Ep 10: Wiping out six-figure debt with Wendy Mays of House of FI
Jun 25 2020
So many mothers seem to have it all – the high-paying professional job, the great family, a nice house – but on the inside, they’re struggling. Just a few years ago, that was the story of Wendy Mays. While Wendy was a high-income earner at the time, the six-figure student debt and even bigger mortgage Wendy and her husband had accumulated were keeping her from living and raising her family the way she wanted to. While Wendy loved her career as an attorney, her priorities changed when Wendy and her husband adopted four little boys, some with special needs. As the primary breadwinner for the family, Wendy couldn’t just decide to stay home at that time. She was facing extreme burnout, depression, and the overwhelming feeling of being stuck in a lifestyle she no longer wanted. Through an internet search at home one night, Wendy came across the MAD FIentist. She was shocked to learn about everyday people who were saving significant portions of their income - and ultimately retiring early. This epiphany resulted in a dramatic shift in Wendy and her husband’s finances, family, and Wendy’s career. Listen in on this inspiring story to learn: What is the FIRE movement How Wendy and her husband have managed to eliminate $650,000 in debt in just a few years How Wendy’s children reacted when they changed to a more frugal lifestyle How it’s never too late to improve your financial situation About the Guest: Wendy is a mompreneur...former criminal defense attorney - turned - turned Podcaster and Blogger. She hosts a top-ranking podcast and YouTube Channel that aim to inspire and encourage families of all shapes and demographics to Dump Debt, Build Wealth and Budget Better while living a joy-filled life. In three years, she and her husband have eliminated $650,000.00 from their lives, have begun real estate investing and plan to reach Financial Independence by the time they reach 55. She and her husband reside in San Diego with their 6 children and 2 German Shepherds. You can learn more about Wendy on the House of FI website, YouTube channel, and podcast. About the Host: Janice Scholl has spent her entire career talking about money and business. Through her time as a commercial banker, consultant and mentor to budding entrepreneurs, she helped clients create solid business and financial strategies to help propel their business to success. While working with aspiring female entrepreneurs, Janice noticed that the same four themes kept repeating: Many women are uncomfortable with finance, both in their business and in their personal life. Women want access to more women mentors and advisors. Women often start businesses because they feel the corporate world doesn’t fit their lifestyle. Few are motivated by purely financial reasons. Mothers didn’t want money to drive their family decisions. From these themes The Money, Career & Motherhood Podcast was born. Now Janice spends her time helping mothers gain confidence and understanding about money, career, and business topics as they relate to motherhood and family – the way many women actually think about money. Janice loves helping mothers implement business and financial strategies within their families to help each family member thrive. IG @moneycareermotherhood FB facebook.com/moneycareermotherhood/ Money Career & Motherhood FB Community www.facebook.com/groups/moneycareermotherhood Website www.moneycareermotherhood.com Thanks for listening! Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page. Do you have some feedback or questions about this episode? Leave a comment in the section below! Subscribe to the podcast If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on iTunes or Stitcher. You can also subscribe from the podcast app on your mobile device. Leave us an iTunes review Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on iTunes, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on iTunes.