In 2017, we did a total financial reset and decided to work towards building the life we have always dreamt of. We were over $300,000 in debt with no house and had two kids we were struggling to feed. Both of us had graduated from school. Jay from pharmacy school and Sylvie from nursing school. We were stressed out, frustrated at the financial mess we had on our hands, and disheartened by the toll it was taking on our marriage.
Where did we go wrong?
As immigrants in pursuit of the American dream, we had worked hard, gone to school, gotten good jobs, yet the American dream was nowhere in sight. What we had instead was a pile of debt; student loans, medical bills, car loans, lots of credit cards and a long list of financial mistakes. What was more, the financial commitments, expectations from our community and the needs of our extended family was getting us deeper in debt. We were barely trying to make ends meet. Struggling to stay afloat, we resorted to shuffling funds from one credit card to another and applying for even higher limits.
And when we thought we were at breaking point; Jay’s income was cut in half while Sylvie was in school amassing more debt through her master’s program.
How were we going to take care of our kids? Put a roof over their heads?
We went into survival mode. We did a total reset. Instead of trying to keep the house from falling by shifting funds from one credit card to another, we decided to start rebuilding from the ground up. This time with a better foundation. We needed a solid plan. Plagued with questions such as; how do we climb out of the financial pit hole we are in? How do we prevent this financial distress from happening? We got to work. Our financial journey had begun. A journey, though challenging at times, has become the turning point of our lives in the US.
When we were $300,000 debt, we were in so much distress and felt frustrated at our circumstance. Sometimes we were angry at each other for not being able to provide for kids or felt disappointed at ourselves for struggling to meet the needs of the family. Many times, on our financial journey, we felt like reverting to our old ways. But in your moment of despair, that is when God sows His seed. And so, it was for us. He reminded us WHY we were on this journey and of the experiences that had led us down this path.We were able to reset our thinking, and with the help of Dave Ramsey we began seeing results.
Though we were able to reset our lives and dig our way out of debt, if God had not ordained it so and poured out His blessing on our lives, we would not have been able to budget and execute our plan.Now, when faced with challenges, our faith in God, believe in our dream and each other keep us moving forward. We have learnt through all of this that no experience is wasted. Whatever you go through, there are lessons to be learned. Do not let your past experiences define you. Use your failures, mistakes, and setbacks as building blocks for the dreams you want to create.
Don’t give up. Set your financial goals, develop a plan, put in the required work and soon you will see results.
You’ve👏🏻 got👏🏼 this!👏🏽