Meet Coach Cliff
Age: 25
Salary: $40,000
Employment: Teacher/Coach
Savings and Investments:
- Savings Balance = $10,000
- Checking Balance = $7,000
Debt:
- $54,000 student loans
Coach Cliff’s main concerns, in his words
I graduated college three years ago with over 50k in student loans. I’m a teacher, and gross close to 40k a year and net just shy of 2k a month. I pay over a 1/4 of my net monthly income on student loan payments. I’m trying to figure out the best way to manage my finances. I don’t have the money to avalanche my student loans while maintaining my lifestyle. I am also debating getting my masters to increase my net income. It’s a constant concern for me.
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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.