If there is one message Deanna Broaddus, who authors the blog Recovering Women Wealth, would like you to hear today, it is this….
IT IS NEVER TOO LATE!
And Deanna speaks from experience.
HER ADDICTION
Today Deanna shares her journey through addiction from a young girl experimenting with alcohol and how that evolved into drinking and drugging well into her 30’s.
As a high functioning addict – it was not until the secret she had been hiding came to the forefront, that she eventually made the decision to seek help and, once and for all, fully address the root of her struggle with alcohol and drugs.
THE TRANSITION
After recovery, Deanna’s next battle was to tackle was her debt. She was not sure what to do and found herself very overwhelmed. She drew upon her experience from recovery and began attacking her debt very strategically.
In 3.5 years she was able to pay off $47,000.00. She did this by doing something a lot of people in their forties would not do….she moved back in with her parents.
It was a humbling experience – but it also allowed her to attack her debt fiercely. She was putting 90% of her income towards debt, and because of this BIG MOVE – she reached her goal of debt freedom 2017.
DEANNA’S KEY COMPONENTS TO DEBT FREEDOM
- Budget – Zero-based Budget
- Accountability
- Method for paying off debt (Snowball/vs. Avalanche or a Combo of the two)
- Intensity
THE IMPORTANCE OF COMMUNITY
Deanna also credits her sobriety and her debt-freedom journey to Community. She suggests that anyone new to Financial Independence seek out community.
Seek people and/or groups out.
- Facebook.
- Local Meet-ups.
- Podcasts.
- Blogs.
- Books.
- FIRE community!
Why Community? It’s important to surround yourself with like-minded people. They provide you with encouragement as well as get advice and tips.
DEANNA’S COMPONENTS TO SUCCESS
Community
Accountability
Having a Plan
DEANNA ON THE FINAL QUESTIONS
One money lesson (good or bad) learn growing up that she has carried over into her FIRE journey:
Money equals freedom. Money is a tool that if used wisely it can help people and give freedom.
Deanna’s Favorite Life Hack:
Time Blocking. Time blocking allows her to tackle tasks and not allow them to over-take her schedule.
WHERE CAN YOU FIND DEANNA?
Her website: https://www.
Facebook: https://www.facebook.com/RecoveringWomenWealth/
Twitter: https://twitter.com/DeannaRWW
Articles Mentioned:
https://www.msfiology.com/2019/02/25/for-all-the-middle-age-women-reinventing-themselves-2/
THE FOUR COMPONENTS TO DEBT FREEDOM
DEANNA’S FAVORITE READS
The Wealthy Gardner, John Seforic
The Profit Dare, Tim Kiser
Simple Path to Wealth, JL Collins
IF YOU WOULD LIKE TO CHECK OUT ANY OF DEANNA’S FAVORITE, CLICK THE BOOK’S IMAGE.
Thanks for the shoutout @Ms. Fiology! We loved hearing our names pop up! Thank you for the generous introduction! It was a pleasant surprise to us!
Thank you for allowing us to be mentioned on your podcast, @HouseofFi. We never imagined we would be connected to you guys in some way. Keep up the great content!
Our pleasure! You guys are doing great. Thank you for listening. 🙂