This week’s Money Master is Debbi King. We had the pleasure of appearing on @Experian_US’ #CreditChat and Google+ Hangout with Debbi a few weeks back. We were truly inspired by Debbi, what she had to say and her story. For those reasons, we immediately asked her to be one of our Money Masters and Debbi graciously obliged.
The quote on Debbi’s homepage is poignant. “Normal means being in debt and broke. Unique is being financially free. Choose unique.” We love that quote. Having been buried and debt ourselves, we agree with Debbi that it’s a much better life being unique and financially free.
Debbie is the author of The ABC’s of Personal Finance and the accompanying workbook. We haven’t had a chance to read it because we just found out about it, but you can bet it’s on our reading list.
Lastly, click here to be a Money Master. We’re always seeking new personal finance bloggers or industry experts to help our followers be debt free, have fun and be money conscious.
Learn more about Debbi below.
1. What’s your story?
My story is similar to many others. I graduated from Seneca High School in 1987 and from the University of South Carolina in 1990 with a degree in Accounting and Business Education. At the same time that I started my first “real” job, I started my debt. I tried to have in the first year of my adult life everything that my parents had worked 20-30 years for – a new house, a new car, nice clothes, new furniture, eating out several times a week, vacations, etc. The only way I could do this was through debt. Fast forward 10 years, I found myself a single mom, making $10,000 a year and $200,000 in debt. One day after receiving 10 collection calls, 5 past due notices and 3 certified letters from the IRS, I decided I had finally had enough. From that day on, I began to relearn how to handle my money – the right way. I talked to my grandma and my parents, I looked up everything the Bible had to say about money (and it says a lot) and I researched people who had been there and succeeded in turning it all around. This is what led me a few years later from being a single mom, $200,000 in debt and making $10,000 a year to a happily married lady owning a successful business and knowing what financial freedom feels like. I do what I do today for two reasons: I know what it feels like to be where my clients are and I do not want one single person to ever go through what I went through.
2. What’s your point of view as a personal finance blogger?
As a personal finance blogger, my main goal is to share what I know for sure when it comes to money. I had to learn everything the hard way; I try to make it easy for everyone else.
3. In one sentence, what’s one piece of sage advice from your personal finance background that you’d like to share with our readers?
My one piece of advice is pay yourself first and let your money make money for you. If you invest $100 a month from age 25-65 in a growth stock mutual fund, you will have $1.7 million dollars based on the last 20 year average. I wish someone had shared that gem with me.
Check out Debbi’s site and her book. Debbi has great insight and we know you’ll be glad you did.