Staring down any amount of debt can feel overwhelming. But when it’s in the six figures, it can be hard to imagine even getting back to zero, much less building up your savings, too.
If you’re looking at a mountain of debt, let these stories inspire you. The three couples below not only paid down six figures of debt, but now have a net worth in the six figures. Here’s how they did it.
For a record six years in a row, RV sales have increased — and it's largely thanks to millennials. But what’s even more surprising is they’re not just using these vehicles for camping. They’re using them as a way to live an “affordable, mobile lifestyle,” CBS News reports.
Due to a combination of factors — remote work, stagnant wages and social media-fueled wanderlust — millennials are looking for alternatives to typical housing arrangements, and RVs are just the start.
Amanda Gorman of Baltimore didn’t set out to start a business in 2017. She definitely didn’t plan to pitch a new company to venture capitalists at BetaCity, one of the biggest entrepreneurial events in Maryland. But due to some spontaneous women’s networking, that’s exactly what has happened.
“It all started with a Baltimore Facebook support group for mothers who are also business leaders called “Mobtown Mommies: Lady Bosses,” Gorman explains with a laugh.
In 2013, I moved to Los Angeles to finish my last two years of college. With just two part-time jobs and a modest writing side gig, I knew there was only one way I could make it in one of America’s most expensive cities—especially since I knew I’d have student loans to pay off once I graduated: extreme frugality.
The morning after our wedding, my better half and I bid our guests farewell over brunch and left for our honeymoon in Hawaii. When we arrived at the Fairmount Kea Lani hotel in Maui, seven hours later, we found we had been upgraded to the luxury suite with a deluxe ocean view. My spouse and I exchanged a look of conspiratorial glee as I whispered: I can’t believe this is all free!
Had we won the lottery? No, I had booked $6,000 worth of luxury hotel stays for $635, all by using credit card rewards.
If you’re tired of sending Venmo requests to your significant other and tracking who will pay for dinner, you’re not alone. With half of millennials combining finances with partners before marriage, it’s clear that many don’t wait to combine money until after they tie the knot.
But, even though it might seem easy to open a joint account with your boo, it’s not a decision that should be taken lightly. In fact, when deciding what banking options are best for you and your significant other, it’s...
Buying a home is simple — at least according to popular reality TV shows on channels like HGTV. The first bid on a property is always accepted and renovations rarely extend past the estimated timeline. Plus, everyone hugs at the end!
Of course, the truth is smooth financial transactions are the exception and not the norm when it comes to buying a home. To illustrate how the whole process can actually play out, three millennial homeowners, who have recently went through their house hunts, share what the process was really like.
When I first heard about the big Equifax hack back in September, I didn’t understand what had happened exactly. What was Equifax? Why was the breach such a big deal? And just how worried should I be?
Given all these questions, my first step involved research. Here’s what I learned:
I made the decision to live on 50% of my income for two reasons: I wanted to pay off my student loans as fast as possible and I was tired of feeling broke. I had just started my first full-time job as a digital strategist at a local university. Before that, I was paying my way through college by working three part-time jobs. I knew what it was like to be broke and I never wanted to feel that way again, so I set a goal to save half of my new paycheck.
There’s no denying that saving money can feel like hard work at times: It requires a long-term mindset and at least a few short-term sacrifices. Yet these three make hitting $100,000 net worth by 25 look easy.
This was the first time I had ever been in a serious car accident and I had no idea what to expect. Well, here’s exactly what happened, how much it cost and how it impacted our car insurance policy rates.
When is the last time you calculated your net worth? If you’re like many Americans, the answer may be “never.” But with 1 in 7 Americans having a negative net worth, it’s time for that to change. Luckily, the first step is simple: do the math.
With healthcare costs spiraling out of control, more and more Americans are struggling to afford the medical services they need. This is especially true for millennials who are saddled with an average of $21,000 of debt. Yet, even with an average cost of $150 per therapy session, many feel this is a necessary investment.
Going to college is an expensive endeavor. From paying for tuition to buying books to forking over rent checks to paying health care fees, there’s a seemingly endless barrage of money due, and student loans are often the necessary answer.