Informed Choice Radio - personal finance peace of mind with Martin Bamford

My guest for this episode of Informed Choice Radio is Maria Nedeva.

Maria is the founder and blogger behind The Money Principle.

As you will hear in this interview, back in 2009 Maria and her husband discovered they had £100,000 in consumer debt, accumulated through a combination of the global financial crisis, reduction of income, financial ignorance and an absolute refusal to engage in sound money management practices.

Maria had reached a crisis point but, and this is the reason her story is so compelling, managed to turn it all around. In three years, they had repaid all of the consumer debt. A couple of years later, and they have saved a sizable pot of money for the future.

As well as being a money blogger, Maris is a Professor at a well-respected business school. She has a PhD, teaches creativity and innovation, and talks to Prime Ministers about wise ways to spent their country’s money on science.

In this episode of Informed Choice Radio, I speak to Maria about her incredible journey into and out of debt, why you have to reach a crisis point in order to take control, the difference between an emergency fund and a freedom fund, how frugality sucks but frugalartisty works, and much more.

Welcome to Money Principle with Maria Nedeva, in episode 157 of Informed Choice Radio.

Some questions I ask

-How did you get into £100,000 of consumer debt?

-Was being a Professor at a business school helpful in understand how to get out of debt quickly? 

-Was being in so much debt the wakeup call you needed?

-What makes the biggest difference when repaying debt; cutting expenditure or increasing income?

-What's the balance between debt repayment (frugality) and satisfaction with your life?

-Can you explain to our listeners what you call the game of wealth?

Useful links mentioned in this episode

-Maria on Twitter

-The Money Principle website

Thank you for listening!

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Direct download: ICR157_Maria_Nedeva_Money_Principle.mp3
Category:investing -- posted at: 1:30am UTC