So Money With Farnoosh Torabi

921: Paying Down $600k in Debt with Drs. Renée and Nii Darko (Replay)

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Sinopsis

**Originally aired on Jan. 31, 2018**What would you do if you woke up with $662,000 of student loan debt?Yes, you heard that right, $662,000 in just student loan debt.Well, that’s what happened to Drs. Renée and Nii Darko. After meeting in medical school and completing rigorous surgical residencies, Renée and Nii woke up to see their total debt balance had ballooned to the high six figures after years of deferment and forbearance.Stressed, confused, and not making any progress on actually paying down their principal, the Darko family decided to get serious. They cut out their pricey insurance policies, took on a significant amount of extra shifts at hospitals all over the country, and reprioritized everything. And by prioritize, I mean they only paid $200/month in groceries for 2.5 years!The result of all this hard work and adhering to that strict budget was that they paid off all their debt in only 3 years!Today, I’m talking to the couple about how they did it and the challenges they encountered along the wa