Friday, December 4, 2009

Pay Off Debt In 10 Steps And 5 Years



Pay Off $50k In Debt On A $20k Salary In 10 Steps And 5 Years - The Consumerist:
This 30-year old receptionist and single mother of 3 climbed out of a $50,000 debt hole in 5 years using these 10 steps.
Broke and $50k in debt, Noemi Wikstrom, who had become a single mother at 19 living in Puerto Rico with no child support and working for minimum wage as a secretary, sent her three kids to live with relatives. She enlisted in the Air Force but was still behind. Desperate, she turned to payday loans, which only made matters worse. Finally, she got real and started on her path to a debt-free life."

I posted this article for two reasons -
The first was so that you could pass it on to someone that you know who is just starting out, and could benefit from some sage advice about money.
Secondly I thought that as a Boomer you would find the comments, at the end of the short article, very interesting. It gives a good insight as to how different people look at money and finances. Some people are critical of Ms. Wikstrom, others support her resolve. Even at our age you can learn new perspectives about how people think

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