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EPISODE 47 - Debt Sick (Christine and Ross)

NAMES: Christine and Ross
AGES: 30 and 40
ANNUAL INCOME: $66,000
DEBT ACCUMULATED: $78,781

GOAL: A family and a home

Christine and Ross wanted to start a family and buy a home, but they were trapped in a vicious financial cycle. Their debt was a roadblock, affecting Christine’s health and their dreams for the future.

Alison's Plan

Kim and Kevin were on the brink of financial and marital collapse. I gave them a drastic plan.

  • Balance the Books and cut $834 out of their monthly expenses
  • Simplify your Banking Christine and Ross’s 14 accounts were unmanageable. I told them to condense their accounts to one checking, and one savings account, and suggested they seek out lower interest rates for their debt.
  • Dust off the Resumes Ross’s weekly commute and Christine’s three low paying jobs only served to crank up the volume on their stress.
  • Get out of the House While they were home fretting about their finances they were missing out on life.

OUTCOME

Things have taken a turn to the positive for Christine and Ross. They’ve cut down on monthly spending by more than $800. They’ve simplified their banking, have transferred their high interest debt and are on the hunt for better jobs. They’re even getting out of the house. With financial stress reduced they’ll soon be on their way to the home and family they long for.

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