Personal Insights into Debt, Bankruptcy, and Marriage

Each one of us has their own personal struggle, and we are no expection. Our challenge, throughout our entire marriage, has been with debt and the stress debt and financial challenges has caused on our marriage.

Periodically I’ve shared pieces of our story, how we’ve faced - not once, but twice - overwhelming debt that equaled, and sometimes surpassed, our annual income, and how we chose not to take the bankruptcy path, and chose to work through both the financial issues and the personal relationship issues that arose along the way.

Our first major struggle with debt was due to poor spending habits, and our second was because we didn’t adequately plan for the emergencies and unexpected events that inevitably came our way.

But while we are not yet done paying off this last round, over the last 2 years we have paid off $50,000 in debt, and over the last 10 years, paid off over $100,000. It’s been in an interesting journey, one full of lessons, growth, and faith.

Recently I talked with The Business Coach For Moms,  Teisha Shelby-Houston (aka Lady T) about why we made the choices we did, how & why we avoided bankruptcy, where I drew strength from during those really tough times when I didn’t know how we were going to pay for groceries, and the lessons I’ve learned along the way about being a mom, a wife, and a business person.

While it is extremely uncomfortable to discuss some of these very personal details, Greg and I hope that by doing so, we can encourage others who are facing financial challenges, and give you hope.

If you are struggling with financial uncertainity, debt, or all the challenges that arise in marriage over money, I invite you to listen in and hope that somewhere you’ll find encouragement and hope in your journey.

…Shannon

Listen to Powerful Women Only on Blog Talk Radio

Additional Resources:

Verses to Reflect on During Financial Challenges

 Q&A: Money is tight and the stress is hurting my family. What can I do?

Preparing for the Unexpected

 Are You Drowning in Debt?

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7 Responses to Personal Insights into Debt, Bankruptcy, and Marriage

  1. Frazzled Mom says:

    Thank you for sharing your very personal story with us. I think all of us from time to time struggles with this issue. The strain it puts on a marriage is awful. The very time we should be coming together to face this issue together, we pull apart.

  2. I appreciate you for coming on the show and speaking so bluntly Shannon. Thousands and THOUSANDS of Americans (including our Government) are in debt. Your story reminds them that they need to face up to it. Good job!

  3. Thanks Ladies!! It is a personal topic, but at the same time, one Greg and I feel more people need Hope and Encourgement in their journeys through it. Making hard choices isn’t easy, but is so worth it.

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