C’mon, Good Morning America and Yahoo!
What the f*%$ is this— Couple shares how they wiped out $162K debt in less than 3 years?? Do you have so little material that you feel the need to report how fabulous these people are? You are making people more famous by treating them like heroes when all they did was get a good job and pay off their debt. Here is a news flash: That is called being an adult! Do they deserve praise for paying off their debt? I guess, if you want. But that is incredibly easy to do when both individuals make nearly $100,000 a year.
The couple described above mention entertaining themselves with free activities and only “inviting 250 people” to their wedding. You do not have to worry, they created their own invitations and licked the envelopes (because invitations are the most expensive part of a wedding). I must say, if I had $160,000 worth of debt and did make enough money to pay it off, I would be inviting 5 people to my wedding and get married in city hall. It seems like their priorities were a little bit off if you ask me.
Dave Ramsey can help! Yeah, right.
We always hear these types of stories, but the fact of the matter is people cannot pay off more than they earn in a relatively short period of time.
- How I Paid Off $158,169 in Debt
- Receiving a secure income along with child support
- How Dave Ramsey Helped One Couple Demolish $60K of Debt in Just 8 Months
- Had stable jobs and a combined income of just over $100,000
- How this couple paid off $200,000 of debt in 2 years
- She figured her law degree would be worth it
Does anyone else get the feeling that these people are merely rubbing their income into our faces? There seems to be mixed reactions when it comes to these stories. A lot of people encourage and praise one another, while others criticize the lack of journalistic research.
I am definitely with the criticizing group. Praise is not needed for people are financially responsible. Good job, you took the route you were supposed to take. A common expression and statistic is “a person with a Bachelor’s degree will earn an average of $1 million more over his or her lifetime than someone who graduated from high school.” How do you accomplish that? By going to school. Little-known fact: the rising price of higher education remains to be more than most people can afford.
More Debt than Income
From what I can tell, it sounds like the best way to get out of debt is to make a lot of money. Pretty simple, right? But how do the people who make $60,000 combined get out of $160,000 worth of debt? That is what we really want to know. In other words, how does the average person pay off his or her mountain of debt? Oh right, they cannot. No matter how many home lunches you take or envelopes you lick, you cannot payoff more money than you receive.
Maybe Yahoo! and GMA should try reporting on a REAL story–one that will appease our need for news without slapping the general public in the face.
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