This is the second of a 3 Part Series tackling some essential money management questions: Savings, Debt Payoff, and Retirement Investing for the Self-Employed Creative.
Today we’re continuing with How to Tackle Debt as a Self-Employed Creative.
“it’s an act of resistance and revolution to choose to do things differently with your money and to live without debt”Eowyn Levene, Creatives Do Money Podcast, Episode 12
This week on the Creatives Do Money Podcast, Episode #12
Welcome to Creatives Do Money! Each week we explore the topics of everyday money management, solo business ownership, and how we are fueling our creative futures. I’m your host, Eowyn Levene, money mentor, massage therapist, and watermelon enthusiast. And I’m on a mission to help you build the lasting financial stability that frees you up to do your work without hustling anxiously for the next dollar.
In this episode
Manage Your Mindset for your Debt Payoff Journey (03:42)
Let go of judgement and shame around debtDiscover your why for paying off debt, and commit to it!
Gather your Numbers (00:00)
Figure out your minimum monthly expensesCalculate your average monthly incomeList all your debts out
“{when you learn to live debt free} you no longer enmesh your future self, you leave yourself more free. And you offer yourself more choice, and more rest” Eowyn Levene, Creatives Do Money Podcast, Episode 12
Make your plan to pay off your debt (06:37)
Ask yourself the right money questions before creating your planUse the Avalanche or Snowball Debt Payoff Method?Get yourself whatever help your need to support you in paying off debt
Carry out your debt payment plans (15:00)
Use a budget for success, and specifically a kind of money planning that’s tailored to the variable inconsistent income of the self-employed creativeThe essentials of a budget that works when you’re a solopreneur
How to Maintain Motivation over your Debt Payoff Journey (17:33)
Reference the strategies I outlined in the Savings 101 for the Self-Emplyed Creative podcast episodeCommit and recommitKnow your triggersImpulse control and deprivation defense to keep our spending on an even keelCreate a financial freedom community for yourself and join ours <3
Resources
7 Step Checklist to Prepare you for your Successful Debt Payoff Journey
Related content
Other resources
Three Simple Steps to Improve Your Finances When Your Money is a Mess
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