Money Management and Resilience: Navigating Difficult Decisions

How do you prioritize your spending? Have you set yourself up for the future? 

In today’s episode, Sydney and Audrina talk money management and the balancing act of paying off debt while setting yourself up for the future. From horrific financial situations to unprecedented global pandemics, entrepreneurship isn’t always a glamorous life seen through rose-tinted glasses. But if it lights you up and you’re intentional, you just have to do whatever it takes to keep going. And remember—you’re not alone.

Sydney gets raw and real about her experience setting up and opening a hostel in Guatemala, and how they couldn’t lose the opportunity because that was literally all they had. From selling her wedding ring to borrowing $25 for groceries, Sydney’s situation was dire. She went from raising over a million dollars for her company to working out what to do to avoid homelessness and starvation. But she pulled herself out.

Positive things can come from difficult times, like getting to know yourself better. You learn to let go of things that don’t serve you, including relationships. These situations make it really clear to see who you can count on—they can also show you what you truly need in life. Although Audrina’s previous life looked like ‘the ideal,’ she’s now much happier and fulfilled at her core after realizing how much she doesn’t need.

In This Conversation:

• Audrina and Sydney dive into the importance of letting go of your ego when you’re in a dire situation because you have to just do what you can to get through. When you need to ask for help, the worst that’s going to happen is they’ll say no… but the best is they’ll say yes.
• Sydney talks about how they poured everything into the hostel and saw it as their savings account—and lifeline. She spent many years working for someone else and wasn’t fulfilled, so she couldn’t give up (even though they were only sleeping four or five hours a night for months on end…).
• Audrina and Sydney touch on negative spending habits and how they can be so hard to break. A guilty mindset around spending isn’t helpful, but understanding and aligning with what you value and where you put your money is.
• Sydney opens up about how much debt she’s managed to pay off in the last five years (hint: it’s a lot) and one of the biggest things she learned about getting into that much debt.

For more unfiltered conversations about entrepreneurship, family life, and managing the daily demands of “doing it all”, click the Follow button so you don’t miss an episode! 

If anything we talked about resonated with you, we’d love to hear about it! Always feel free to reach out with questions, comments, or future topics you want to hear.

Connect with us:
Instagram: https://www.instagram.com/swearingbyit/

LinkedIn:
Audrina: https://www.linkedin.com/in/audrinablackburn/
Sydney: https://www.linkedin.com/in/sydneymsherman/

Resources We Mentioned:
Deeper Than Money By Chloe Elise