Living On $100K A Year In Atlanta | Millennial Money
Dr. Adrienne Colman, 30, lives in Atlanta, GA, and earns $100,000 a year as a physical therapist. Colman faces $230,000 in student loans for her undergraduate and doctoral degrees, but she doesnāt lose sleep over it. Sheās only a few years into her career and already earns six figures. She expects her income will keep growing, which will help her pay off her debt down the road.
This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money.
Read more about about Adrienne’s budget breakdown here: https://cnb.cx/3hzlOiD
In the meantime, she isnāt willing to sacrifice everything just to put more toward her loans each month. She doesnāt live extravagantly, but she does want to enjoy her life. She makes room in her budget for travel, nights out with friends and family and weekend shopping trips.
āIt doesnāt make me feel great that I have that much student loan debt, but I donāt let it hinder me in the way that I live my life,ā Colman tells CNBC Make It. āIād rather live my life than throw thousands of dollars into trying to pay this debt off.ā
Colman puts $453 total toward her private loans each month. Normally, she also pays $229 per month toward her federal loans, but those have been deferred through the end of the year due to Covid-19. She expects to pay off her private loans in eight years and her federal loans in 25. At that time, any remaining balance on her federal loans will be discharged, and Colman will pay taxes on the amount forgiven.
She also has around $2,600 in credit card debt, mostly from shopping for clothes and accessories, and she is paying off around $17,000 for her 2017 Mazda CX-5.
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Bro to have $230K in student loans? WTF MAN
Her Boyfriend is a Simp. I know if he couldn't pay her bills she would not be with him anymore.
Anyone in $230k in debt is broke. PAY IT OFF
must be nice to have a boyfriend and big daddy government pay all your bills… eye roll…
Some of all these people saving be scary lol.
At least 70% of my income goes to savingsā¦
I come back to this video every once in a while to laugh. Itās been a whole year. I hope she is doing better now.
Can someone explain the student loan debt issue? Not from the U.S, but in Australia if you study at a University and are a citizen, you can apply for whats called a HECS loan. Meaning, you pay back the money once you graduate, start working and hit a certain bracket in your income. A fixed amount just gets deducted from your pay. Even if you don't work or don't graduate, there is no interest or requirement to pay it back at any time. It does sit there though, which is an issue.
That's not bad for rent in Atlanta! Although, probably like mine, that probably went up 15% in the past year…
How can monthly expenses for food be $50? Impossible.
Sallie Mae/Navient student loan forgiveness is here! I hope she, and the rest of you watching this qualify for it!
Mrs Nella is legit and her method works like magic I keep on earning every single week with her new strategy
Interesting it costs about 100k to go from nothing to Dr in Canada. It costs twice as much in the US, and, your dollar is worth more. Thats wild.
This is the worst financial management video I have seen. Dave Ramsey needs to phone her and tell her what's wrong. Her student loan went up by 50k in a year – that's half of her pay. Then she's wasting the remaining 50k ($4300/month) on car payments, savings and pensions that she hasn't amounted to much. If she saved on the housing, and stopped the savings, she could at least double the debts she is paying. Easily pay off 3k a month. She needs to sell the car and ditch her over inflated ego. She's in denial. She is not living comfortably. Even if she didn't subtract the 50k of interest, she still is claiming to earn 8k a month, only spending 4.3k a month, so where is the rest of the 8 k going????
As soon as I heard her say she wasnāt gonna let her $230K debt hinder living her life I knew this was gonna go south
What is she doing for her boyfriend? All I heard was meā¦ meā¦ meā¦ takeā¦ takeā¦ takeā¦
āI make 6 figures! Iām an independent woman, but I need my man too!ā
I think a lot of you font understand she is a doctor. Athe 230k is not abnormal for someone in her profession. Also her salary will drastically increase in the coming years
Gotta love these millennial money episodes everyone in the comments is a CFP
30 with everything but a husband.
Are they sure about the 4382? I make that with an 84k job…
$482 on a used Mazda. Boyfriend of 7 yrs and still no ring or even living together. Whereās Kevin āThe Godfatherā Samuels when you need him. lol!!!!
I believe she said she grew up and lived in GA all her life. Ga has the Hope Scholarship which is not that hard to get. That means her college would be FREE. Plus even without the Hope Scholarship, she paid 30 K per year and there are cheaper options here in GA. It would be good to explain where all that college debt came from.
Her boyfriend sounds controlling. Why does he pay for all these things for her, she is working more than he is. 5 years and no ring? RED FLAG.
She is using this guyš