Financial Confessions: Teen Mother to Financial Coach Journey

Jasmine Higgins, a financial coach, became debt-free by paying off $70,000 in consumer debt and is now focused on building her financial future by strategically investing and managing her mortgage.

### From Teen Mother to Financial Coach: Jasmine Higgins' Journey to Financial Stability
* 👶  Jasmine Higgins became a mother at 17 and faced financial challenges with her husband, who was **undocumented at the time**.
* 🏫  She managed to finish high school while pregnant and had her second child at 19, all while working and dealing with **financial instability**.
* 💼  Jasmine pursued higher education at University of Phoenix to **improve her career prospects** while working and raising her children.
* 💸  After accumulating **$70,000 in consumer debt** and **$100,000+ in student loans**, she discovered financial podcasts and adopted the **snowball method** to pay off debt.
* 🌟  A pivotal moment was when a friend encouraged her to start contributing to her 401(k) for the employer match, **opening her eyes to retirement savings**.
* 🏡  The family also made some financial missteps, such as **getting into car loans and a timeshare**, which added to their **debt burden**.
* 🔥  Jasmine's journey to financial stability was fueled by discovering Dave Ramsey's **debt freedom philosophy** and implementing it in her own way.
* 🎓  Despite not finishing high school, Jasmine's husband worked his way up to an accountant role through **hard work and gaining skills on the job**.

### Overcoming Financial Struggles and Building Wealth Against the Odds
* 🏖️  Purchasing a timeshare in California for $35,000 turned into a financial nightmare, with maintenance fees of **$1,200-$1,500 annually** and **limited availability during peak seasons**.
* 🏠  Transitioning from consumer debt to a mortgage, the speaker's family now holds a **$594,000 mortgage at a 3.7% interest rate**, which they consider a smart decision given the property's **$200,000 appreciation in the first year**.
* 💰  The speaker emphasizes the importance of **strategic debt management**, suggesting that any debt with an interest rate **over 7%** should be a priority for repayment to ensure **better returns on investments**.
* 🎓  Reflecting on her **$100,000+ student debt** from a for-profit school, the speaker now recommends **community college** as a more affordable and valuable option for higher education.
* 👨‍👩‍👧‍👦  The speaker credits her 20-year relationship success to **mutual respect, loyalty, and forward-thinking**, highlighting the importance of **having each other's backs** and **always planning for the future**.
* 🎯  Encouraging others to break generational curses, the speaker founded "Budget with Jasmine" to provide personal finance coaching, offering both **one-on-one and group coaching sessions**.
* 🤰  Starting a family at 16 and 17, the speaker reflects on the challenges she faced and the importance of **open communication about contraception with her own children**, which was lacking in her own education.
* 🌟  The speaker's story defies many statistics and expectations, from **overcoming teenage pregnancy and financial struggles** to **building a successful career and long-term relationship**.

From Teen Mom To Financial Coach: Breaking Generational Curses

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The Financial Confessions: A Teen Mother's Journey

Jasmine Higgins, a former teen mother, successfully navigated her finances after having a child at 17 and is now a financial coach.

She and her husband got jobs to support themselves, despite facing challenges like being undocumented.

Higgins was able to finish high school by overloading on credits and returned to school two weeks after giving birth.

Overcoming Challenges as a Teen Mother and College Student

Living with her boyfriend's parents, the interviewee had to pay rent while juggling school and parenthood.

She chose a private university for its flexible program and the ability to qualify for student loans, which she knew she would eventually have to pay off.

Despite the unexpected challenges of being a teen mother, she felt supported by her school community, with teachers and friends rallying around her with accommodations and a baby shower.

Struggling with Teen Parenthood and Financial Instability

The speaker and her partner faced financial hardship and instability while being teen parents, often living paycheck to paycheck and receiving little guidance on financial matters.

They resisted the temptation to rely on welfare and instead worked multiple jobs to achieve independence, experiencing years of instability before gaining financial stability.

The speaker's husband, who was undocumented for several years, faced precarious employment situations due to his immigration status, adding to the family's financial struggles.

Overcoming Challenges and Finding Success without a College Degree

Pablo managed to find jobs quickly by using a fake ID and false information, despite not having a high school education.

He gained experience and skills on the job, allowing him to progress to an accountant role.

The conversation challenges the notion that a college degree is always necessary for professional success, emphasizing the importance of experience and on-the-job learning.

Discovering Financial Independence Through Investment and Debt Freedom

A life-changing encounter led to enrolling in a 401K plan and discovering the importance of investing at a young age.

The speaker and her husband made a significant lifestyle change, paying off a total of $173,000 in debt, including consumer debt and six figures in student loans.

The accumulation of debt started with car loans and credit card use for expenses without a proper budget in place, leading to a paycheck to paycheck lifestyle.

Being in $70,000 of debt, including a vehicle, the person used the snowball method to pay off their debts gradually, which gave them a sense of financial relief.

The individual also shared their negative experience with the time share industry, expressing frustration at being locked in a contract with a product that never meets their needs.

They highlighted the predatory nature of the time share industry and the challenges of trying to get out of the contract.

The Financial Burden of Timeshares and Debt Freedom Journey

A timeshare owner expresses frustration at spending around $50,000 on a timeshare they rarely use and criticizes the unethical timeshare industry.

The individual successfully became consumer debt-free by paying off $70,000 and then accumulated a $600,000 debt for a house, viewing it as a strategic investment.

A financial adviser recommends prioritizing the payment of debts with an interest rate over 7% and views the mortgage as a smart financial decision.

Real Estate Market Trends in Los Angeles and New York

The speaker had a fortunate experience of buying a house in Los Angeles during the pandemic, without using real estate agents, and took advantage of the fear in the market.

They also discussed the stability of the New York neighborhood's property value and the factors that contributed to building equity.

The conversation touched on the emotional attachment people have to home ownership, the impact of hasty decisions on financial disaster, and the current fast-paced, cash-heavy housing market in California.

Reevaluating Housing Priorities and Mindset

The obsession with living in expensive areas like LA and New York may not be worth the high cost, considering the diminishing returns.

The interviewee defied the statistics and expectations placed on her as a teen mother from a low-income background, emphasizing the importance of focusing on personal goals and priorities rather than societal expectations.

After years of hustle and survival mode, she and her husband are now transitioning to a more balanced mindset, encouraging others to strive for a better life while defining their own goals.

Overcoming Generational Curses and Parenting Challenges

A coaching business focuses on breaking generational curses and encouraging people to think about their goals.

The interviewee reflects on their student debt and advocates for the benefits of Community College.

Open communication about contraception and access to information are highlighted as differences in parenting styles, with a shared experience of limited sex education in school.

The Impact of High School Education on Learning

Sports took precedence over education in the high school, with coaches prioritizing their role over teaching.

A health class was repeatedly shown the movie "Remember the Titans" instead of learning about important topics like STDs and nutrition.

The interviewee only gained comprehensive knowledge about sexual health during their bachelor's program and while volunteering at a women's home rehab, emphasizing the lack of proper education in high school.

The key to a successful long-term relationship, despite facing many challenges, is based on mutual respect, standing up for each other, and always thinking ahead.

Starting a Personal Finance Coaching Business

Jasmine is a personal finance coach who offers one-on-one and group coaching on both the east and west coasts.

Her company, Budget with Jasmine, provides complimentary 20-minute coaching calls and focuses on breaking generational curses, negotiating salaries, and building wealth.

Jasmine is passionate about helping people become debt-free and comfortable with making a lot of money, aiming to make a difference in their financial situations.