2017 is about two months away! Can you believe it? I am still trying to backtrack and figure out where 2016 went! Let's be real, we have no time for half-stepping, when 2017 gets here we should already have CLEAR intentions for the goals we want to accomplish. Okay, you don't have to have ever millisecond accounted for, but you should have a general idea of what you want to achieve.
Guess what, if this process seems a bit daunting, I am here to help you get it all together! With the help of Boston based girlboss and debt-slaying expert, Candice of Young Yet Wise, we will be learning more about her passion for financial freedom and how she recovered from student loan and credit card debt.
Are you ready to get your finances in order? I know I am! Let's welcome Candice to CJT Online!
When I started Young Yet Wise I had a negative net worth. I used my blog to document my journey of moving my net worth from the negatives into the positives. When I started I had just graduated college with $38,000 worth of student loan debt, about $4,000 in credit card debt, very little savings, no Roth IRA, no money goals or brokerage accounts, but luckily I did sign up for my job's 401k. All I had were wishes, until I made an active decision to change my money habits. I think it's pretty cool that people have decided to join me. Together we are building our future, differently from investing, to saving to now paying off our debt. I want to empower young women to make smart money choices while they’re young so that when they’re older they can benefit from their decisions. I get so many emails from older women saying they wish they had my blog around when they were younger because they made so many stupid money mistakes. If I could get young women to start building better money habits now they can become better versions of themselves in the future.
The majority of my readers are female bloggers and entrepreneurs, what type of advice would could you impart on them as it pertains to their finances?
I want to empower young women to make smart money choices while they’re young so that when they’re older they can benefit from their decisions. I get so many emails from older women saying they wish they had my blog around when they were younger because they made so many stupid money mistakes. If I could get young women to start building better money habits now they can become better versions of themselves in the future.
What would be 5 key pieces of advice that you would give to the women in my tribe that are trying to pursuing BIG, AMAZING goals for 2017?
Get out of the research phase and just start. I hear so many people who aren’t making progress because they’re just stuck in the research phase. The research phase is keeping so many people stuck in the same place. It will never be perfect. This also relates to the point above about getting stuck in the research phase. You will constantly be learning and growing. Your blog will always be a work in progress.
Think of everything as a mini experiment. This allows you to take more risks and not feel like it’s such a huge burden. I’ve trained my brain to think of everything as just an experiment, if it works it works if it doesn’t it still teaches me something. Focus on one thing at a time. So many people look at celebrities who are doing a ton of different things and think well if they can have a TV show, a clothing line, and a restaurant, why can’t I? Well usually these celebrities started off focusing on ONE craft. They put there all into one thing, built it up so that it became successful and then they branched off into other avenues. I know it can be frustrating because you have so many ideas you want to implement, but just focus on growing one first and becoming really good at that one. Even figuring out what you don’t want to do is leading you to the path that you’re supposed to be on, as cliché as it sounds you must trust the process.
The first book I wrote was about how to get started investing in stocks, however many people who had bought the book still weren’t investing because they had so much debt. That’s when I decided to create an 11-week debt challenge where collectively 10 of us paid off $39,500 worth of debt. I took the strategies that were used during my debt challenge and turned it into a book, The Debt Slaying Challenge: Eliminating Debt Fast.
Many people have told me they know they need to get their finances in order, but they're putting it off because there are so many things they want to do right now. It's easy to sweep your debt and money goals under a rug. Eventually you will have to face your finances. Why not do it now while you're young instead of wishing you would've started sooner later on?