@inspiredbudget: Welcome back to part 2 of our Real People Budget for a 31-year-old single woman living in Washington, DC! 🌆 She’s battling $34,816 in credit card debt, and in 6 months, her student loan payment will increase to about $800/month. 💸 She doesn't have an extra $800 right now, so her goal is to free up more money before that increase. Here’s her step-by-step plan: 1️⃣ Pay off credit card #2 ASAP to free up $184/month. Balance: $3,226. 2️⃣ Use her bonus for debt repayment. 3️⃣ Send her extra paycheck to debt. 🏠 Now, let’s talk about her high cost of living rent. Living alone in DC has made her happier than ever, so she chose to stay despite the high costs. But to continue this lifestyle, she NEEDS to eliminate her debt. By following these steps and being strategic with her extra income, she can free up the money needed to cover her increased student loan payments and work towards a debt-free future. ✨ Ready to write a budget that works? Get my 7-Day Money Makeover for free (linked in bio)! 🎉

Allison Baggerly

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Region: US

Thursday 24 July 2025 00:55:00 GMT