She's The Boss Interview
In our interview, Esther shares her journey to becoming debt-free, the biggest lessons she's learnt in business and her financial tips for COVID 19.
Clever Girl Finance Interview
'How I paid £18000 of debts despite losing 55% of my income'.
In my Debt-Free journey, I candidly share how I navigated between the ups and down and stayed consistent with budgeting. Listen to my interview on Clever Girl Finance Podcast here
My Debt-free Story
How it all started
In 2011, I was working full-time and earning more than the average London wage. But somehow, I never had enough money to save or pay my debts. Then one day, I stumbled across a woman called Suze Orman on The Oprah Winfrey Show. I was instantly hooked. As Suze will tell you, debt is bondage and you alone can solve the problem. You can be your best financial adviser, and you can be in control of your finances. Rich or poor, financial bondage can affect us all. I was making good money, but throwing it away on holidays, gifts and eating ou
Reality Hit Hard
Within 18 months I’d paid off over £20,000 of debt. But as soon as I was debt-free I stopped saving and started spending again, on more holidays, a new car and giving money and gifts to friends. In 3 years I had more debt than I started with. Then unbelievably, I decided to go part-time and study, slashing my salary in half.
The Truth Hurts!
Even with a joint household income, I would be £800 short every month. This forced me to face the painful truth that I seriously needed to change my ways, manage my money and avert disaster. Then in December 2017, a man from my small group at church shared a Youtube video. It was about a woman from the United States who had saved a massive $100k after college. Within two days, I had joined her Clever Girl Finance Accountability Programme. It was a lifesaver.
I came face-to-face with the hard facts; the numbers, the terms, the stupidity, and shame. It was depressing but deeply liberating, and the freedom I experienced outweighed the pain. I immediately started reducing my bills and cancelling subscriptions. I read financial books to transform my mindset. We lived very frugally, shopped in the cheapest supermarkets and had date nights at home. And Clever Girl Finance is a very supportive community. Their encouragement helped me not only to start the process but also to stay committed to it.
So I created this blog to share my experience of transforming my finances. I will share what’s working for me, give you tips on how to stay on track, and hit those goals.
Too many people are ashamed to talk about money problems and it saddens me to think that there are 3.9 million children in the UK living in poverty. Many elderly people must make difficult daily decisions between heat and food, just as many women are forced to stay in violent and abusive relationships because they have no financial literacy to cope on their own.
So you can either take steps to be the boss over your money, or you can let your money be the boss over you. Being the boss will be different for everyone. For you it may be: sticking to your budget, building your emergency fund, getting out of debt, learning to save for things you want, or saving to buy a house. But you get to decide what and put that plan into action!
I am the Boss Of My Money
For me, being the ‘boss’ of my money also reflects my values, the life I want. It’s paying my bills on time, not owing creditors, not giving away my money on high-interest rate cards. It’s knowing precisely what is coming in and what is going out. It’s leading by example, so my children can do better in managing their finances when they grow up, And I believe so much in Clever Girls Financ and see so much value in it, that I committed myself to the journey. And when an opportunity came to work with them, to pass on the word, and help develop their programme and help other women, I grabbed it.
I hope my story will give you the motivation you need to take control of your personal finances so that you can live the life you have always deserved.