Let's talk personal finance: Ricardo and Halisi
Today’s personal finance story is about a Denver couple. Ricardo is 67 and his wife Halisi is 58. Six years ago they had $25,000 in credit card debt and less than $50,000 in retirement savings. So this is a red flag. This is not a situation you want to be in at any age.
The issue here is excessive spending. The couple were spending $1,000 a month on eating out. That sounds like a lot, and it is, but you figure $250 a week. If you are eating out, just one meal a day, most days of the week, $35 a day on average for two people sounds about right. At that rate, you rack up $1,000 a month.
The couple checks their credit cards and surprise surprise, they are spending more money than they are making.
The solution for them was to eat out less, track their spending, and start savings up to 60% of their income. In six years, they paid off all the credit card debt, and increased their retirement savings to $300,000. This is simply amazing and is a feel good story that shows that you can turn your life and spending habits around.
Works Cited:
https://www.wsj.com/articles/heres-what-retirement-looks-like-for-americans-abroad-e2ee4294?mod=hp_lead_pos8
Tags:
personal finance, personal finance tips, budget, how to budget, personal finance 101, personal finance management, finance, personal finance dashboard, how to budget and save money, finance tracker, personal budget, personal finance basics, excel personal budget, personal finance budget, monthly budget, finances, personal finance for beginners, how to budget money, m1 finance, personal finance for high school students, how to budget your money
-
3:29
The Last Capitalist in Chicago
1 year ago $0.06 earnedAmericans are spending like there is no tomorrow
1971 -
LIVE
Donald Trump Jr.
5 hours agoBehind the Scenes at the World’s Most Famous MAGA Rally | TRIGGERED Ep.185
3,565 watching -
34:54
Stephen Gardner
1 hour ago🔥Kamala Harris JUST Pissed Off 79 Million Americans!
1.06K15 -
54:39
The Rubin Report
2 hours agoJoe Rogan & Trump Rant About Why This Industry Is Almost Dead
21.7K27 -
44:52
Kimberly Guilfoyle
5 hours agoMAGA Square Garden: What was Your Favorite Moment? | Ep. 169
26K15 -
LIVE
Drew Hernandez
2 hours agoTRUMP RALLY ATL & WOKE OUTRAGE OVER JOKES
1,036 watching -
1:45:10
Redacted News
3 hours agoBREAKING! DEEP STATE PLANNING MARTIAL LAW IF TRUMP WINS ELECTION | Redacted with Clayton Morris
67.8K214 -
1:02:16
In The Litter Box w/ Jewels & Catturd
20 hours agoMSG: Greatest Rally Ever | In the Litter Box w/ Jewels & Catturd – Ep. 678 – 10/28/2024
49.7K48 -
2:25:06
The Quartering
7 hours agoMSM Meltdown Over Trump Rally, Kamala's Crowd Turns On Her & Tommy Robinson Jailed!
94.8K116 -
1:27:38
Russell Brand
7 hours agoREACTION: Trump’s PACKED Madison Square Garden Rally + Rogan Interview BREAKS THE INTERNET - SF479
181K364