At 37, Paula is more than $60,000 in debt, and that's not including a mortgage for a plot of land.
- $11,200 in student loans
- $17,400 left on a $25,000 personal loan
- $16,500 on her credit card
- $16,500 on a line of credit
#MillennialMoney
thestar.com/business/perso…
- $11,200 in student loans
- $17,400 left on a $25,000 personal loan
- $16,500 on her credit card
- $16,500 on a line of credit
#MillennialMoney
thestar.com/business/perso…
How did it get so bad? Paula says she doesn't think she's a big spender. Her last big purchase was $76,000 plot of land in the country, which she was planning to build a house on.
Making $92,000 in tech, we take a look at her monthly finances. thestar.com/business/perso…
Making $92,000 in tech, we take a look at her monthly finances. thestar.com/business/perso…
Now, she's faced with a strange predicament. Because of the pandemic, her plans of living in the country with a house built on the land are out of reach with her insane debt. Currently, she's renting a spot nearby her land, but still paying her mortgage. thestar.com/business/perso…
Should she instead sell that plot of land to pay off her looming debt?
“It’s awful. I’m so ashamed of all this," she said. thestar.com/business/perso…
“It’s awful. I’m so ashamed of all this," she said. thestar.com/business/perso…
"$61,000 of non-mortgage debt is quite a bit. Her carrying costs are about $1,000 per month and about 20 per cent of her take-home pay," expert @JasonHeathCFP said.
More on his advice on paying off huge debt: thestar.com/business/perso…
More on his advice on paying off huge debt: thestar.com/business/perso…
This B.C. tech worker is $60,000 in debt and paying mortgage for a plot of land. How can she get out of debt?
thestar.com/business/perso…
thestar.com/business/perso…
Are you struggling with finances and looking for advice? Write us at ekwong(@)thestar(.)ca for a chance to be part of #MillennialMoney thestar.com/business/perso…
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