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Hey there, lovely listeners! ? We've got an inspiring case study to share with you today about budgeting after divorce and the challenges of managing finances on a single income. Even if you haven't experienced divorce, this episode has valuable insights for anyone looking to improve their financial game.. Let's dive in! ?
? Our amazing client embarked on a seven-month coaching journey with us during her divorce. She was a single mom with three kids, juggling various debts, and living on a single income. Her story is a testament to what's possible when you take control of your finances.
? What did she accomplish? Let's break it down:

Income: $3,600 per month (on the conservative side)
Debt Paid Off: A whopping $17,000, including clearing all collections!
Minimum Monthly Payments: Reduced from $3,245 to $1,367 (Just the mortgage!)
Savings: Skyrocketed from $1,000 to $24,000 ?

?‍?‍?‍? She also involved her kids in the financial journey, teaching them about budgeting and the importance of saying "no" when necessary. It's a valuable life lesson that will serve them well.
? Organization and strategy were key. She took action, called collection agencies to negotiate early payoff amounts, checked her credit report monthly, and even used her tax return to tackle credit card debt. Remember, it's all about smart money moves!
? Dealing with multiple cars and accounts tied to her ex-husband was a bit complicated, but she faced it head-on. She had to change the names on accounts and even sell a car to make her financial life more manageable.
? Closing the chapter with her ex was challenging but essential. It allowed her to gain closure and move forward, unburdened by financial ties to the past.

? The bottom line? Budgeting after divorce and managing a single income can be tough, but with the right plan and support, you can conquer it. Our client's journey is proof that financial freedom is within your reach.
Next Steps > > >
? As financial coaches, we love to see our clients thrive. We provide guidance, structure, and actionable steps to help you transform your financial situation. If you're ready to make a change, check out our coaching services. We'll be your financial cheerleaders, guiding you every step of the way! Learn more here.
Email us any questions: info@myidealbalance.com
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