Lisa Witonis joins Cassandra today on the podcast. They’re talking about all things money, all things crushing your debt and all things birthing a business out of debt crushing. Liza is a full time teacher and a personal wealth coach who helps people create budgets for their family and pay off debt to live a more fulfilling and abundant life. Liza prides herself on being 100% debt free and works to help others achieve this goal. However, it wasn’t always easy for Liza. In this episode you’re going to hear how Liza and her husband were afraid to discuss the “taboo topic” of money and eventually ended up in over 300K of debt. After years of cutting back on their lifestyle and evaluating what was important to them, they managed to create an open dialogue about their finances, pay off their debt and build a family savings plan that worked for their lifestyle. Inspired by what she was able to achieve through sacrifice and a solid plan, Liza has been on a mission to help others heal their financial wounds, ever since.
Key Takeaway: Determine your needs vs. wants. Figure out the non-negotiable things and determine a budget/savings plan that fit your families’ lifestyle and goals.
· Start with a money timeline; assess your history with money.
· Money is one of the top three reasons couples get divorced.
· Overcoming over 300K in debt.
· Get honest with your partner about money and their beliefs around it.
· Determine what is most important to you regarding lifestyle.
· Develop a plan that reflects your hobbies and priorities.
· Recognize things aren’t the way you want then change them.
· Pay off debt smallest to largest.
· Attach celebrations to debts that you pay off.
“Instead of money being the wedge piece between us as a couple, we used it as the walls around us which pushed us closer.”
“Budgets and money plans are fun and exciting but they don’t mean a thing unless the habits and the behaviors behind the money are figured out.”
“You have the power right now to change your family tree.”