Debt is a complicated thing; it can be essential during some points of your life, but if it gets out of control, it can quickly upset your finances.
I’ve always struggled with debt and managing my finances effectively for as long as I can remember. It all began when I received my first credit card. Within a single month, I’d significantly exceeded my monthly credit limit and racked up a hefty bill.
I’d also never been particularly good at budgeting my expenses, and on the rare occasions I did create a budget, I almost always failed to stick to it. The fact that I always seemed to have a cloud of bad luck trailing behind me did not help matters at all.
It all came to a head when a series of unexpected expenses led me to realise that I was drowning in debt and unable to make ends meet. However, this tragic series of incidents and subsequent realisation turned out to be quite an eye-opening moment in my life.
Here’s how I was able to stay afloat amidst piles of debt, regain control of my finances, and ultimately get paid to mentor online.
Let’s dive into it!
Navigating the Rough Seas of Financial Hardship
As I’ve previously mentioned, I haven’t always been great at budgeting. Many would even say I was quite terrible at it, especially a couple of years ago.
At the time, I had a steady job and a regular source of income that supported my impulsive purchases and poor financial decisions. However, with the combination of my poor budgeting skills and tendency to live beyond my means, I still barely managed to get by each month.
It was about four years ago that my financial situation truly took a turn for the worse. That month, the roof of my home had sprung a leak and the flooring had suffered some heavy water damage.
To add insult to injury, later that week, as I was returning from work, my car broke down and I had to take it to the local garage for some emergency car repairs.
That weekend, when I sat down with my finances, I realised I had no additional funds to spare. I’d made a couple of impulsive purchases for myself earlier in the month, and the remaining part of my income would all have to go into paying off the minimum balance on essential expenses like rent and utility bills.
With my poor financial history, I’d well and truly decimated my credit score, making typical credit options no longer feasible. I’d finally used up all my lifelines.
Finding My Anchor
At a complete loss, this was when I decided to go online in a frantic search for potential solutions to my problem. During this time, I also reached out to every financially well-adjusted person I knew to see if they had any helpful advice.
A common suggestion I came across both online and offline was bad credit payday loans. A bad credit payday loan would let me borrow the funds I needed to pay off my immediate expenses, regardless of my poor credit score. After carefully researching and selecting my lender, I put in my application and fortunately enough, I was approved.
Discovering bad credit payday loans was truly my saving grace, but they weren’t a long-term solution. It was finally time to get serious about my finances; I’d definitely put it off for long enough.
As soon as I paid for my car and home repairs, I sat down and began to work on my budget. Whenever I encountered something confusing, instead of giving up, I persevered and looked for answers online or asked some close friends for their thoughts and opinions. They were more than willing to assist me through my struggles and glad I was finally actively trying to manage my finances.
After crafting my budget, I created a repayment plan and actually managed to stick to it. Slowly, I began to cut out unnecessary expenses from my life and develop healthier spending habits.
These changes appeared small and insignificant at the moment, but they had a positive impact on my financial situation. Eventually, I was able to repay my loan and even set up an emergency fund to fall back on in the future.
My determination to turn things around for myself and regain control of my finances had become an anchor amidst my sea of financial woes.
Becoming A Compass
A few years went by, and I still maintained my financially responsible habits and strictly adhered to my budget. I’d even thought of long and short-term financial goals for myself and begun actively working to achieve them.
It was somewhere along this path that an old friend of mine, who was experiencing his own financial struggles at the time, approached me asking how I’d overcome my financial crisis.
After sharing my story with him, I also gave him some tips and resources to help him get back on his feet. A couple of months later, he reached out to me, thanked me profusely for my help and informed me that he was in a much better situation. It was at this time that he also suggested that I give mentoring a try.
While I was proud of my journey and how I’d managed to turn my finances around, I’d never thought of myself as someone who could mentor others. This email opened my eyes to a possibility I’d never even considered.
Soon after, I hesitantly uploaded my first online tutorial on budgeting and how to make it work for you. To my surprise, it was received quite positively. I continued to upload some more beginner tutorials before I realised that this could be a potential revenue stream.
This was when I decided to become a paid mentor online and help others through the difficult moments in their lives.
Sailing Through Smooth Waters
I’ve been mentoring for just over two years now, and the experience has been immensely fulfilling. Through mentorship, I’ve learnt many new skills and discovered a new-found sense of satisfaction at being able to help those in need.
One of the main aspects that has helped me through my mentoring journey is my ability to relate to my mentees. As someone with a history of poor financial management, my journey was a testament that it’s never too late to turn your finances around.
Since my financial crisis, I’ve managed to achieve a fair share of my savings goals and make well-informed financial decisions. More than that, I’ve also discovered a wonderful way to make a difference, and that’s all I ever wanted to do.