How it began
From Debt to Investing at 44: Why It’s Never Too Late to Take Control of Your Money
If you’re reading this and you feel behind financially, you aren’t alone and it’s never too late to start.
My name is Sarah, and I’m a 44-year-old woman who once had no understanding of money and the freedom it can offer you. For years, I carried debt, avoided checking my bank balance, and convinced myself that saving and investing were things for people with the salary to go with it.
But now, I’m debt-free, and saving and investing for my future. My money is slowly starting to work for me and I no longer go from month to month wondering where the money went.
And the reason I’m starting this blog (and offering free financial coaching) is simple. Because if I can turn things around, so can you. This is the beginning of a new chapter — not just for me, but hopefully for you too.
Turning things around
After deciding on a dream of living out in the country before I was too old to enjoy it, I realised that my salary was never going to get me there. I needed income-producing assets. So, I started researching, listening to Podcasts, reading books and learning from people who had done it. Stocks and Shares became a real interest of mine and when I understood that slowly they would start to create more income for me, I decided this was the thing for me.
I still had one problem - I wasn’t reckless, but I was stuck in a cycle many women will recognise:
Paying bills
Using credit to fill the gaps
Buying things I couldn’t afford on finance
Promising myself I’d “sort it out next month”
And repeating the whole thing again
So I made a decision: I was going to take control, even if I didn’t know where to start.
Taking control and facing the numbers:
The first real step was also the hardest:
I looked at everything.
Every debt. Every bill. Every payment. Every subscription. Every “small” spending habit that added up over time. There were things I could cancel that I found I could do without quite easily, there were savings I could make, there were unwanted things I could sell.
Once I actually sat down and looked at it, it began to look less scary - as it always does! I mapped out what I owed and when it was due to be paid off by and went from there. I vowed not to get into more high interest debt so I began to save up for bigger items that I would have otherwise needed credit for.
Step by step…
I found a system I could stick to, and I had it all mapped out. Yes it would all take time, but I could now see I could get there. The progress became quite addictive, I could see my debts decreasing, as debts were paid I then used that money to help with the next debt. And of course, once that was done I suddenly had more money available that I could then use as fuel to power me into the future I had envisioned.
And now my direction is clear
I have worked hard to understand the tools available to me, I have learned about saving and investing and discovered that financial education leaves you feeling stronger and in a better position to plan your future. On my journey though, I did discover that financial education is lacking and information is not easy to come by. The behavioral and psychological aspects of it all are largely ignored also, and they shouldn’t be - these are the most important things to overcome.
You don’t need to be perfect — you just need to start.
And you don’t have to start alone! Welcome to the beginning, I hope these blogs will help you on your way and provide encouragement wherever you are on your journey, and remember we are always here to help.
