069- Single Mom Takiia's Amazing Story: How She Went From $100,000 in Debt to $500,000 in Savings
Journey To Launch
Jamila Souffrant
5 • 1.7K Ratings
🗓️ 31 October 2018
⏱️ 58 minutes
🧾️ Download transcript
Summary
Getting rid of six-figure debt is no easy feat but Takiia Anderson, the voice behind The Frugal Biddy, is proof that it can be done. After graduating from law school, Takiia had accrued more than $150,000 of debt. As the single mother of a 2-year-old little girl making only $34,000 a year, she knew that something had to change.
Takiia went on to save over $500,000 and pay for her daughter’s college education at the prestigious Spelman College. She shares all of her tips, tricks, and personal finance advice on her blog, The Frugal Bitty.
In this episode we discuss:
- The overall steps Takiia took to go from debt to having a large savings today
- The things that she gave up to pay off her student loan debt
- Her decision to save for her daughter's college costs while still being in debt
- Takiia’s plan for investing when she first opened her daughter's college saving account
- Why she stopped investing in retirement to save for her daughter's college education
- The money lessons that she taught her daughter
- Passing on generational wealth and not generational debt
Other related blog posts/links mentioned in this episode:
Single Mom Masterminds 700,000 Swing From Debt to Savings
Frugal Biddy- Pass on Generational Wealth Not Generational Debt
Fugal Biddy- Mental Health Savings Plan
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Transcript
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| 0:00.0 | You're listening to episode 69 of the Journey to Launch Podcast. |
| 0:06.0 | Single Mom Amazing Story from $100,000 in debt to having over $500,000 in savings. |
| 0:14.0 | T-minous 10 seconds. |
| 0:16.0 | Welcome to the Journey to Launch Podcast |
| 0:19.0 | with your host, Janila Sufrant, |
| 0:21.0 | as a money expert who walks her talk. |
| 0:23.7 | She helps brave journeys like you, |
| 0:26.0 | get out of debt, save, invest, and build real well. |
| 0:30.9 | Join her on the journey to launch to Financial Freedom in 5 4 3 2 1. |
| 0:44.8 | Hey, hey, hey, journeyers. Welcome back to another episode of the podcast. |
| 0:47.5 | So happy to have you here. |
| 0:49.7 | And this episode, as always, I'm excited to share with you and it's kind of special because |
| 0:55.6 | this guest was actually found by my mom. So my mom is like my biggest supporter in life and everything she listens to every episode of the |
| 1:05.7 | podcast and when she really really likes an episode she will tell me and she came |
| 1:11.0 | across this article and this is what I guess the title of the article was this |
| 1:15.0 | Single Mom mastermind 700,000 swing from debt to savings. |
| 1:20.0 | So she sent me this article and said, have you heard of this? |
| 1:23.0 | And I usually do here, you know, with these like big numbers and these articles that are about saving tons of money typically, like I usually see them around. |
| 1:32.0 | But when I want to go look at the article I've never seen that article before I've never heard this person's story so I was really intrigued because if you don't already I love getting guests that are not on every podcast. |
| 1:43.9 | Now there's definitely a benefit to having a season guest |
| 1:47.0 | who has been around or who knows the podcast circuit |
| 1:51.1 | and can do really great interviews. |
... |
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