Back in 2000, a 25-year-old Scott Alan Turner realized that he was, in his words, a "money moron."
After graduating from college in 1994, Turner made a series of financial missteps: He got his first credit card and started charging. He bought a brand new Jeep — and later a Porsche. And when the bank offered him a loan to buy his first house, he followed the well-meaning but ill-advised suggestion of a boss who told him, "Buy as much house as you can!"
Turner landed himself in a heap of debt. He breaks it down into two piles. The first was around $30,000 of student loans, car payments on the Jeep and credit card bills. The second was $40,000 for his second car and more credit card bills. Plus a $200,000 mortgage on the house.