Is it really possible to live debt free in today’s culture?

“We can’t afford that” that was a phrase I heard often as a young girl. My money journey started at 9 when I decided that “we can’t afford it” didn’t cut it for me. It was then that I started my “side hustle” – collecting empty bottles from the neighborhood homes and exchanging them for cash to purchase the candies, stickers and other things my heart desired. At 12, I moved on to baby sitting and eventually had my first corporate job at 15.

Debt was not something we talked about at home. Money was considered a scarce resource– “it doesn’t grow on trees” was what my mother often said. It wasn’t until I realized how money, debt and the beliefs around the two had indirectly affected my childhood and our spending power as a family that I started to shift my own beliefs to create new positive associations with money.

Having worked in the financial service industry for over 5 years, I also know all too well the realities of debt, credit and the allure of loans. I know what can happen when debt gets out of control and how it can affect one’s life. I’ve also learned how individuals and companies have leveraged their access to credit to increase their wealth.

My guest on this episode is Lama Farran, money coach for MaxWorth.ca and financial blogger for the Huffington Post. Lama’s money started very early in her childhood and has helped her keep good money practices for most of her life. She is teaching her clients the power of living debt free and leading by example in the way her family handles their finances. If you want to know what it takes to live debt free, watch this episode.

Lama also talks about:

  • The debt trap of entitlement and the power of mindful spending
  • What #1 thing we can do to pay our mortgage off in half the time
  • What she learned from her parents about money

Now we’d like to hear from you.

What’s your biggest insight or take-away from this episode? What were you taught about money as a child? What debt management techniques have helped you control your finances? Let me know in the comments below.

Thank you for watching, sharing and taking this conversation back into your community so that we can continue to talk about money.

To your deserving success and happiness,

RG