Rita-Soledad Fernández Paulino had a hard time with debt from a large student loan of $23,000. She was no different than many people in the States who struggle to find a profitable enough job that will allow them to pay off every last cent. However, she decided she wasn’t going to sit around and wait for a miracle. She made a plan that aided her in paying off the entire amount, and she wants to share her story!
A Strong Woman With a Tough Childhood
Rita-Soledad Fernández Paulino grew up with two other siblings and her mother in Los Angeles. She recalls that her mother was not the best saver, which motivated her to get her first job at 16 – she wanted to become responsible and save better. Later in life, she started an Instagram platform – Wealth Para Todos, where she shared her story. She and her husband struggled to pay off her student debt, and she had to cut down a lot. But she managed and wanted to help others with her experience!
Talk About Debt With Children
The emphasis Paulino is trying to focus on is that including children in a conversation about money is immensely helpful in the long run. She says that even from an earlier stage, parents should write down lists of things to buy in the store and ask kids to participate in choosing the item with the best price. She explains that such an activity will be engaging and teach them to look at money as a tool.
Invest and Save for Retirement
Paulino discusses four simple steps to help you save more and be wiser about your finances. You should choose a reputable broker, pick the right plan, invest the money and choose the correct assets. This, according to her, will help further your knowledge and ability to save more money. She also points out that picking a retirement plan will stabilize your financial state in the future – take care of yourself, and then you’ll be able to take care of the children!
Paulina had many struggles throughout her life, including an illness that prevented her from being the educator she wanted to be. But as she stepped back on her feet, she chose not to sit around — she was going to take life into her hands and become better at saving for herself and her family. She knew that paying off her large debt was just the beginning – it was time to stop living on cutbacks and get better with her finances!