Phil's Personal Finance Tip of the Day:
How We Got Out of $50,000 Worth of Debt
By Farnoosh Torabi | Yahoo! Finance
It’s taken 12 months for newlyweds Angela and Ted Jalad to go back to enjoying even the smallest of life’s splurges. Today they celebrate, as the California couple has erased a staggering $50,000 worth of debt in just one year’s time.
“We had just gotten married and we had all these bills. And so I thought to myself this isn’t a good way to start a new life together. And we realized we didn’t want to keep working our butts off just to keep paying off this debt,” says Angela.
Here’s the breakdown: As of January 2012, the couple had two personal loans consisting of consolidated credit card and student loan debt worth $15,000 each, plus a $20,000 car loan for a grand total of $50,000, close to the average annual income in America.
“We had just gotten married and we had all these bills. And so I thought to myself this isn’t a good way to start a new life together. And we realized we didn’t want to keep working our butts off just to keep paying off this debt,” says Angela.
Here’s the breakdown: As of January 2012, the couple had two personal loans consisting of consolidated credit card and student loan debt worth $15,000 each, plus a $20,000 car loan for a grand total of $50,000, close to the average annual income in America.
To read the entire article from Farnoosh Torabi | Yahoo! Finance:
Inspirational Quotes@Inspire_Us from Twitter:
A life is not important except in the impact it has on other lives. -Jackie Robinson
A life is not important except in the impact it has on other lives. -Jackie Robinson
Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.
No comments:
Post a Comment