Posted 2/26/2024, 11:13:00 AM
Woman Struggles with High Debt and Low Income
- Woman has $11,000 in student loans and high spending, but only makes $480 per month from gig work
- Her monthly expenses are 300% higher than her income, so she can't afford loan payments
- She admits the student loans funded her lifestyle, not education; spent loan money on things like laser hair removal
- Financial advisor says she needs to work more hours and stop unnecessary borrowing/spending
- To get back on track, she likely needs to work 50 hours per week at minimum wage to cover expenses and debt