4 Fantastic Female Bloggers Who Destroyed Personal DebtJan 17, 2019
Canadian women are taking the professional landscape by storm. But that doesn’t mean there aren’t roadblocks, like personal debt, in their way.
Women make up the majority of university grads, but their ability to cover basic living costs is challenged all the time.
Lower wages, competition for jobs and a tendency to take on a high amount of familial responsibility means women might take longer to pay down their debt. And women are more likely carry a larger debt load to begin with, according to results from our 2018 BDO Affordability Index report.
The recent holiday season may have highlighted some of those challenges for some women. But all is not lost!
Here are four fantastic Canadian women who have found ways to combat their debt while forging their personal and professional paths.
Krystal Yee is an open book.
She takes an honest approach to financial blogging and lays out all her successes and misses along the way.
No stranger to consumer debt (specifically credit card debt), Yee was struggling to make ends meet out of university while she fought to have a lifestyle she wanted.
She gives you all the detailed spreadsheets and analysis you can handle, but they’re easy to understand, since they’re essentially spreadsheet journals of her experience.
There are no quick fixes here, and Yee manages to be honest about the time and intense effort it takes to make financial gains while still being a great motivator.
Desirae Odjick created a user-friendly guide to finances. You’ll find your own financial literacy increases as you read, and you’re more confident as you make decisions about your personal debt load.
Many women know the constant struggle of competing financial obligations and goals.
Odjick’s approach to planning for short-term goals, and juggling multiple short-term goals, is helpful.
There seems to be no shortage of costs. Just when you eliminate one personal debt, like paying off a vehicle or covering the “start-up costs” of a new job (transportation, parking, professional clothing, etc.), others follow: baby showers, weddings or home repairs suddenly emerge.
Following her goal savings structure can help you avoid taking on more debt and take a load off your mind in the long run.
Moorhouse has become a bit of a personal finance icon. She started out a filmmaker, but her experience with personal debt and student loans took her on a path to becoming a financial counsellor.
She’s a prime example of how the best laid plans don’t always pan out.
Changing careers among Canadian women isn’t anything new, and with more opportunities opening up, and more financial considerations for many, changing your path might become the rule rather than the exception.
Moorhouse helps readers and listeners (she hosts a podcast) avoid unnecessary consumer debt, decrease/eliminate their debt load and even focus on retirement planning. And retirement planning is something women shouldn’t avoid, since their affordability challenges also make retiring more difficult.
Money After Graduation is Bridget Casey’s story of eliminating student debt and finding her own ideals when it comes to financial security and freedom.
She looks at the long game to help herself and readers pay off debt and build personal wealth, and she recognizes how difficult that is as a young professional.
Casey helps you look past your immediate debt load and motivates you to set goals for your ideal financial future.
Personal debt among Canadian women can be hard to shake. According to our Affordability Index, three-quarters of Canadians carry personal debt. The challenges of being a working woman with competing financial priorities and obstacles (like trying to re-enter the workforce after having children) can make it harder. Use these bloggers as motivation to find your own financial freedom.
What is your debt motivation? Tell us on Twitter. #LeaveDebtBehind #WomenAndMoney #ChangeYourMind