As a college student, Margaret had a part-time job that allowed her to pay off her credit card. She wasn’t too worried when she graduated and was only looking at some student loans to pay.

It helped that she started working as a consultant in Washington, making good money and enjoying the good life. But she didn’t save a penny. Margaret knew she was spending just above her means, but her income was enough that she was able to justify it.

Then she took a job and moved to Atlanta hoping her new job would change her life.  The position was perfect, so Margaret was willing to take a big pay cut.  Unfortunately, she didn't cut back on spending accordingly.A self-proclaimed “social butterfly,” Margaret spent her free time shopping and enjoying the Atlanta social scene without thinking of the financial repercussions. But then, she got the wake-up call she needed when the bank repossessed her car, her electricity was turned off as she struggled to pay her bills and the IRS took measures to collect unpaid taxes.

Margaret’s goal is to get her creditors under control. She knows that once her debt is cleared up she will be able to fully commit to her career.

Get another job to pay down debt
Margaret is drowning in debt. Her credit scores are dangerously low. Our Money Mentors tell her this is her wake up call. Margaret owes the IRS thousands of dollars and paying off the IRS has to be priority #1.

Eliminate the spending
Margaret is spending more than she ought to. Being in debt is bad for her image, for her career hopes and for her self confidence. Time to stop the dinners, the socializing beyond her means and trying to as she says, live the life.

Use online banking
Margaret has to be the boss of her own money. If she sets up an online bank account that will help her keep a daily track of her money, what’s coming in and what’s going out.

Focus on earning money - not the lifestyle
Our Money Mentors offer some tough love - now is the time for Margaret to grow up, make more money, and put her dream of running a major event. Her priority has to be paying off her debts, get a second job and assume her responsibilities.