How Arnita Johnson, who had 25 credit card debt, became a business owner worth millions

In life, his experience could inspire him to start a business. For example, Jeff Austin was inspired to start Jeff Herbal because of his own experience with obesity. In 2017, Austin was not only sick but overweight and had a toxic mindset. He took eight different pharmaceutical drugs every day. He changed his lifestyle when he watched the award-winning documentary titled What the Health on Netflix.

Similarly, entrepreneur Tania Speaks launched organic skincare brand Tania Speaks Organic Skincare after being bullied by her peers for her bushy eyebrows. Later, she tried to cut her eyebrows but ended up cutting herself and was sent to the hospital. Years later, she turned her traumatic experience into a startup.

Arnita Johnson’s experience is no different from the experiences of the entrepreneurs highlighted above. Her experience living from one government-assisted program to another led her to start a credit counseling agency.

She started Luxurious CREDIT™, a credit counseling agency and financial education empire after she grew tired of living from credit to credit. Today, his business is considered one of the fastest growing black-owned credit counseling companies in the country.

Johnson graduated with good credit, but six months after graduation, she screwed it all up. She had accumulated 25 different credit cards and couldn’t keep up with the payments.

“When you have good credit, credit card offers are literally thrown at you and I think I got addicted to just getting approved. I was working a low paying job and just couldn’t cope. to payments, XONschool quoted her as saying.

“I gave up credit cards believing the myth that after seven years those credit cards would disappear from my credit report. I was 18 and thought that in seven years I would be 25 and that I could live with my bad credit.

Although she desperately wanted to keep her credit cards in order, she had a baby and she was just trying to make do with what she had. She worked long hours in low-paying jobs and went to school at night to survive.

Later, she saw a job offer that offered an annual salary of $60,000, but she lost it due to her poor credit score. However, she was lucky enough to land a job at a car dealership and while there, she saw the difference between how people were treated with bad credit and those with good credit.

It prompted Johnson to pause and rethink how she uses her money. She created a “strategic budget” and also lived below her means. Using this strategy, she was able to pay off her debts and ensured that every dollar spent matched her financial plans. Eventually, it became his habit.

“It took a major shift in my priorities and I took up other hobbies. Instead of hanging out with the girls on Friday nights, I bought a cheap bottle of wine and snuggled up with a good book. Instead of taking the kids to movies and pizza, we watched movies on Netflix and made homemade pizza. I soon realized that I was also saving on gas because I was staying home more.

Saving as much as she could became her next target and she managed to develop the habit of saving in no time. According to her, she got to this point in her life through self-motivation and discipline.

“Because I was living paycheck to paycheck and taking extra money to pay off my debts, I found it difficult to save extra money. I was very impatient and felt that the little money I was handing over was just not enough. I decided to turn off my cable, shop around for cheaper car insurance and cell phone plans. The extra money I saved each month went straight into a savings account. Starting to see my savings account grow bit by bit has been very therapeutic and exciting for me,” she said.

And by investing in his credit education, Johnson was able to lift himself out of poverty. She then decided to create her business in order to teach others how she went about settling her debts.

Comments are closed.