In a recent poll conducted by NBC showed that 75% of millennials in the US are in some form of debt. A quarter of millennials — those 18 to 34 years old — are over $30,000 in debt, including 11 percent who are over $100,000 in debt. Only 22 percent of millennials are debt free. This has caused many to hold off some of the key milestones in their life.
There was time in my life, as well, when I had approximately $36k in revolving debt and these did not include my mortgage, car payments and others. Over a period of 4-5 years, I was able to turn around my financial situation to just the house mortgage debt and approximately $125k savings in the bank. How did I do it?