This Financial Life: Lindsay

Updated on March 27, 2020 Updated on March 27, 2020
Listen Money Matters is reader-supported. When you buy through links on our site, we may earn an affiliate commission. How we make money.
This Financial Life with Lindsay Thurston
Table of Contents  
  1. Show Notes


Today we have a This Financial Life episode with listener Lindsay. We break down her finances to see what she’s doing right and where she can use some help.

Lindsay is a second grade teacher living in Seattle. We’ll help her get her financial life in order.

Lindsay’s salary is a little over $58,000 a year, it’s spread over twelve months and she makes a few extra thousand teaching summer school. Lindsay decided that 2015 would be the year she stopped ignoring her finances, partly thanks to LMM!

Lindsay divorced in 2013 and it caused some tax problems. Your marital status matters on the last day of the year. So even though the Lindsay was married for almost all of 2013, for tax purposes, she was considered divorced. She ended up owing $2,400.

She had about $20,000 in credit card debt after the divorce. Lindsay got a loan from Prosper to help conquer the debt. She also used Ready For Zero to help pay things back. Within three years she will have killed all that credit card debt!

Lindsay also has $56,000 in student loans. Once she has paid off her credit cards she will focus more on the student loans.

Lindsay has investments too. She has about $15,000 in a Traditional IRA but she is focused on debt for the time being rather than investing.

Her rent is not unreasonable, her car is paid off although she has a bit of a long commute.

What can Lindsay do better? Her Prosper loan interest rate is high. She should try Lending Club to see if she can get a better rate through them.  She can contribute more to her IRA to reduce her taxable income.

Lindsay has a lot of debt but she also made a plan that she is sticking to. We’re happy that we were able to play a small part in her success!

Show Notes Lindsay’s lifestyle blog.

Mint: Find out where your money is going.

Patreon: If you appreciate LMM, donate here.

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

What's next?

learn course podcast popular toolbox