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Saturday, 18 May 2024

Finding financial peace during pandemic

Credit: KTNV Channel 13 Las Vegas
Duration: 00:51s 0 shares 1 views

Finding financial peace during pandemic
Finding financial peace during pandemic

Many Americans currently looking for work are hurting financially.

But, some are taking control of their finances with help from a group called "Fire." It stands for "Financial Independence Retire Early." Many of those participating in the program save an average of 40% of their income.

GROUP CALLED "FIRE."IT STANDS FOR "FINANCIALINDEPENDENCE RETIRE EARLY."MANY OF THOSE PARTICIPATING INTHE PROGRAM SAVE AN AVERAGE OF40 PERCENT OF THEIR INCOME.WENDY AND CURTIS MAYS -PARTICIPATE IN WHAT THEY CALL A50-50 PLAN.50 PERCENT OF THEIR INCOME GOESSTRAIGHT TO SAVINGS.THE OTHER 50-PERCENT - PAYSDOWN DEBT WHICH INCLUDES RENT,UTILITIES, AND FOOD.THEY SAY THEY WERE IN A MILLIONDOLLAR FINANCIAL HOLE BEFORESTARTING THE PROGRAM THREEYEARS AGO."IT'S BEEN A LONG TIME OFHAVING THAT FEAR IN THE BACKOF OUR MINDS AND TO NOT HAVE ITANYMORE IS JUST INCREDIBLE."THE COUPLE SAYS - THE KEY ISMOVING PAST THE STIGMA OF DEBT,TALKING WITH OTHERS, ANDFIGURING OUT WHAT WORKS BESTFOR YOU.FOR WENDY AND CURTIS IT MEANTSELLING THEIR HOUSE TO PAY DOWNDEBT.HEADING OUT THE DOOR NOW MEANSGRABBING A MASK AND STAYING SIX

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