How to Get Out Of Debt After Making "Every Money Mistake"
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- Опубликовано: 9 июл 2024
- How to get out of debt after every money mistake? This is the question Melissa Yi was asking herself when she found the BiggerPockets Money Show. She had taken out student loans and car loans, she had credit card debt, and she couldn’t even afford the security deposit on the new home she was moving into. Something had to change.
She started budgeting and tracked EVERY DOLLAR that came out of her pocket. She sold what she could, started bringing in side income streams, and stopped eating out. These small changes allowed her to slowly pay off her debt and get to a positive net worth. Now, she’s at the $100k+ point and slowly coasting her way to financial independence!
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Episode 211
Show notes at: www.biggerpockets.com/moneysh...
00:00 Intro
03:14 Welcome Melissa
13:22 College
17:17 Student Loans and Credit Cards
25:00 Creating Side Income Streams
33:21 Finding the BiggerPockets Money Show
39:11 Wealth or Convenience
44:59 Buying Her Live in Flip
51:44 Net Worth Updates
1:03:25 Famous 4
1:10:54 Melissa's Big Money Story
I love this. I realised that everyone can make these mistake so I don't have to feel bad that I have made money mistakes. For some of them I did not know any better
My wedding as $1k. 4 guests on a sail boat. It was beautiful and we had everything paid before the ring, thr license, everything we are still married 7+ years and my friends with big weddings they are not all still married or still paying...sad.
YESSSS MELISSA GET IT GIRL!!! THIS IS AMAZINGGGG!
EXCELLENT episode! Such an inspiration.
Brilliant and honest story......what a smart lady, turning her financial life around thanks to the great help given to her by you guys.
I absolutely LOVED this podcast 👏 ❤
Niiiiice!!! Thank you for sharing ❤️
Very awesome. Thank you.
Then these changes take time because for years u have had a different financial system that even when we get the head knowledge it takes a while to go to our hearts and our actions.
So I no one is a bad person for having these situations
But now we know better she intentionally worked aggressively and we can do the same.
Great story I like it! Just doing the grind and working hard.
I love her story. Great job.
Great guest, great show.
You look stronger to the bank having a 20% down payment. And your realtor feels confident that you can close on the house and they will actually get paid. So of course your realtor would like you to have that 20%
I agree except for our business used priime because shipping on dome items ate higher than the item shipping had gotten so expensive
Very good interview! Where can I fid the podcasts she referred to (the first ten). thanks.
I think a goal helps
Walmart has the same system
Melissa is the same age as me.
How was that first house sale tax free?
Because it was the primary residence for at least 2 years.
IRS 121 rule. Up to 250k gains tax free. (500 for a couple)
What in the world was going on with her light?