Mint Money Audit 6 Month Check-In: Was Ken Able to Attack His Student Loans?
Back in December, I had the opportunity to review Ken’s financial profile. He’s an airline pilot who earns about $100,000 a year. At 36 years old, his main financial gripe is that he’s tired of carrying around his $45,000 student loan debt. (Can you blame him?)
With ample savings, my advice to Ken was transfer his $5,000 savings bond towards the student loans. After that, double the monthly minimum or $700. This plan would help him become debt free in about five years.
I also encouraged him to create some goals and apply his money towards investing in himself or for something fun. After all, he works hard and lives well below his means. Why not put some of that money towards an ambitious goal?
I caught up with Ken in between his time in the sky and he reports he’s taken a lot of the advice to practice. You can check out his full progress report over on the Mint blog. To check out his original Mint audit, click here.