Income: $6,700/net monthly
- $5,000 credit card debt
- $2,500 medical bills
- $25,000 car loan
Mitzi’s main concerns, in her words
My husband and I are attempting to make the switch from paying for everything with credit cards and paying them off monthly to using all cash. We are also attempting to adhere to a real budget for the first time in seven years of marriage. We currently have $5000.00 in credit card debt, $2500.00 in medical bills, $25,000.00 car loan, $175,000.00 mortgage, and a rental property mortgage for $205,000.00. We also have frequent discussions regarding maintaining or selling the rental property.
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.
3 thoughts on “Episode 5: Mitzi”
I like these examples, I just want some different income levels. It feels like all the examples are making $100k and the median income for a household in Indianapolis is $52k.
Don’t worry, they’re coming!! Next week our guest makes $40k.
How about 30k or less, now that’s budgeting!