Money Gal Coaching: My debt journey started with a pressure cooker

Kelly Blodgett explains the stresses that led to her going on a debt-free journey.
Author:
Publish date:

Kelly Blodgett launched Money Gal Coaching with a goal of serving people who, like her, were burdened by debt. You can get her tips for paying down debt on a regular basis at Bring Me The News, in addition to the Money Gal Coaching website and Facebook page. Here latest story: 

I am a big believer in having as little debt as possible, but probably not for the reason you are thinking. There are actual physical, emotional and financial reasons for you to get rid of your debt.

When I was on my journey to getting rid of my student loans I was stressed constantly. And the ironic part was that I couldn’t afford the occasional massage, because I had no money, and I couldn’t relax by curling up on the couch because I was working all the time.

Symptoms of financial stress are real, and these are a few of the big ones:

The first real reason to get rid of your debt is that you are carrying less risk (hello, 2020). My 2020 was unexpected. I dropped from 40 hours a week to 20 basically overnight at my day job because of the pandemic, and that was way more stressful than my previous student loan stress. 

But since my loans were paid off, I just had to reevaluate my budget and watch my spending. Even though I didn’t have extra money, I wasn’t wasting what little money I did have on debt payments. My situation could've been a lot harder had I now gone on my debt-free journey prior to the global health crisis. 

A better credit score is another reason. Sure, debt is a factor for a good credit score but it’s not that simple. You can have too much debt which can end up costing thousands of dollars in interest that might've otherwise gone to that next house, car or boat you’ve been eyeing. And debt is actually a very small percentage of this score. You don’t have to carry debt to have a good rating. 

The only debt I have is a mortgage and I pay my credit card in full every month and my rating is still excellent, it can be done!

Better cognitive function is next upStudies show that experiencing poverty can impair attention span, working memory, and self-control. Have I ever mentioned that I once bought a pressure cooker on an infomercial before Instapot was even a thing?

Yeah, I couldn’t afford it and who knows why I thought I needed one. Now I have the pleasure of a kitchen appliance that weighs a ton that I use once a month when I decide to make rice. 

Fortunately, studies also show that paying off debt reverses cognitive issues caused by financial stress.  

Less chronic pain is another real benefit to getting rid of debt. People with high levels of stress caused from debt are more likely to experience migraines, back pain and general muscle tension. They are also more likely to buy over-the-counter painkillers.

Money Crashers lists 13 reasons other you should want to get rid of debt. 

The general consensus is that debt is bad, we all know that. If you can related to the physical, emotional and financial stresses listed above, you should seriously consider taking the next step to begin paying down debt. 

Reach out to Money Gal Coaching

If you need help getting out of debt, contact Kelly Blodgett of Money Gal Coaching. Reach out to her via the Money Gal Coaching website or Facebook page.

Sponsored: Money Gal Coaching special offer for friends of Bring Me The News.

Disclaimer: Bring Me The News will receive a portion of the proceeds from readers who purchase a service from Money Gal Coaching via our articles. 

Next Up

covid, vaccine

Minnesotans eligible for COVID shots only need to pre-register once for vaccine lottery

This is good news for people worried that they'd need to sign up every week.

police lights

2 people charged in separate Minneapolis homicides that happened hours apart

A woman is accused of stabbing a man in the chest over $60, while a man is accused of accidentally shooting a victim on the man's birthday.

House for sale

Despite pandemic, Twin Cities housing market set records in 2020

Sales were up 7.7% in 2020 compared to the year before.

Target store inside

Target unveils 'limited-edition' home, lifestyle collection with Levi Strauss

The new collection will be available in some stores and everyone online Feb. 28.

Tim Walz

Walz's $52.4 billion budget increases school spending, raises taxes on wealthy

He says the budget will help level the playing field and ensure all Minnesotans have a fair shot at economic recovery,

Screen Shot 2021-01-26 at 12.55.00 PM

Pictures from Minnesota GOP's Deadwood retreat show no masks, no distancing

The pictures were shared in Chair Jennifer Carnahan's latest email newsletter.

Alexus Norberg

Search for girl, 14, missing from St. Cloud

The teen left her home without her parents' permission.

coronavirus, covid-19

Here is Minnesota's COVID-19 update for Tuesday, January 26

The health departments provided new data daily at 11 a.m.

Sars-Cov-2

What health officials know, don't know about Brazil P.1 variant

Minnesota health officials confirmed the first case of the P.1 variant in the U.S.

christopher and banks

Christopher & Banks closing stores for good, laying off 361 people at Plymouth facility

The layoffs began earlier this month and will continue through March.

Screen Shot 2021-01-26 at 8.56.43 AM

Tributes, donations after death of popular South High School teacher

The fundraiser had raised more than $9,000 of its $15,000 as of Tuesday.

Related

Family Dollar

Money Gal Coaching: 12 things you are wasting your money on

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

BMTN 900x450 (3)

Money Gal Coaching: 6 reasons you are still in debt

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

credit card, payment

Money Gal Coaching: Bouncing back after living your best life

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

Screen Shot 2020-12-04 at 11.00.30 AM

Money Gal Coaching: Habits of a millionaire, just in time for the holidays?

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

BMTN 900x450 (8)

Money Gal Coaching: You should be earning cash ... on your cash

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

Christmas presents

Money Gal Coaching: 3 holiday tips to avoid January buyer's remorse

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

BMTN 900x450

Money Gal Coaching: 5 things I did to get rid of debt

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

money

Money Gal Coaching: Paying down debt and keeping an emergency fund

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.