88 - Ericka Young

Ericka Young wants you to be intentional and have a plan before you spend any money.

This applies to every single situation that involves money, which is pretty much everything.

As Paula Pant says at the beginning of her podcast, you can afford anything, but not everything.

Unfortunately because of loans and credit cards, we think we can afford everything.

This happens to too many people. They make good money, and can pay the bills, but the bank account doesn’t grow and the credit cards stay at the same level.

When you start out in debt, that’s what you know, and it becomes normal.

But living on credit creates this mindless spending, which can easily get out of control. You make decisions without thinking and sometimes those decisions have consequences.

There are so many people like Ericka who could easily break free of the mountain of debt that they are trapped under, if only they would step back and have a closer look at their financial situation and whether their spending habits align with their financial goals.

One day Ericka looked at her low bank balance and her high credit balance and asked herself: What’s going on here?

The process she went through was so motivating that she knew she wanted to help others achieve the same thing.

Ericka launched Tailor Made Budgets in 2005 and has been helping people change their money habits ever since.

Ericka joined me from Indianapolis, Indiana to share her personal finance story.

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89 - J. Money

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