Episode 115: The Power of Financial Stewardship: Insights from Marcia Armstrong
In this week’s episode of the #MoneyMagic Podcast, Vangile introduces her guest, Marcia Armstrong, a personal finance disruptor from Barbados, who shares her insights and experiences in personal finance.
Marcia, worked at City Bank for a decade and recounts her journey from financial instability to becoming debt-free. She explains how she realized the importance of stewardship over money and adopted the snowball method to repay her debt.
Marcia emphasizes the significance of acknowledging one's debt, selecting a repayment strategy, and finding ways to increase income. She also highlights the importance of automating payments and having a support system to stay motivated throughout the debt repayment process.
Marcia delves into the emotional and mental shifts required to achieve financial freedom, discussing how she had to confront her money script and the trauma associated with it.
She explains that financial literacy is a lifelong journey that requires daily habits such as checking bank accounts, understanding financial goals, and being intentional with money.
She stresses the need for a mindset shift from scarcity to abundance and the importance of serving others to create generational wealth and legacy.
In her work with clients, Marcia offers one-on-one coaching, group coaching programs, and a personal finance course. She aims to empower individuals to become financially confident and independent, capable of managing their finances without constant reliance on a coach.
Contact Marcia:
https://www.facebook.com/apurposelife
https://www.instagram.com/a.purpose.life
This is another insightful episode.
Tune in.
Click the video to watch.
During this episode, you will learn about:
[03:17]: Introduction to Marcia Armstrong.
[04:44]: Marcia talks about becoming a personal finance disruptor
[06:59]: Marcia's debt-free journey and strategies.
[08:23]: How to start paying off debt.
[12:47]: Importance of automation and support system.
[16:24]: Explanation of the snowball method.
[24:25]: Importance of community and personal change during the financial journey.
[31:50]: Addressing money trauma to prevent future setbacks.
[34:14]: Challenges of limited resources and asking for help.
[37:40]: Observations on wealth and scarcity mindset.
[44:48]: Maintaining daily financial habits.
[52:18]: Embracing the road less traveled and creating legacy.
[58:04]: Final thoughts on financial literacy and empowerment.
[58:47]: How to connect with Marcia Armstrong.
Notable Quotes
1. "When it comes to debt, money in itself can make people embarrassed, it can make people ashamed, it can make you feel guilty."
2. "My money can only behave like the person who holds it."
3. "You can have a lot of riches, but be thought poor. Then you are thought poor and have tangible riches."
4. "Financial literacy is a lifelong journey. It is not a one-off something that you learn today and then you just put to decide tomorrow."
5. "If you don't heal from your money trauma, you will reach a particular stage in life and that trauma can take you off your platform."
6. "Because I would have sewed in one place, does not mean I will reap in that same place."
Additional money trauma resources:
One on One Coaching: https://www.wealthy-money.com/coaching
Money Magic course: https://www.wealthy-money.com/moneymagic
7 Day Tapping into Ancestral Money Wisdom Training: https://wealthy-money.com/training
Let’s connect on Instagram: https://www.instagram.com/vangilemakwakwa/
