It was only a few years ago when Spokane Valley resident Kumiko Love overcame thousands of dollars in debt from student loans and credit card bills.
As a divorced-single mom making $24,000 a year, Love’s defining moment to change her financial habits occurred after she paid for her son’s $1.09 ice cream cone with a credit card at a McDonald’s drive-thru.
In 2016, she founded The Budget Mom blog to document her financial journey and eliminated more than $77,000 in debt by creating a “budget-by-paycheck” method.
The Budget Mom grew into a large community with millions of social media followers and a business that provides others with resources to tackle debt, track expenses and create budgets.
Love, an accredited financial counselor who went from residing and operating The Budget Mom from her Spokane Valley apartment to living debt-free in her dream home that she paid for in cash, is now looking to further expand her reach of helping others achieve financial freedom.
Love is releasing personal finance how-to book “My Money My Way: Taking Back Control of Your Financial Life” Feb. 1 via New York-based Penguin Random House, one of the world’s largest book publishers.
Love is scheduled to appear on Good Morning America on Monday to discuss the book. She previously shared budgeting advice on Good Morning America in 2019, in addition to appearing on the Today show, CNN and Inside Edition.
“All this content I’ve put out into the world that’s sporadically on YouTube, Instagram, all these different places – it really is all in this book,” Love said. “I even go into things that I don’t talk about very often such as retirement, investing, debt payoff, saving and my budget-by-paycheck method.”
“This is not just a budgeting book, this is an overall financial plan foundation that you are able to build yourself after reading this book,” she added.
The book provides readers with a step-by-step plan to take control over their finances regardless of debt or income level.
Through stories of navigating divorce, recessions, evictions, layoffs and more, readers will learn how to use emotions to their financial advantage, create a budget based on real-life scenarios and launch a motivating debt payoff plan.
Love said her decision to write the book was prompted by The Budget Mom community.
She began writing the book during the pandemic, shortly after opening The Budget Mom headquarters at 414 N. Julia St. in Spokane.
It look about eight months to write the book, a process that Love describes as “one of the most challenging but rewarding things she’s ever done.”
“With The Budget Mom, I’ve always had this …….