Kendra B. of Springfield, Mass. recently enrolled in our Finance program and is excited about where she is going.

For the past few years I have been doing a lot of reading about personal finance and everyone seems to have their own ideas of what is most important. David Bach’s Automatic Millionaire and Smart Women Finish Rich made a lot of sense to me, but then there was Dave Ramsey, Suze Ormon, Robert Kiyosaki and others.

Because of this I found it very difficult to decide what I should focus on first. Should I build my emergency fund first or pay off debt? Should I fund my 401k or wait until I have paid off my debt and have 3 to 6 months of savings?

One day I received an invitation to learn more about the Finish Rich Coaching Program from Prosper and I immediately wanted to find out more information. I was assigned my coach and together we worked on a financial plan that was right for me and my individual needs and circumstances.

Since joining the coaching program and taking part in the webinars, homework and conference calls, I now have clear direction on what I need to do first. I have been able to think about my dream and goals and give them dates of when I plan to achieve them.

Prior to the program I couldn’t see any further than just my debt. I learned that my net worth was a negative amount and that was really troubling. I also learned that I clearly need to rethink how I spend money and how to prioritize my spending by what is important to me. So far I have consolidated my credit card balances onto a card with 0% for balance transfers and am working on building up an emergency fund. I am also looking at ways of increasing my income.

This success story was recently submitted by Beth A., a student in San Mateo, California.

Prior to joining this program, my finances were completely out of control. I had incurred a lot of debt and it would have been worse now if I had not sought professional help. It was difficult to get out of the debt circle on my own. I felt hopeless and stressed out by the condition of my finances all the time. I felt too embarrassed. Frugality was a word I didn’t understand. I was living way beyond my means and helping people even if I couldn’t afford it. I realized that if I wanted to be financially independent, I had to learn to say NO to myself and to others.

I’ve learned many things in the TDIW program. One thing I will value forever is the way that my mindset has changed when it comes to spending. I’m learning to value the money I’m making for me and my future, not for show-off at the moment.

I’ve been tracking all my expenses and trying my hardest to stay within my monthly spending plans. When I go grocery shopping, I try to only get the things I need for the week and get out of the store as fast as possible. I never realized that using coupons could be fun and rewarding. A big adjustment is for me is cooking more and bringing lunches to work rather than eating out everyday. It freed up a lot of cash to add into my accelerator margin.

I’m very excited to share that I have paid off a credit card and my car! And in less than four years, I will be completely out of debt! I can’t wait!

In conclusion, I’m really glad and proud of myself that I signed up for this program. Although it’s hard being frugal now, I’m so willing to do it because I know it will bring me a brighter future. There are so many things I’d rather do with my life than working till I’m 65. There has to be a better purpose in life. I would like to be able to retire in 20-25 years. I would like to travel abroad with family and friends and help plant churches all over the world.

Beth A.
San Mateo, CA

Prosper’s students regularly share their successes with us. Here is a story we recently received from a student in Georgia. To see more financial student success stories, click here.

Personal Finance Student Eliminates $8,000 in Debt

I started this program last November. I had tried other programs and was overly skeptical about this one, but something in this program stood out above all the rest. A little fearful, I enrolled. Who would have thought that I could pay down my debt and start a business? In my mind, I never dreamed that I could be an entrepreneur, much less on my way to being debt free.

I just didn’t have the touch and I sure didn’t have the capital to start a business, or so I thought.

It is now six months later and I have already paid off more than $8,000 worth of my debt, not to even mention starting my own business. I paid off two credit cards and two student loans in less than six month of enrolling into this program. I give thanks not only to God but to my two Prosper coaches.

I had been bound by debt for years, robbing Peter to pay Paul. Living paycheck to paycheck was all I seemed to know. To pay off some of my debts and see the fruit of my hard work and faith in action was a dream come true for me.

Rosa Kelly P.
Decatur, GA