From Homeless to Hero

Hi Scott,

I’m a single woman in my fifties. Not long ago I was homeless and in debt. Then I came across your book, read that apparently “I’ve Got This”, and was determined to get myself out of the hole I had dug for myself. And I did. A couple of years on I have paid off my credit card debt, triumphantly (quietly) phoned my bank to close that account, signed a lease for a very beautiful home, bought $10,000 in ETFs, and saved $15,000 in Mojo (which gives me a huge sense of peace and freedom while I am between jobs and have no income). A big, warm thank-you for giving me and so many others such strength and hope, without shame and guilt for being in a financial mess.

Now I am wondering what people like me, who don’t have enough life left to accomplish ‘Step 4: Buy Your Home’, should do. Or have I got this too?

Sarah

Hi Sarah,

Before I get into your question, let me address the elephant in the room.

Some people would be reading your story and be shocked that you could be homeless.

However, you and I know that it’s actually pretty normal. In fact, around 400,000 women over the age of 45 are at risk of homelessness, according to a report from Social Ventures Australia.

Why?

Because older women who don’t own a home and have very little savings often end up falling through the cracks, and don’t even have access to social housing.

So should you consider taking up the Government’s Help to Buy scheme and buy with just a 2% deposit?

Heck, no!

By all means keep saving like a woman possessed. And who knows — when the time is right, you may be able to afford to comfortably buy your own home. Understand that you have already achieved financial security against all the odds … so never trade it away.

Finally, it’s human nature to forget how far you’ve come.

You went from being homeless to being debt free, owning shares and having an emergency fund behind you. Stop for a moment and celebrate it. You, Sarah, are incredible!

Keep going, you got this!

Scott.