$36k in Debt and Only Makes $3k per Month | Millennial Real Life Budget Review Ep. 24

Join me in transforming a Buffalo-based bank analyst's financial life! In this Millennial Real Life Budget Review episode, witness the journey to pay down $36,000 in debt, build a solid emergency fund, and save for a new car – all on a monthly take-home pay of $3,000. Get budgeting insights, debt payoff strategies, and actionable tips to achieve financial confidence. Don't miss the opportunity to learn and level up your financial game! 💰🚗 #BudgetReview #DebtFreeJourney #financialtransformation

Chapters:
0:00 Intro
1:45 Budget
3:49 Debt
4:11 Best High Yield Savings Accounts in 2024!

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📝CHECK OUT THE SPEND MORE DEBT LESS WORKBOOK

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💌 READY TO BUDGET?

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🌟 My favorite money-saving app: FETCH REWARDS

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My favorite FREE car insurance quote comparison tool:
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[electricpenguin]

I would highly recommend calling the hospital and asking them to reduce the bill. Often times just asking them will help, or they’ll have you fill out a financial aid form and this persons income likely would qualify for some forgiveness there.

[Churchillhump]

I can relate; my debt has been a burden too. Investing seems like a distant dream with limited income

[jharvs]

This is fantastic! Thank you so much for going through these realistic budgets! Its so easy to want to do the avalanche method but the snowball really kicks it into gear, I appreciate you showing the difference!

[Kimbopolo]

You're more generous in your assessment than I would be. No Amazon Prime until the debt is gone, ditto the monthly massage. Slash the personal spending, gifts, and phone bill. Put some of the emergency fund towards debt now. These moves will only be necessary for a few years. Of course, these steps will only work if they are not continuing to use the credit card.

[fatimamills]

Buffalo NY is my home town. Good luck with her new journey.

[gabrieliacoboni]

I never feel like I can live up to others financially even though my wife and I are worth $700, 000K in net assets (everything) but I never feel like it is enough. Then I look at these videos and feel calmer.

[jaredgates]

I would probably spend down some of the emergency fund to pay off debt faster, especially the HELOC and that credit card debt. That would still leave you $12k for emergencies which is over 7 months of expenses. It doesn't really make sense to have more than 6 months of expenses saved when your debt is at higher interest rates than a high yield sabings can make.

[bugtracker]

$500 for a rent or mortgage? Wow! $1500 - $2000 is probably more realistic average across the US.

[GeoffrytheButler]

Buffalo! Maybe I'll show this to my hubby (we're both native-ish to Buffalo) to show him we can actually survive there. He thinks it's too costly (as we live in NYC 🙄)

[nyladugle]

Hello! I’m 25 years old and I’ve been watching your videos for about a week. I requested to follow your Facebook page and I bought your budget workbook hoping that the template spreadsheet would be in it but I can’t find it. Am I too young to start following this Facebook page and start investing?

[billspencer]

One man's debt is another man's asset.
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Got gold ?

[Regulus]

This is why people shouldn’t give financial advice. You listed loans 2 and 3 on top YET YOU SAID YOURSELF INTEREST RATES WERE PAYING Omg. Just stop. Please seek a professional and dont lose money. Be smart, I apologize for attacking the youtuber but this is bad advice….-Tax Cpa

Use your emergency fund to pay the heloc. Then use the fund to pay the capital one right before the no interest stops. Then start wage paying the fed 1 till paid, then the fed 4 or fed 4 but if interest rates stay at 5 percent for savings slow pay it. If the hospital bill starts charging interest over 3.5, pay it . Cheers and good luck