Overcoming Financial Adversity: Josette’s Journey from Bankruptcy to Empowerment

1. Tell us a little bit about yourself?

Josette:
I grew up in a small town in Connecticut, but I hate the cold. Once I graduated from college, a friend mentioned an opportunity in the DC area, and I thought, why not? I didn’t have much going on in Connecticut, so I made the leap. A few years later, I met what I thought was Prince Charming. We got married, but after six years, things fell apart, leading to divorce and even bankruptcy. It was a tough period, but I worked hard to rebuild my life.

2. How did you overcome the challenges of bankruptcy?

Josette:
It was a nightmare at first. Bankruptcy ruined my credit score, made it hard to get an apartment, and utilities were a challenge. But after years of hard work and perseverance, I started to make traction again. Bankruptcy stays on your credit report for 10 years, so it was a long journey, but thankfully, I had a good job to help me get through.

3. What inspired you to become a coach for women in financial distress?

Josette:
As I climbed out of my own struggles, I realized my story wasn’t so different from many other women. When I read a 2019 study showing that 16% of women over 65 live at or below the poverty line, I was shocked. It felt unacceptable, and I wanted to find ways to help women in similar situations. Many of them weren’t being served, and I wanted to change that.

4. How long have you been advocating for women’s financial literacy?

Josette:
I’ve been thinking about and working on this for about 15-18 years. But it became more urgent after I saw that study in 2019. When COVID hit, I knew the problem had likely worsened, as so many people lost jobs or had their income reduced. The pandemic highlighted how precarious financial stability is for many.

5. What are some of the barriers women face when it comes to financial literacy?

Josette:
It’s not taught in schools, and many families don’t know how to manage money. Financial struggles often pass down through generations. Women might also avoid finances due to negative experiences, like being embarrassed in a math class. When they think about finances, the first thing they see is a budget—a row of numbers—which can feel overwhelming.

6. What steps can women take to start their financial journey?

Josette:
Start small. If you don’t have access to a 401k at work, find other ways to save. Seek out financial literacy resources and don’t let fear stop you. Recognize that managing money is a skill, and it’s okay to learn it at any age.

7: How did your journey toward financial coaching begin?

Josette:
After a challenging divorce and bankruptcy, I struggled for years to rebuild my life. Over time, I not only regained stability but also recognized that my story was not unique. Many women face financial crises, yet resources to empower them are scarce. That realization led me to start helping women navigate their financial lives and eventually inspired my coaching journey.

8: What statistic prompted you to focus on empowering women financially?

Josette:
A 2019 study revealed that 16% of women over 65 live at or below the poverty line—a shocking number. It stayed with me, and I wanted to ensure fewer women end up in that situation. Women deserve to understand finances and take control of their futures.

9: How has society shaped women’s financial roles, and what challenges do they face?

Josette:
Many women grow up seeing their fathers manage the money or hearing outdated advice like, “Don’t worry about finances; that’s what a man is for.” This mindset leaves women unprepared, especially in life-changing situations like divorce or the death of a spouse. Financial management isn’t taught in schools, and generational struggles with money often perpetuate the cycle.

10: When did you decide to transition your coaching from a part-time passion to a full-time mission?

Josette:
About a year and a half ago, I realized I could continue working a corporate job or dedicate my next stage of life to making a real impact. The decision to focus on coaching came from my desire to reduce that alarming 16% statistic and empower women to achieve financial independence.

11: Have you faced any fears or challenges in building your coaching business?

Josette:
Absolutely! Starting a business was entirely new to me, and I wondered if people would value what I offered. But I leaned on the positive feedback I’d received, including over 350 positive Amazon reviews for my book. Step by step, I overcame initial fears, found support through a coaching foundation, and gradually built my business.

12: Can you tell us more about the book you wrote?

Josette:
The book is titled The Woman’s Guide to Money Freedom: Saving, Investing, and Building Wealth for Beginners. It’s structured as two books in one: a step-by-step workbook and a narrative about a fictional character, Miranda, based on my experiences and clients’. Readers can choose what resonates with them—practical steps or storytelling.

13: How do you address the psychology of money in your coaching?

Josette:
A lot of financial struggles stem from mindset and fears. Many women avoid finances because of past experiences, like being criticized in math class or feeling overwhelmed by budgeting. My approach helps clients unpack those fears and build confidence through practical steps and relatable stories.

14: What would you say to women hesitant about taking control of their finances?

Josette:
Don’t bury your head in the sand. Life is unpredictable, and understanding finances isn’t just about numbers—it’s about your security and independence. Start small, seek guidance, and remember, it’s never too late to learn and take control.

15: How do you help someone break free from financial limitations?

Josette:
As part of my 12-month program, I emphasize the importance of mindset. I run monthly webinars called Unlock Your Wealth Mindset because without the right mindset, no amount of books or training will help. Many people have an internal “set point,” like a thermostat, that limits them financially. For example, if you subconsciously believe you shouldn’t have more than $10,000 in the bank, emergencies will always arise to bring your balance back down. My program focuses on identifying and overcoming these mental blocks while offering group support and personalized one-on-one sessions.

16: How has managing finances changed your own life?

Josette:
It’s made me more aware of my spending habits. For example, I used to buy Starbucks coffee regularly without thinking about the cost. Now, I’ll buy Starbucks coffee grounds and make it at home—getting 20 cups for the price of one barista-made coffee. Tracking my expenses and being mindful of where my money goes has been transformative. It’s not about deprivation but about making conscious choices. This shift helped me escape living paycheck to paycheck and gave me the freedom to plan ahead.

17: Do you feel restricted by budgeting and financial planning?

Josette:
Not at all—it’s freeing! Before, I constantly wondered where my money went, but now I know exactly how I’m spending it. Simple actions like brown-bagging my lunch a few days a week or tracking expenses made a huge difference. Surprisingly, this inspired coworkers to adopt similar habits, and many realized they could save for their dreams, like a new car. Financial clarity isn’t restrictive; it’s empowering.

18: What are some simple strategies for better financial management?

Josette:

1. Track Expenses: Keep receipts or jot down your purchases to understand where your money is going. It’s often the little, unconscious expenditures that add up.
2. Start a Budget: Even if you dislike numbers, knowing your income and spending patterns is crucial.
3. Leverage Workplace Benefits: If your employer offers a 401(k) with matching contributions, invest at least 1-2% of your salary. You won’t notice much difference in your paycheck because it’s pre-tax, but the long-term growth is significant.

19: How does contributing to a 401(k) benefit someone living paycheck to paycheck?

Josette:
If you start with 1-2% of your salary, you likely won’t feel the difference because that amount would’ve gone to taxes anyway. Over time, this small step grows into a substantial retirement fund. It’s a way to save for the future without impacting your day-to-day finances. This strategy can be life-changing, even for those who feel financially stretched.

20: How does your 12-month program stand out?

Josette:
It’s a mix of group learning and personalized support. Participants benefit from a community where they can share challenges and solutions, plus one-on-one sessions tailored to their specific needs. The program tackles both the emotional and practical sides of money management, making it comprehensive and transformative.

21: How many content pillars are in your program?

Josette:
There are three content pillars:

1. Financial Basics: Covers the first three months, focusing on understanding financial terminology, creating long-term plans, and setting goals.
2. Advanced Techniques: Includes reducing tax bills and possibly starting a business. It’s more group-driven based on participant needs.
3. Building the Plan: Puts everything together, including quarterly, semi-annual, and annual reviews, ensuring participants leave with a clear roadmap.

22. What happens if someone gets off track while following the program?

Josette:
Participants have monthly one-on-one sessions with Josette to address issues and get back on track. These sessions allow for personalized guidance, especially if someone missed a lesson, misunderstood a concept, or faced life challenges. Additionally, all lessons are recorded, so participants can review them anytime.

23: What is the core philosophy behind your program?

Josette:
The core philosophy is that any woman can successfully manage and grow her money. Most women haven’t been taught these skills, so the program provides the framework and knowledge to empower them to do so confidently.

24: How does your program differentiate itself from others?

Josette:
Unlike many programs, Josette’s approach is heart-centered and nonjudgmental. She treats participants as intelligent individuals who haven’t had the chance to learn financial skills, instead of assuming they’re ignorant. She emphasizes understanding participants’ unique situations and providing tailored advice.

25: What’s one thing someone can do right now to take control of their finances?

Josette:
Examine your credit card usage. Determine if you’re spending consciously or relying on it to make ends meet. Ideally, use credit cards only for emergencies or large purchases, and consider using a debit card for daily expenses to avoid overspending.

26: What if someone is reliant on their credit card and can’t stop using it immediately?

Josette:
The program includes strategies to help participants gradually move away from credit card reliance by focusing on better budgeting and financial habits.

27: How can someone learn more about your program?

Josette:
The easiest way is to visit Josette’s Facebook page (Josette Mandela) and send a direct message to set up a call to discuss the program.

28: What’s the name of your book, and where can it be purchased?

Josette:
The book is titled:

“A Woman’s Guide to Money Freedom: Saving, Investing, and Building Wealth for Beginners.”

It’s available on Amazon and Barnes & Noble.