retirement. Best advice is pay your bills, down size if you need to ( I actually upsized) only spend on needs until you are completely debt free, and make sure you save as much as possible, . If that means giving up bad habits ( i.e. smoking, alcohol, designer whatever, or any other nonsense spending) and/or getting a second job then that's what it takes.Marriage and divorce are choices , the death of a spouse isn't.
What a great testimonial momof2 -- It sounds like your hard worked paid off and prepared you for a tough moment in your life. Thank you for sharing with us.
@@MarriageKidsandMoney You're welcome 🥰🍃🍂🍁🍎💗✝️
I just graduated with my masters in nursing with 90k of student loan debt. LOL. I'm sooo glad I discovered TBM and Dave Ramsey. I take a little from both philosophies and plan on paying off my debt in the next 3 years by living at home and pinching pennies.
Such great resources to be inspired by! I’ve learned a lot from both of them.
Good luck crushing that $90k of debt!
I LOVE the point about writing numbers down. It's amazing how powerful of a force it is when you are forced to put your pen to the paper, and hold yourself accountable. Really great channel here, I'm glad I found you! Hoping to see much more down the road, keep it up! 😊
Thank you! Yes, Kumiko is spot on. There’s something magical about writing down your numbers and goals. No app can take the place of that.
Great interview.
See you soon. God Bless.
I spend $270 - $300 per month on groceries for two adults. I shop only organic foods at Costco and Whole Foods. It can be done. I have had Celiacs
That’s incredible! We’re well over $900 lately with inflation (family of 4)