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EPISODE 42 - FINANCIAL QUEST (Adrienne and Graig)

NAME: Adrienne and Graig
AGES: 37 and 31
ANNUAL INCOME: $102,000+
DEBT ACCUMULATED: $23,000+

GOAL: To buy a home

Adrienne and Graig are newly married and hope to settle into a home of their own, but Graig’s $23,000 plus of consumer debt and costly love for pop culture has thrown a wrench into their plans.

Alison's Plan

In order to meet their goals of home ownership these two needed a plan.

  • In order to meet their goals of home ownership these two needed a plan. First, I told them they had to balance the books. I challenged them to cut $1,231 a month from entertainment and cash withdrawals.
  • Next, I suggested they examine their investments. I wanted them to be sure their holdings were appropriate for their short-term house buying goals.
  • Then I told them to evaluate and sell. I urged them to determine the value of their pop culture inventory and start selling.
  • Finally I said restructure the debt. Join forces and put $2,775 a month on Graig’s debt to pay it off in 9 months.

OUTCOME

Adrienne and Graig took my advice and teamed up to achieve their goals. They’ve cut monthly expenses by $1,300 and restructured their debt payments, which means balanced books and no more shortfall. They put their pop culture collection on the market, modified their investments to meet their short-term goals and joined their finances to eliminate Graig’s debt. This couple is well on the way to a place they can call their own.

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