Visit www.chainofwealth.com to grow your wealth Karen created Debt Free Lab to share fast, actionable tips that would help real everyday people achieve financial success. She comes from a background of conquering massive financial stress and is now out of debt and financially stable- ready to share her story! Welcome! [2:37] You walked away from a marriage with $50K of debt, a 515 credit score and no money. How did you dig yourself out of that? It was rough Broke up the challenge into more manageable goals [4:30] What advice would you give to your younger self? Start now- too focused on having fun Didn’t think of the long term [5:25] Do you have any advice on getting a divorce? Don’t marry young Get a good lawyer Try to think with your head and not your heart [7:1] What is the struggle like being a single parent while getting out of debt? Super stressful Surround yourself with people to listen to you and encourage you [8:30] What advice do you have for other single moms or dads in the same situation? Let go of guilt Don’t fill the void with material stuff [10:36] What did you learn from that time? To be patient with myself [12:24] When did you start budgeting? About 6(ish) years ago Was desperate and had to start something [13:12] Were you apprehensive- did you find it easier or harder than you expected? Trial and error [13:20] What method do you use to budget your money now? Excel spreadsheet Spending tracker app Try to have leeway in each category Sponsors [15:56] Value Link Round: Want to listen to all these great book recommendations? Check out Audible! www.chainofwealth.com/audible Value Link Round (VLR) [16:44] Why do you think people struggle to reach their dream? They don’t have a plan- a dream without a plan is a wish [17:23] What other books or podcasts do you recommend? Books: Dave Ramsey: Complete guide to money, The life changing magic of tidying up [18:35] Do you have a favorite quote? “I am not a product of my circumstances, I am a product of my decisions” [20:4] Any last advice? Never give up Support this podcast at — https://app.redcircle.com/shows/11f32da4-3081-471f-bf51-ea341b89ab1d/tip