Long Story $hort: Recent Episodes
Money Management International (MMI)
From Money Management International - a podcast about debt that will make you feel a little less alone. We’re stripping away the shame and guilt around the debt conversation and replacing it with unique, personal, and inspiring stories from real people. We know the journey out of debt is individual and deeply personal. On each episode, we’ll attempt to make each guest’s financial history and future a Long Story… Short.
Join us as we wrap up season three of the podcast with MMI staff Maura Attardi, the Director of Financial Wellness; Tara Alderete, the Director of Enterprise Learning; and Amy Lins, the Vice President of Customer Success. Adam and the team from MMI discuss the broad range of MMI clients, the services MMI offers, budgeting trends made popular by social media, and common scams with the financial industry.
Today on the show, three professionals join Adam to discuss all things student loans. Amy Lins is a Financial Educator at MMI, Adam Minsky is a Student Loan Attorney, and Zina Kumok is a Personal Finance Writer that specializes in student loans. Our three guests discuss loan repayment and forgiveness, how to apply for repayment initiatives, and the mental impact that student loans can have on the borrower.
Melissa John is an attorney from Salisbury, Massachusetts. In her twenties, she didn’t have a strong grasp on how to responsibly use credit cards. This, mixed with some medical costs and law school tuition left Melissa entering her thirties with $70,000 of debt. When she reached out to a financial advisor, he recommended MMI. Now, in just three years, Melissa has paid off the debt and says that she’s living in peace.
When Sarah found herself in $70,000 of credit card debt, she reached out to Money Management International for assistance in paying it all off. She first got into debt when she was in college and didn’t have a strong understanding of how credit cards work. Now debt-free, Sarah is more intentional with her spending and advises people in similar situations to take action as soon as possible when paying off their debt.
Michael McKeaney is no stranger to debt, having gone into it multiple times in his life. However, during his second round of attempting to pay it off, Michael reached out to MMI in hopes of finding an easier way to reach his goal. With the help of MMI, Michael was able to pay off around $40,000 in just under five years and increase his credit score by 120 points. Now, Michael is able to regularly contribute to his savings while living debt-free.
Kristin Pierre is a freelance singer and model, as well as executive assistant from Weehawken, New Jersey. As a freelancer, Kristin found her income to be unpredictable and she quickly found herself racking up credit card debt from shopping. When she reached her breaking point, Kristin reached out to MMI and was immediately comforted by a MMI counselor. Now, Kristin has paid off $20,000 in five years and increased her credit score by 120 points.
Sami Johnson is a realtor and hairstylist from Athens, Georgia. After starting a retail job in her early 20’s, Sami, a self-proclaimed “Shopaholic,” started accruing credit card debt from in-store credit cards. When she reached out to MMI, Sami had roughly 15 credit cards and $25,000 of debt. Now, five years later and with the help of MMI, Sami has paid off the debt and raised her credit score by 70.
Everett Lacey is a Poet and Photographer living in Columbia, Maryland. After a series of unexpected costs, Everett found himself in $26,000 of debt. With all of this debt quickly piling up, he had no idea what to do to ensure he could still pay his bills. It was at this point that he reached out to MMI. With the help of MMI, Everett was able to pay off the $26,000 and raise his credit score substantially.
Edidiong Obot is a graduate student living in Washington, D.C. During her undergrad, Edidiong first went into debt after buying a laptop with an Apple Credit Card. A few credit cards later, Edidiong found herself $30,000 in debt. After being recommended MMI, Edidiong connected with friendly and helpful counselors who helped her pay off that $30,000 in just over three years, while increasing her credit score by 60 points.
Gabriel Grant is a military veteran from Connecticut. After finding MMI online, Gabriel enrolled in a Debt Management Plan to help pay off the debt he incurred from building a home, all while going back to school and welcoming a child. Now, just three years later, Gabriel has paid off $25,000 and raised his credit score 50 points. Now, Gabriel can enjoy financial freedom in the comfort of his own home with his wife and daughter.
When Katie Sanders first graduated from college, she unknowingly lacked the financial education needed to make wise credit card decisions. After going to the doctor and charging it to her credit card, Katie was only able to make the minimum payments causing the interest to pile up. After connecting with MMI, Katie was able to pay off $30,000 in just three years. Now, Katie enjoys giving her daughter the life she deserves.
Ryan Revell is a mom of three, who after getting married, quickly spiralled into credit card debt. When her and her husband sat down and calculated just how much debt they had, they totalled up $28,000. Wanting to avoid filing for bankruptcy, Ryann and her husband decided to call Money Management International. In just five years, Ryann and her husband paid off their debt in full and now live a happier, less stressful life.
The goal of this episode is to provide an overview of what a Debt Management Plan is, who qualifies for one, and how to break down the stigma that often surrounds debt. Utilizing interviews with four subject matter experts, we will weave together a narrative that answers the following questions:
- What is a Debt Management Plan?
- How is a DMP different from other types of debt repayment programs?
- What are the best kinds of debt for a DMP?
- Why is debt so hard for Americans to talk about?
- How can individuals and families take control of their debt using an DMP?
This episode will be the last episode of Season 2 of Long Story $hort. Episodes 1-12 focused on the real MMI clients who used a Debt Management Plan to pay off their debt in full and improve their credit scores.
Ericka L. Rutledge first ran into debt issues when she enrolled in grad school on the path to becoming a psychologist. Between the cost of living in New York City and the cost of tuition, practicum, and internship, her debt was building quickly, not to mention additional medical and childcare expenses. After she got in touch with Money Management International, she was able to pay off $33,000 in just four and a half years.
Join us for a thought-provoking conversation with Leigh Phillips, where she challenges conventional perspectives on saving and debt reduction. Discover how Saverlife, a nonprofit financial tech company, leverages behavioral science to empower individuals in achieving financial goals. Learn about their innovative app that tracks expenses, builds better habits, and provides valuable resources for any types of workers. Explore strategies to maximize income, reduce expenses, and access government programs and utility discounts. Don't miss this episode that unveils the power of behavior in building wealth.
Marla Puckett has seen it all. Having recently celebrated 20 years as a Credit Counselor, Marla is an expert on helping consumers reach their financial goals. She is dedicated to providing personalized guidance to each client she encounters. Marla and Adam discuss the her experience in the last 20 years, stigma around debt, and “Spending Plans”. Stay tuned to the end because little does she know, Adam and MMI have a surprise for her.
Ilia Mack thought her finances were under control. She purchased a home and still had savings left over, until it came to fixing up the house. Underestimating the cost of repairs, along with exterminating a squatter raccoon left Ilia with $20,000 worth of debt. Ilia was put in touch with Money Management International to help pay off her growing debt. Three years after meeting with MMI, Ilia has paid off her debt and is now free to enjoy her life the way she wants to.
For Mike Clement, a septic tank was his ‘tipping point.’ After he and his family moved to a larger house on four acres, unexpected repairs started piling up. Mike and his wife used store-sponsored credit cards to cover the costs. When their septic tank needed to be replaced, they took out a home equity loan. Mike knew he needed help. While working with the debt relief counselors at Money Management International, Mike paid off $72,000 of debt in 4.5 years and learned how to use credit responsibly.
When Paige Demontigny helped a family member pay for necessary but expensive name-brand prescriptions, she amassed unmanageable credit card debt. Paige's bank suggested contacting MMI for help. The debt relief counselors at Money Management International advocated on Paige's behalf by contacting her creditors and negotiating interest rates. With discipline and MMI's advocacy, Paige paid off $24,000 of credit card debt in just over 4.5 years.
After a difficult divorce and subsequent relocation, Annette Spychalla accumulated consumer debt that was too big to overcome alone. In this episode, Annette shares how she found the courage to face her problems and get help. With MMI’s help, Annette paid off $20,000 of credit card debt in four years. Now working as a Jay Shetty certified life coach, Annette advises that anyone struggling with their relationship with money should get quiet and be radically honest with their beliefs and current situation.
After leaving an unhealthy relationship, Lauren Lazarus wanted a fresh start and rented a new apartment. As Lauren settled into the next chapter of her life, the temptation of furnishing her home with new items resulted in maxed-out credit cards. When Lauren didn’t qualify for a much-needed education loan, she knew she needed help. Her mom suggested that she contact Money Management International. While working with the debt relief counselors at MMI, Lauren paid off $25,000 of debt in about 4.5 years. She also increased her credit score by 113 points along the way. Lauren describes the counselors at MMI as her guiding light; she worked hard while they cheered her on and kept her focused on the mission.
When Brittney Roberson’s evening side hustles weren’t tackling her credit card debt effectively, her mom suggested she contact Money Management International. Working with the credit counselors at MMI, Brittney made a big sacrifice — moving back home to live with her mom — to decrease her monthly expenses. Those sacrifices paid off, as Brittney was able to eliminate $57,000 of credit card debt in just over 2.5 years. Now living in her “promised land” in Charlotte, North Carolina, Brittney is free of debt and free to travel the world and give to her chosen causes.
Jared Walker believes that a medical emergency shouldn’t be followed by a financial emergency. After watching his family go through a medical crisis, Jared founded Dollar For, a national nonprofit that crushes medical bills by empowering patients and advocating on their behalf. In this episode, Jared will share more about Dollar For and explain Charity Care, medical debt, and how you can overcome expensive hospital bills.
Jarred Butler’s finances were stretched thin when unexpected medical expenses started piling up. As a busy dad of four kids, all under the age of 10, Jarred needed help. When he contacted MMI, he was pleasantly surprised by their expertise and encouragement. Since working with the debt relief counselors at Money Management International, Jarred paid off $30,000 in just over one and a half years, increasing his credit score by 100 points.
When we started working on this podcast back in April, our team wanted to accomplish a few things.
One, we wanted to share the stories of MMI clients who conquered their debt and achieved financial freedom. Two, we hoped to inspire listeners that yes… they can do this too. And third… and this is kind of the “big one”… we wanted to peel back the layers of stigma, shame, and secrecy when it comes to talking about a thing that most Americans have… debt.
So on every episode, we asked our guests this question: How do you think debt stigma impacts a person’s willingness to seek help?
As you can imagine, we got a bunch of different answers. Enough answers for us to think to ourselves… okay, we’re on to something here. Let’s dive deeper.
So as we close Season 1, we want to dig into this issue and ultimately answer the question… why is money… taboo? Why does no one want to talk about money? How did we all, collectively, get the attitude that if we don’t talk about our finances, we’ll all master it on our own?
We called in a few partners to bring expertise and perspective on the phenomenon we’re calling: “The Money Taboo.”
Johnika Dreher lives in Upper Marlboro, Maryland, which is about 45 minutes east of Washington DC. While working with the debt relief counselors at MMI, she paid off $70,000 in debt. Johnika was recently awarded the Brighter Financial Future Award from the NFCC, or the National Foundation for Credit Counseling. On this episode, Johnika shares her story of finding guidance, getting on the right track, and celebrating success.
Demetrius Thrasher deployed with the Navy in Spain. While stationed in Europe, he became captivated by the luxury brands available at every corner. Thrasher opened several lines of credit, began accumulating debt, and ultimately faced the potential of losing his security clearance. After connecting with MMI, he paid off $90,000 in debt through years of hard work and dedication. Demetrius shares his debt payoff story in the company of Tara Alderete, the Director of Enterprise Learning at MMI, who works with MMI’s Military Reconnect Outreach program.
Marlon Ibarra started using credit cards as a young college student with a newborn on the way. His relationship with credit has been tenuous, opening new lines of credit to accommodate his growing family and at one point navigating a scammy debt consolidation program. Once Marlon found MMI and began working with the debt relief counselors at Money Management International, he paid off $98,000 in just over four years, increasing his credit score 217 points along the way, and learned valuable lessons about understanding needs versus wants.
When Jackie Upshaw moved from Philadelphia to Las Vegas to help take care of her mom, she brought some credit card debt with her across the country. When Jackie realized she was just making it with her finances, she knew she needed help. After thorough research, Jackie decided to own her debt and started working with the credit counselors at MMI. Since starting her debt payoff journey, she paid off $36,000 and increased her credit score over 100 points… all in in just over four years!
Juan Pinon learned about MMI through his sister, who had her own debt payoff journey. Though Juan is highly educated, has a great job, and is viewed as the stable and successful one in his family, his spending was getting out of control. Through his hard work with the debt counselors at MMI, Juan paid off $47,000 and has increased his credit score by 129 points. He believes in the work that MMI is doing so much so that he now serves as a Peer Advocate, helping to educate and encourage new MMI clients in their financial journey and reminding them that they’re not alone.
Deborah Wang was living life as she thought most people did. As a mom raising four kids in Anthem, Arizona, many of her family’s expenses went on a credit card. When that credit card bill snowballed into an unmanageable amount, Deborah turned to MMI for help. Since working with the debt counselors at MMI, she paid off a staggering $30,000 in three years and increased her credit score by 144 points along the way. Having removed the burden of debt and its associated stress from her life, she now budgets and pays for things in cash, and most importantly… sleeps easy at night.
As the daughter of immigrants from South Korea, Joanne Lee was not taught about personal finance at home and talking about debt was taboo. When Joanne was overloaded with credit card debt, a Google search for help led her to MMI. While working with the debt relief counselors at MMI, she paid off $25,000 in three years and increased her credit score by 111 points. Now she serves as a Peer Advocate for MMI and shares her story to decrease the stigma around debt. Now free from debt, Joanne is excited to think and dream about her future.
Melissa Mehaffey is the first to admit that she needs two tries to learn her lesson. She worked with Money Management International twice after she was overwhelmed with credit card payments. Since working with the debt relief counselors at MMI, she has paid off $27,000 in five years, increasing her credit score by 85 points along the way. After her second debt payoff journey, she shares the lessons she’s learned along the way: recognizing the difference between a want and a need and remembering what matters.
Jim Kline funded a lot of his 20s - both college and his early years as a teacher - through credit cards. When he entered his 30s, the combination of credit card payments and student loans overwhelmed him and he knew he needed to make a change. With the help of his partner, family, friends, and the counselors at MMI, Jim worked diligently to create a budget that worked for his lifestyle and educated himself on how to overcome his debt. Today Jim advocates for being active, not passive, with your personal finance.
Dr. Megan McCoy is a professor of practice in financial planning at Kansas State University and is also a licensed financial therapist, researcher, writer, and speaker. She is fascinated by the intersection of emotional well-being and financial health. Through her work as a professor and therapist, Dr. McCoy works to reduce debt stigma and start conversations about pursuing financial freedom and creating a game plan with your money that reflects your long-term goals.
Jordan Zangara’s debt journey started when he was laid off from his job in New York City. When he later moved to Atlanta for a new career opportunity, Jordan began accumulating credit card debt while funding his arrival in a new city. When the pandemic hit, Jordan realized he needed to make a change in his financial future and contacted Money Management International for help. Since working with the debt relief counselors at MMI, he paid off $35,000 in 18 months.
Coming soon from Money Management International (MMI) - a podcast about debt that will make you feel a little less alone. We’re stripping away the shame and guilt around the debt conversation and replacing it with unique, personal, and inspiring stories from real people. We know the journey out of debt is individual and deeply personal. On each episode, we’ll attempt to make each guest’s financial history and future a Long Story… Short.
To make sure you never miss an episode, be sure to subscribe to this show wherever you get your podcasts.
To find out more about Money Management International please visit: https://www.moneymanagement.org/