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Anglinia's Journey

With hefty student loan and credit card debt to tackle, Anglinia began her Project Money experience with determination and a desire to improve her financial situation. A self described “money worrier,” Anglinia started thinking more carefully about purchases, spending less on food and getting her emotional spending in check.

Coach Carrie worked with Anglinia to put a dent into her debt and increase her savings by tracking her spending and establishing a realistic budget.

“A budget is very important and for me, it gives me the permission and freedom to spend wisely — and to some extent freely — without the guilt and urge to spend erratically.”

The result? Anglinia paid off not one, but three credit cards, increased her overall savings by 55% and established automated savings accounts to ensure continued progress toward her financial success.

With a budget in place and less money stress, Anglinia can focus on her life dreams of moving back home and pursuing a career in engineering.  

“I definitely don’t think I could have made such good progress in such a short time without Carrie’s advice and encouragement. I am not debt free but I am in a much better position than when I started. I am really looking forward to what’s next.”

Q&A with Anglinia:

What’s the best advice you’d give to someone who’s in a similar financial situation to where you were seven months ago?

I know it’s hard and it is something that you don’t want to do but keep track of your spending for at least a month. Not only do you get a chance to see exactly where your money goes but you can better budget for the next month. Also save something!!!! Even if it is a dollar a day it definitely adds up. It’s a good idea to have a rainy day fund as well as a long term and short-term savings.

How has this experience impacted you/your family?

In the beginning it was hard for me to tell my family “no” when things started getting tough for them, but I cannot loan them money if I don’t have it. Then we would be in the same sinking ship together.

What was your “aha” moment?

I was in the mall and realized that there was a direct correlation to my emotional state and my spending choices. Being able to step back and calmly think about something is much better than the compulsion to buy things when you first see them.

How has taking control of your finances changed your life?

It has definitely changed my life in more ways than one. I am not as worried about paying the middle and last of the month bills as I once was. I have more time to do other things. I have lost some weight due to the lack of eating out as much.

What’s next?

I want to pay off one more credit card then consolidate the remainder of my credit card debt with Summit Credit Union. I have less than a year of car payments left.

Where do you see yourself in five years?

I plan to be buying a house.

What one word would you use to describe how you feel about your financial situation as a result of your Project Money journey?

Awesome!  Before Project Money I was all over the place. I was paying a little above the minimums on all of my bills but I was not seeing any results. By focusing that money I can really tackle that debt one card at a time. I understand how to make a more realistic budget and I know how to take the time to shop around for better rates.

What was the best advice your coach gave you?

It’s ok to spend money on yourself...you must be mindful of how and how much you are spending, set limits and plan for the things you can.

How did your coach help you stay on track?

When I first met Carrie, I was a little scared that she would scold me for being so irresponsible and making really stupid choices. But she was quite understanding and very non-judgmental, which was exactly what I needed to get started. In the beginning I used a form to keep track of my spending on a weekly basis. This was a huge “in my face” reminder of what not to do. Also, Carrie and I had monthly meetings and call-in's to keep me on track. Carrie’s advice definitely stuck with me. Sometimes I’d be in the mall or someplace I shouldn’t have been and I would find myself thinking – What would Carrie say about this?

Read Anglinia's blog to learn about her progress

Comments

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Congratulations Anglinia
You are going a wonderful job.
See you at Mt.Z

Hi Anglinia,
See my congratulation comments on your last Dec. blog entry 'One day at a time'

Val Smith (Rachel Reinhart's mom)

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