[Ep. 9] Confessions from a Shopaholic with Michelle Summerfield

michelle-summerfield-budget-bloggessMichelle from Budget Bloggess was one of the first personal finance bloggers I met when I moved to Toronto over two years ago, so it was inevitable that I would have her on my podcast at some point.

If you aren’t already a reader of her blog, I highly suggest it. She is super open about her struggles with debt and shopaholism, which we discuss in-depth in this episode, plus I just love her blog post series about her alter ego — Spenderella.
We also got to bond over our frugal dads in this episode, and we even talk a bit about her divorce and how that influenced her debt repayment. Lots of great topics covered in this show I must say!

We both mentioned a few of Michelle’s blog posts during this episode, so here they all are. Thanks again for reading and listening, and make sure to check back here next week for episode 10. It’s a particularly special and personal episode all about my experience moving from Vancouver to Toronto.

Blog Posts Michelle Mentioned

Shout Outs

At the end of this episode I gave shout outs to Kat04 and Michie2003 who were nice enough to leave me reviews on Stitcher. Thanks so much guys! And if you want to get a shout out on amy show, all you have to do is leave me a review on iTunes or Stitcher and I’ll read it out on a future episode.
Have ever experienced shopaholism? How did you manage to conquer your inner Spenderella?

For more podcast episodes, check out the podcast page.

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Showing 6 comments
  • Nicole Mailloux
    Reply

    Loved this episode! It was such a REAL conversation about money, saving and getting out of debt. Michelle’s message about not being afraid to fail is so important and honest. Thanks for this!

    • Jessica Moorhouse
      Reply

      So glad you liked it! I absolutely loved talking to Michelle. I think a lot of people can identify with her story (including yours truly).

  • Rob
    Reply

    Great podcast, Jess! I applaud Michelle on her determination to get out of debt by years’ end. From long years of personal experience, talking as a guy who is debt free and financially happily retired, I would make one comment however. In order to one day become fully debt free – and then stay that way (without sliding back into deep debt again), one has to not just look at present spending requirements but also plan for future spending requirements. I’ll give you an example. Michelle still has a car loan which she plans to fully pay off soon. After that happens, however, she should then plan to put money aside in preparation for the replacement some day of that car (which is a depreciating asset). It then would be much better if she later could then be able to fully pay cash for that future car, rather than take out yet another car loan (along with the interest payments). Planning, budgeting, discipline. It never stops – even after today’s debts are eventually paid off. Tackling today’s issues but not forgetting to plan for handling tomorrow’s – thru budgeting, saving, and investing wisely. Been there, done that …

  • Roz
    Reply

    Wonderful episode. Very insightful on a common problem in western society.

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