Jade Sancho-Duser is a licensed massage therapist whose business was heavily impacted by Covid 19. But even before the pandemic, Jade was struggling to balance large credit card bills with an inconsistent income.
When things became too difficult to manage on her own, Jade researched her options. That’s when she found MMI. Four years later, she was able to successfully pay off $20,000 and become debt-free.
Note: Transcripts are machine-generated and may contain errors.
Tara: Hello, welcome to Long Story Short. Today, I'm talking with Jade Sancho-Duser from Woodbridge, New Jersey. After coming to MMI during COVID Jade was able to pay off about $20,000 in debt in just over four years on a debt management plan with MMI. Jade is joining us today to share her debt reduction story. Debt, we've all heard of it.
Most of us have it. Debt seems to be an unavoidable reality of life. But what happens when it starts consuming life? Here at Money Management International, We believe that financial challenges aren't meant to be faced alone. On this podcast, we hear stories of people whose lives have been changed by MMI. Their stories are unique, personal, and inspiring. Stay tuned.
We're sharing each guest's long story. Short. Hi Jade, welcome to the show.
Jade: Hi Tara, thanks for having me.
You're very welcome. Thank you for joining us. I'm really happy that you're with us today. I can't wait to delve in and hear your story because 2020 COVID. And I think you experienced something that so many of us can relate to, not only then, but now too, with reduced income and high inflation and all those things. But Jade, before we jump in and start talking, tell us a little bit more about you, where you live, what you do.
Jade: I do live with my family, which was a big factor in this whole thing. And I've been a licensed massage therapist for 20 years now.
Tara: Oh, that's an exciting career
Jade: Actually, prior to the pandemic, I did mostly corporate benefits programs. So I traveled to different office places and I would see different people all the time and all different types of businesses and that kind of thing and do on-site chair massage services.
Tara: Ah, that's interesting and very much needed. So what was happening before you reached out to us here at MMI and how did you find us?
Jade: Prior to MMI and me really thinking I needed them, I I had several credit cards. I had applied for them. Like I said, I've been a massage therapist for 20 years. So when I had just started, I had these high expectations and I put my salary higher and I just like qualified for a bunch of credit cards and oh, I'll buy this, I'll buy this, I'll buy this and had like no concept of like what that actually even meant. And before you know it, I just was kind of paying off old credit cards slowly. A lot of store cards I had, I paid those off. And then the pandemic hit.
I think I had at least seven or eight different credit cards I was paying off at the time. That becomes to be quite a bit, especially when you have, you know, you're self-employed basically. So.
Tara: Yeah, it becomes unmanageable quickly. And even if you don't factor in a situation like the pandemic, those interest rates kind of creep up and then it feels like, you know, I'm making these payments, but I'm not really getting anywhere with them. And then when you add six or seven cards to the mix, yeah, it can become unmanageable. But I think it's a very common situation. So tell us how working with the counselors here at MMI how you were able to see a path forward out of that debt.
Jade: You know, when you get the credit card statement, it tells you, okay, within 10 years, you'll, you know, and I'll show a pie chart, like, oh, you'll pay this amount or you have. And I'm just like, okay, well, I guess I'm going to just be paying this for 20 years. Like, I just kind of accepted it. Kind of almost like a student loan. Like, you know, you made your bed now, you lay in it, and this is what you do. And once I realized like, oh, if I have to pay X amount and only like less than half of that is actually going to what I spent, like, and it just becomes this revolving thing. Like I couldn't get past the initial, you know, I would always max out the card.
I would always have to max out the card. I would always have to use it for something. Like it just became, it became a bad habit of like, oh, this is safety net. Oh, I need this. Let me grab this. And I just realized that over time, like, that's not sustainable. Like, I'm not 18 years old anymore, and I can just, like, run around and spend money that I don't have.
There's not gonna be anybody to save you from yourself, essentially. So that's when I was like, okay, well, what do people do? And I realized that, you know, I looked up debt management plans and Believe it or not, I got a lot of feedback from people like, you shouldn't do that. That's such a bad idea. It's such a bad idea. And I didn't do one. I had considered it pre pandemic.
And then once it, you know, the pandemic hit, I just was like, okay, well, everybody's just speaking from a negative standpoint, like, like, let me do research. And I did research, and MMI actually came up as one of like the most trustworthy out of the group. They had a lot of good ratings. Like, I'm very skeptical. I didn't want to be scammed. And so I did my due diligence, and I looked into the company, and I was like, okay, let's do this. Let's figure out what am I doing?
Can I get out of this hole?
Tara: So, you know, it's interesting that you bring that up, that so many people were like, don't do it. Don't ask for help. And I think, you know, what you said is a common thing, I think. There are players in the game that maybe are not doing the right thing. And unfortunately, those stories sort of get out there and people are very apprehensive about reaching out and asking for help. So I'm glad you did your due diligence. I'm glad you found a nonprofit here with us at MMI and you were able to take a step forward.
So in that vein, I want to ask you now you've had the experience. If you were to encounter somebody in a similar situation, what would you tell them?
Jade: Do it. And I, I have friends now that they, you know, travel from state to state looking for jobs, all of this stuff. And I'm just like, just do it. Like that sacrifice of getting on the payment plan was worth it because I have accelerated far beyond anything that I could even imagine. And that's why, like, I, I even agree to speak about it because I only like as a professional, I only do things and recommend things that I believe in. So for me to recommend something is like, you know, it's a really-- it's a big deal to me. And I truly believe that this can help people because we get stuck in this, for lack of a better term, I can't think of it right off the top of my head, but like this poverty mindset where we just get-- it's not a growth mindset, it's just lack.
We come from a place of lack and, oh, well, I need this, I need this, I need this. Oh, how will I get this done? How will I get this done? And then you're so quick to listen to the negative, the negative nancies. You can't see the vision yourself. You're over here living what other people have told you is their life. But you have your own, like you got in your own mess, your own way.
So you have to figure out how to clean that up for yourself. And this was me cleaning it up for myself. And it actually taught me budgeting. And I still now, even though I'm well overdone with my plan, I still now factor in my payment as like part of savings for things. And like I've been able to save way more money than I ever thought I could like to just even be at the place where I could go, oh, you know, let me spend the day at the spa, you know, just to do things like that. I can. So this was a really great, great, great thing to do.
And I highly recommend it to people I know and I don't know.
Tara: I love that you talked about the importance of budgeting and I double love the fact that you have taken that payment amount that you were making to MMI and now you're saving it. That is sort of the ideal thing that we would tell people, if you can do it, do it, because it helps you boost that savings and achieve those goals you have even faster. My next question to you was going to be, what would you say the most important thing was that you learned throughout the process? But it sounds like maybe it was that budgeting piece, is that right?
Jade: Yes. And it's almost like I'm obsessed with it now. And I can look at so many different things and understand how that fits into the budget. And I'm very, very conscious of my money. I'm very mindful of it now versus, oh, when is this coming in? When is this like, I can see it clearly. And the fact that I can see it clearly, it allows it to come to me easier.
And I don't have to struggle as much.
Tara: Wonderful. It's interesting because it's one of those things, financial wellness and budgeting, it's one of those things that we should be talking about with our kids and our families and our schools. And it feels like we just don't. And so to have that mindset and change that mindset early is wonderful because you can make a change in your life and in the life of your family and those around you. And so it's a big, big deal. So I wanted to ask a question about the stigma around debt. Because we talked about budgeting, it's a topic that's not common, but it's probably the most important thing you learned on this journey.
I think debt is one of those things that's very common, especially around the pandemic, loss of income, inflation is high. Folks are just struggling. I think your story is very common and a lot of people can relate to it. Debt is one of those things that most of us have, yet few of us talk about. How do you think debt counseling nonprofits like MMI are working to break that stigma?
Jade: I think that once people start to see that it's almost everybody, like everybody, and even these successful business owners, that's how they're successful is debt. You have to understand what debt even is and reframe how you look at it. And even, you know, the process and, like, not being able to have a credit card per se allowed me to understand, like, the value of things and have a better relationship with debt, knowing, like, I literally have no way right now to have this large expense, you know, just because I want it. How do I make that happen for myself so that I can still get the thing that I need? And. And like I said, I am. You know, at the time I was self employed and I still am self employed, but since then I've opened another business.
Like I used the money that I had been saving to open another business. I'm self employed, so I still do the corporate massage and I do brand consulting and brand activation for wellness brands and things like that. So there's so much more opportunity now because I did have that debt and I'm more mindful of my debt now and I encourage people to just kind of be, just be transparent about it. Because once you're transparent about it, then it won't control you. It's when you keep hiding it and you keep pushing it down or not paying attention to it, then that slowly controls your life. And you shouldn't be controlled by a little plastic rectangle.
Tara: None of us should, but you're so right about it. You know, it is. It's almost freeing. It's like, okay, you know, we talk about it. Two things happen. One, you're not controlled by it, and two, you find out quickly how many people around you are like, oh, my gosh, I'm in the same situation. I had no idea how to bring it up.
So, I mean, it's, it's an important thing. It sounds like you have, in the last four or five years, not only taken control of your finances and paid off debt, but it sounds like you've made some big changes in your lifestyle. I mean, you've, you've opened another business, continued and boosted your savings. It sounds like you've made some big changes. And that's amazing. So my last question, probably my favorite question is, you did it. I mean, you were able to get rid of $20,000 in less than five years, which is incredible.
So what does being debt free mean for you? And so now that you are able to achieve that huge goal, what comes next for Jade?
Jade: The sky is the limit. It really is.
I have been able to see from the bottom of the bottom and thinking I would never have any way out to being able to just realize that there's always an option. And to me right now, like there is no such thing as dead because I have shattered that and I have the tools and the systems to make sure that I never go back there.
Tara: Wonderful. I love it. Sky's the limit. You have such an inspiring story and I loved talking to you today. Is there anything else that you'd like to share with folks?
Jade: Just do it. Just do it. Just don't be embarrassed.
There's worse things in life. You've had the toilet paper stuck to your foot, leaving the bathroom, everything else. Just do it and you will have a better life for it. Trust yourself.
Tara: Oh, trust yourself. That is excellent advice. Trust yourself and just do it. Well, Jade, I appreciate you so much and congratulations. Thank you for being a great client here and an advocate for us here at MMI. I appreciate you and I wish you the best of luck. Thank you so much for joining us.
Jade: Thank you for having me.
Tara: This guest is a real MMI client whose success is a result of hard work and dedication. While MMI cannot guarantee results, taking early action can increase available options and improve long-term outcomes. Thanks for listening to this episode of Long Story Short, brought to you by Money Management International. To learn more about our work and how we're helping people in all walks of life repay debt, balance their budget, and find lasting financial peace of mind, visit moneymanagement.org.
If you're struggling through your own debt story, we're here to help. We offer confidential counseling and powerful debt repayment tools to help take control of your finances. Learn more to see if our services are right for you.
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