“[A budget] is a behavioral modification. It’s like doing yoga for the first time. There’s pain and discomfort.”

How One Mint User is Crushing $11k in Debt in Just One Year

Aaron Hahn vividly remembers the moment he decided to crush his debt.

It happened in March, while visiting his retired aunt and uncle in Arizona.

Their home, with a lush, sprawling golf course as its backdrop, symbolized to him the power of hard work and consistent savings. Not to mention, this was their vacation home, a place where his “snowbird” aunt and uncle enjoyed visiting during the winter months.

“It was my ‘aha’ moment,” says Hahn, who, at the time, had about $42,000 in debt spread across student loans, a car loan and credit cards.  “I was like, ‘O.M.G. I want this life.’ I want to do what they’re doing. I want to be financially independent.”

Hahn had also just celebrated his 34th birthday, which served as another wake-up call. “It was a confluence of events…I realized that I just wasn’t taking care of money like I should be, like a grown-ass man,” says Hahn. “I feel like there’s an awakening when you’re in your 30’s.”

His first plan of attack: Obliterate his $11,000 in credit card debt. For Hahn, credit was just a tool to for buying stuff when you didn’t have the cash. “The credit card debt was just something I was misusing,” he admits. “It became another part of my spending arsenal. I used credit for more spending power.”

Since March Hahn, who works in the Navy, has embarked on a diligent plan to reach debt zero across his four credit cards. He’s given himself 12 months to eliminate all balances and has, for the first time ever, begun budgeting.  He’s using Mint to stay on track.

Will Hahn cross the finish line in time? I thought it would be interesting (and fun?) to check in from time to time to report on his progress and setbacks. He says he likes having me as an accountability partner.

Head on over to the Mint blog to see how Hahn’s staying focused and handling some setbacks in the first few months. We’ll check back with him in the fall.

you might like....

So Money

Mrs. Frugalwoods

Today, I’m excited to welcome back a former So Money guest, Liz Thames, also known as Mrs. Frugalwoods. I introduced you to Mrs. Frugalwoods, the blogger behind frugalwoods.com, way back in episode 239 when she was pursuing retirement, hoping to achieve financial independence by 33 years-old. She did it!

Listen Now
all episodes

So Money

Drs. Renée and Nii Darko

What would you do if you woke up with $662,000 of student loan debt? Yes, thats right. Well, that’s what happened to Drs. Renée and Nii Darko. After meeting in medical school and completing rigorous surgical residencies, Renée and Nii woke up to see their total debt balance had ballooned to the high six figures after years of deferment and forbearance.

Listen Now
all episodes

So Money

Ask Farnoosh

What advice do you have for a couple moving in together? Some expenses aren’t so black and white. What should I prioritize in 2018, career development or having a baby? Answering these questions of yours and more with co-host Adenrele ‘Addy’ Adewusi of MaddyMoney.com.

Listen Now
all episodes