We’ve asked several people to share their financial horror stories with us with the idea that we can learn from their mistakes. Today we have the opportunity to get to know Omotola, the lead consultant at the Funding Magnet where she works with non-profits to find the perfect funding fit and help them create impact. Omotola herself is on a debt-free journey and hopes to be completely debt-free by December 31, 2020. 

What’s the biggest money mistake you’ve ever made and how did it impact your life? 

I bought a vacation timeshare thinking it was a prudent investment. Instead, it’s ended up having hidden costs and most of the resorts advertised are always unavailable every time we want to book them.

If you could go back in time, what would you do differently?

I would not go into debt in order to build a vacation culture for my family. I would choose to save up for the vacation and plan for it yearly.

Did anything good come out of the...

We’ve asked several people to share their financial horror stories with us with the idea that we can learn from their mistakes. Today we have the opportunity to get to know Andrea, the writer, blogger, and owner of Saving Joyfully. Andrea works diligently to share valuable tips and insights on how to save money and achieve financial freedom while living a more joyful life.

What’s the biggest money mistake you’ve ever made and how did it impact your life?

Debt acquired on credit cards while in college to help me be able to afford tuition and books when I was unable to get student loans. Once I was able to qualify and receive student loans I accumulated additional debt that way as well.

If you could go back in time, what would you do differently?          

I look back on these decisions now and wish that I had made them differently. If I could go back in time I would not use credit cards to fund my tuition and books, when I simply could...

Feeling overwhelmed by the sight of your mail? Does your mounting debt seem like an insurmountable hurdle? Remember, it doesn't have to stay this way! Let's embark on the journey toward financial freedom with these six easy-to-follow steps to start paying off debt.

Step 1: Honestly Evaluate Your Debt

When bills flood in at various times during the month, it's easy to lose sight of your total debt. Gather all your bills, lay them out, and take an honest look at the big picture. It might be a tough pill to swallow, but acknowledging your debt situation is the first of the steps to start paying off debt.

Step 2: Negotiate Lower Interest Rates

Your loyalty to your credit card companies can be leveraged. Reach out to them, express your loyalty, and discuss the possibility of a lower interest rate. This approach can also work wonders with internet and cable companies!

Step 3: Review Your Credit Score

Mistakes in credit reports are not uncommon. Ensure your debts, credit limits, and missed...