On an otherwise normal spring evening in October 2015, Kris Perttula and Kylie Ward were eating out, discussing their financial woes. They’d been together for seven years and had already accumulated nearly $40,000 in credit card debt. Adding in a $310,000 mortgage for Kris’s investment property and $24,000 in student loans, they were on a bad path.
When Life Happens
Their credit card debt wasn’t from living the high life, buying new couches or cars. Out of university, Kylie’s job didn’t pay well, and to make ends meet, they turned to credit. She found a better job, but life still happened. The debt kept piling up, especially after two of their beloved cats fell ill within a three-month span. The veterinarian bills added $10,000 to their debt load.
They’d taken financial courses to learn how to invest and earn more. But in their current financial state, those ventures were too risky. They turned to financial professionals for help only to be told they should come back when they had more money. For all the financial wisdom floating around the world, no one could give them a step-by-step process for climbing out of debt.
On top of that, they had different money management styles and kept much of their finances separate. Because they weren’t working together financially, they experienced a strain on their relationship. Kris, for instance, wanted to throw every extra dollar at their debt. That approach made them both feel guilty about eating out, buying coffee or spending money on small needs or luxuries.
In addition, since they were putting every spare bit of cash toward debt repayment, anytime they did eat out, they ended up paying with credit card, exacerbating the problem.
A Step-By-Step Method To Financial Freedom
That night at the restaurant, Kylie was scrolling through Facebook and saw a post about one of my upcoming seminars. Since they were both available to attend, they signed up.