September 19, 2019

Coming Back from the Brink of Financial Destruction

“Millions of Americans live paycheck to paycheck, with very little room to survive missed paychecks or sudden financial hardship. In fact, 4 in 10 Americans say they would not be able to cover a $400 unplanned expense without racking up credit card debt, according to a 2018 report by the Federal Reserve. According to Nerd Wallet, about half of households reportedly carry credit card balances of nearly $7,000 from month to month; across the U.S., that amounts to about $944 billion in outstanding credit card debt. When that’s combined with things like home, car, and student loans, the the total personal debt for Americans comes to an astonishing $13.5 trillion.

So when you find yourself financially adrift or deep in the red, how do you begin to pull yourself out?

We talked to three people about how they did it, whether it meant becoming more financially responsible or making drastic lifestyle changes.”

Read more

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