Rozeski Collapse of 2010
What I believed to be true:
We are Americans and we can have anything we want. Just tell Capital One how much you need and your wish is granted! HaHa!
I'd taken several courses and read bucket loads of books that helped me manage our financial life. We learned how to balance it on a house of "Cards" literally and philosophically. Everything I'd learned about managing our money included credit; how to improve our score and keep a good score.
Unfortunately, one misstep blew my carefully crafted, credit improving plan sky high more times than I'd like to admit. Then came...
THE INNOCENT GUST OF WIND THAT BECAME A FINANCIAL TORNADO!
- Henry & I had to choose different career paths within 30 days of each other due to the extinction of the printing industry.
- These decisions resulted in a $65,000 pay cut. - By the way, we couldn't pay our bills before, so how were we ever going to make it now?
- We could no longer pay for a home that was mortgaged with an ARM loan and had to let it go into foreclosure.
- I had to withdraw from college and our entire world as we knew it ended in the epic 2010 recession. - Yes, the Rozeski's are a true statistic.
THE GREATEST PART OF HITTING BOTTOM, IS THAT THERE IS ONLY ONE WAY TO GO AND THAT IS UP!
This sounds just like me
Our RISE to Financial Freedom
The rebuilding process had to be quick. We had to be resourceful and band together as a family unit of six.
In the beginning, every day was a test of our will and dedication. By the grace of God, Henry and I were able to walk away from our old life while holding hands.
THE NEXT 120 DAYS HELD MOMENTS AND DECISIONS THAT HAVE SHAPED OUR WORLD FOREVER.
- We signed up for Financial Peace University and followed Dave Ramsey's 7 Baby Steps with intensity.
- We cut coupons, sold everything we could, picked up second jobs, and had our kids manage the household.
HERE IT IS FRIENDS! THE REWARDS FOR ALL OF OUR HARD WORK.
- We became and stayed debt free!- We're so proud of this!
- We have "real" money in our bank accounts and don't have to hide money in SECRET places from ourselves any longer.
- We have an emergency fund instead of an emergency credit card.
- We've paid cash for all of my Financial Coach training, general college education, our vehicles, and have created financial boundaries that fit our lifestyle.
Most rewarding:
- We have three grown children who understand and respect what money can do (positive & negative).
- My marriage is built on open and honest chats sprinkled with laughter.
- I'm a proud entrepreneur who can't wait to go to work each day and teach.
MONEY TRUTHS
Money Chats...
When you talk about MONEY do your conversations end in expletives?
Money Reflection...
Money is a direct reflection of how we spend, live, and perceive our lives.
Money Habits...
When we change our relationship with money, the reflection of our future changes too!
