Pandemic House Woes to Debt-Free Triumph: Steve's $30k Payoff with MMI

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Long Story $hort

Money Management International (MMI)

51 episodes

1 week ago

From Money Management International - a podcast about debt that will make you feel a little less alone. We’re stripping away the shame and guilt around the debt conversation and replacing it with unique, personal, and inspiring stories from real people. We know the journey out of debt is individual and deeply personal. On each episode, we’ll attempt to make each guest’s financial history and future a Long Story… Short.

Self-Improvement

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Self-Improvement

Education

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Pandemic House Woes to Debt-Free Triumph: Steve's $30k Payoff with MMI

Long Story $hort

15 minutes 26 seconds

10 months ago

Pandemic House Woes to Debt-Free Triumph: Steve's $30k Payoff with MMI

In the midst of a pandemic, Steve jumped into homeownership. Then tried to fix it up, and furnish it, then the 30-year old HVAC unit went out.

Thinking it would take 20 years to get out of this new consumer debt, he contacted MMI - and it in just over 2 years!

Listen to Steve's story about:

(00:00) Buying a home during chaotic times and using credit for quick renovations.

(03:43) Becoming overwhelmed and exploiting options like debt consolidation, which harms credit but reduces payments

(08:41) Budgeting in an ongoing process and adjusting expenses regularly to manage high costs effectively.

(10:39) Learning how MMI educates on personal finance to promote debt-free living, improving financial literacy not taught in schools.

(13:14) Paying out of pocket for his final semester - and dreaming of better living and freedom