Getting rid of six-figure debt is no easy feat but Takiia Anderson, the voice behind The Frugal Biddy, is proof that it can be done. After graduating from law school, Takiia had accrued more than $150,000 of debt. As the single mother of a 2-year-old little girl making only $34,000 a year, she knew that something had to change.
Takiia went on to save over $500,000 and pay for her daughter’s college education at the prestigious Spelman College. She shares all of her tips, tricks, and personal finance advice on her blog, The Frugal Bitty.
In this episode we discuss:
- The overall steps Takiia took to go from debt to having a large savings today
- The things that she gave up to pay off her student loan debt
- Her decision to save for her daughter's college costs while still being in debt
- Takiia’s plan for investing when she first opened her daughter's college saving account
- Why she stopped investing in retirement to save for her daughter's college education
- The money lessons that she taught her daughter
- Passing on generational wealth and not generational debt
Other related blog posts/links mentioned in this episode:
Single Mom Masterminds 700,000 Swing From Debt to Savings
Frugal Biddy- Pass on Generational Wealth Not Generational Debt
Fugal Biddy- Mental Health Savings Plan
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