Bernadette Joy Cruz-Maulion and AJ Maulion owed more than $ 300,000 in debt for education and two home loans in 2016 for just three years. The remaining $ 1.2 million,
The couple decided to find a way to pay off their debts as soon as possible, and Cruz-Maulion, his wife, said in an interview that they were able to pay off their debts and assets. The implementation of these four laws:
1. Focus on investing rather than raising money
Instead of saving money, Cruz says she's actually invested that money, now they have about $ 1.1 million invested in real estate stocks and retirement accounts.
2. Stop working for someone to start your own business
Cruz resigned and about three months later she started her own financial coaching business, Crush Your Money Goals. At this point, she said, it is not easy because quitting a paid job makes parents unhappy, but she has to try to prove to them that having a business of their own is better than working. Let them because the profit from their own business can not be determined as a salary.
3. Live your own wa
She says the house is a symbol of the American dream and her family always expects her to move to a bigger house, but recently the couple decided to move to a condo to cut costs. And easy to travel. "Just because you have a big house does not mean you will be financially free," Cruz said.
4. Talk openly about money
Cruz recalls that when she first shared more than $ 300,000 in debt relief, her mother asked her why she was saying that. That said, they do not look bad? She said that because of the mindset of people not thinking about talking about money in public, when she was young, she never knew how to manage money, and now as a personal finance coach Cruz. Share to build her clients' confidence in financial management.
However, Cruz-Maulion's above rules are appropriate for her own life, so it may not be in line with your situation, however, it is still an idea for students and Discover to innovate new ways to manage money in line with your life cycle.
