👋 Meet Lesley

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She’s a freelancer who takes care of her parents and worries a lot about her inconsistent income.

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She has college debt, worries about her income, feels pressured to help her family, and is afraid of taking financial risks. On October 2023, she signed up for Doing Well and was able to save money, pay off some debt, reduce expenses, and start saving for retirement.

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🚧 Challenges Faced

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Lesley looks after her parents and works freelance, but she wants to have a steady job and start preparing for her personal financial goals.

• Provider Role: She’s a provider for her handicapped father
• Overspending: Spends a lot on food and shopping and wants to cut back
• Unsteady Income: Her paychecks aren't the same every month because she works freelance
• Family: Thinks she might need to help her family with money later on
• Money Stress: She's a bit stressed about her current money situation
• Money Risks: Scared of taking chances with her money

🎯 Goals Set

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Lesley wants to learn more about money so she can start investing and improve how she spends.

• Employment: Have a full-time job with benefits
• Financial Planning: Understand how to invest money and plan for when she's retired
• Independence: Hopes to live in her own place, not with her parents
• Eating Out: Wants to eat out less often
• Travel: Go on trips more often

🚀 Progress Achieved

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In just 9 months of working with Doing Well, Lesley was able to pay off some debt, spend less, start getting ready for retirement, and increase her savings rate.

• HYSA: Moved $32K into a High-Yield Savings Account (HYSA) and adds more every month.
• College Debt: Paid down $5K of her college debt.
• Investment: Moved $6K into a Roth IRA and contributes to a retirement account every month.
• Spending: Cut down monthly spending by $1K.
• Saving More: Increased savings by 49.57%.

❓Questions & Answers

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1) How did your upbringing influence your financial decisions?

My mom sold jewelry and managed our money because my dad couldn't work due to a disability. We didn't talk much about money at home, and I only started earning money in 2021. I remember not being able to go on school trips because they were too expensive. These struggles made me more careful with how I spend and save money.

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2) Could you share your financial progress and current goals?

Ever since I signed up for Doing Well, I've been able to save up some money, pay off some debt, and start preparing for my future. My current goals are to keep saving, spend less, and learn more about investing for retirement.

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3) What money habits have you adopted to improve your finances?

I keep track of what I spend and make a plan for how much I can spend on things like eating out and shopping. I also make sure to save some money from every paycheck. It's not always easy, but by being careful with my spending and putting some money aside regularly, I'm getting closer to my goals of moving out of my parents' house and become financially independent.

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4) What advice would you give to others facing financial challenges?

Don't worry if you're not making a lot of money, you can still save by cutting back on some expenses. Put some money into savings and investments, even if it's just a little, it will help a lot later on. Saving early means you'll have more money when you need it. So, even if it feels like you're not making much progress now, every bit you save adds up.

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5) What inspired you to embark on your Doing Well journey?

Seeing my parents struggle with money made me want to learn how to manage mine. I was worried about not having a steady income every month, and I wanted to have savings for later. Plus, I really wanted to know how to make my money grow. I thought if I made good choices with my money and set goals, I could make my life more stable, so I signed up to Doing Well.

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💬 A Message From Lesley

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"Managing my finances was always hard as a freelancer. My income was all over the place, and it was hard to keep track of things until I signed up for Doing Well. They understood my unpredictable earnings and helped me set up a plan that fits my needs. With their help, I learned to save for taxes and manage my money better daily. Now I feel more in control and confident about my finances."