She Strengthens

Breaking Free from the Cycle of Scarcity

For years, I thought a higher salary was the key to financial stability. But despite steady raises, I found myself stuck in a cycle of debt and scarcity. At 30, I had barely a month’s worth of savings, $8,000 in credit card debt, and no investments to speak of. It wasn’t until I faced the harsh reality of my financial situation that I realized the problem wasn’t my income, but my mindset.

The Scarcity Mindset

I had fallen victim to the scarcity mindset, constantly feeling like I didn’t have enough money, and spending more out of fear of it running out. This mentality was eating away at my happiness, and it was time for a change.

Taking Control

My journey towards financial freedom began with a simple mindset shift: I told myself that I did have enough money, I just needed to manage it better. This newfound awareness gave me the courage to confront my financial situation head-on.

Facing the Music

I downloaded the Mint app to get a clear picture of my spending habits, and what I saw was eye-opening. I identified three toxic habits that were draining my bank account:

Toxic Habit 1: Eating Out

As a frequent traveler, I had grown accustomed to having my meals paid for. But when I returned home, I continued to eat out, racking up a weekly tab of $150. By switching to basic groceries and simple recipes, I was able to cut my expenses down to $25, saving $125 per week.

Toxic Habit 2: Luxury Self-Care

After traveling, I would often treat myself to spa days, massages, and manicures, spending over $200 per weekend. By being more disciplined with my health and beauty routine during trips, and opting for affordable alternatives like sheet masks and travel-sized products, I was able to reduce my costs to $30, saving $170+ per week.

Toxic Habit 3: Procrastinating Debt Repayment

I used to wait until my next paycheck to tackle my credit card debt, but this approach only led to further procrastination. By making debt repayment my top priority, paying off a portion of my credit card bill immediately, and using my debit card instead of credit, I was able to reduce my debt by $5,500 in just six months.

A Work in Progress

While I’ve made significant progress, I’m not perfect, and I still have moments of weakness. The key is to stay vigilant, continue to explore new ways to manage my finances, and avoid falling back into old habits. It’s a process that requires constant effort, but the payoff is worth it – financial freedom, and a life lived intentionally.