Faced With Tragedy, Kris and Kylie’s Financial Safety Net Held

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.


What they heard from me resonated with their situation and what they wanted from life. The concepts of Financial Freedom, the Four Money Principles, the Emergency Buffer… all were easy to understand and just made sense. They signed up for Financially Fit Bootcamp and dove in headfirst. Kris and Kylie finally found what they were looking for: a step-by-step approach taking them from where they were financially to where they wanted to be.

They quickly learned a better approach to debt termination. Pay the minimum payments on most of their debts while picking one loan to aggressively terminate. Based on the Debt Termination Process I teach, they’ve completely paid Kris’s student loan while greatly reducing their other debts.

As they worked through the Money Planner, they discovered their “investment” property was actually a money pit. They realized they were taking a significant financial hit every year. They’re planning on selling the property early in 2017.

“Everything comes down to that Money Planner, which pretty much says you have a finite amount of money to deal with,” Kris said. “I suppose the biggest thing is it actually being a conversation piece; we’re more open about choosing where our money is going…instead of wondering where it went.”

Their Financial Safety Net Held

A month after starting Financially Fit Bootcamp, they were already making huge strides toward Financial Security. By November 15, 2015, their bank accounts were restructured, their bill payments were automatic and transfers to their Everyday account were set. They had completed the module on personal insurance and safety nets and were discussing how important a Security Buffer is.

They didn’t know it, but their hard work over the past month would protect them financially for the next few months.

“At 7:45 the following morning,” the couple said, “There was a policeman on our doorstep delivering us news of an unfathomable family tragedy. The very situation we had just been learning about and discussing not even 12 hours earlier was upon us. We had to drop everything and leave the state for a period of time. We were both very supported by our places of employment to work through the situation. Our emotional worlds were down, hearts broken and shattered, yet because we had put our financial house in order, because everything was automated and organized, it continued despite us.”

Kris and Kylie didn’t touch their finances until January 2016. But because the hard work of setting up their account structure and automating transfers was done, their bills were paid, money for daily needs appeared in their Everyday account, and their Security Buffer grew.

On Their Way To Financial Freedom

Today, Kris and Kylie are working on their debt termination. In one year, they’ve paid off $25,000 in debt. And after the sale of their investment property, they’ll be debt free. They’ve also started to set aside money for Surprise! Expenses, so needs like medical care for their three cats, Caesar, Willow and Nieve, won’t throw them back into debt. Since going through Financially Fit Bootcamp–and joining the MindShift.money community–they’ve set out to create their own vegetarian/vegan food label in Australia. Kylie is an expert at combining flavors to create healthful vegan and vegetarian food options, and this startup is a dream come true for her and Kris.

“If we didn’t free ourselves up financially,” Kylie said, “We wouldn’t be here right now and this would take longer for us to set up and achieve (and be much more exhausting). Because we sorted our finances out, we know how much money we need to bring into the house to cover our costs; however we can devote our real time and energy into creating our food label.”

Head over to the Financial Foundations Community Group, and send Kris and Kylie a congratulations on their financial accomplishments!


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There are 2 comments

  • Barry on February 28, 2017 at 3:55 am

    Great testimony there Kris & Kylie. Shows the importance of automation doesnt it.
    well done and the road heads upwards.

    • Kylie on March 2, 2017 at 11:35 pm

      Thanks Barry, the automation was the best thing during that time. We were grateful to our past selves for jumping in pretty quick to set everything up as soon as starting the program too. All the very best to you and your financial journey.

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