How a Recent Grad Dumped $30K in Student Loans in 1 Year

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How a Recent Grad Dumped $30K in Student Loans in 1 Year
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Phil Risher kicked butt and dumped $30,000 in student loans in one year. He’s a recent graduate who dared to approach debt differently.

He was making an average salary, but he used his resources – his parents – to focus on mastering a financial goal.

Now I hear what you’re thinking (yes, I can hear that) – woulda, shoulda, coulda.

  • I’m a grown-A woman/man and I am not moving in with my parents.
  • My parents don’t even live in the same town. Not possible.
  • Okay. How can I live on $500/month with kids, husband, dogs, hamsters, etc.
  • Shoot! My parents live with ME!

When I listened to someone’s remarkable debt free story while dumping $107,000 of debt, every suggestion was not a great fit. However, I was generally able to take a good nugget from the other experience. Often, I looked at my situation with a more critical eye.

So Phil was exposed to some awesome money management wisdom early in life and he acted on that information. Great for him. You may be a year or two passed your 20s, but if debt freedom is your goal – how can you reach that goal faster?

This was such a great story. Whether you’re a recent college grad or praying for your own college coeds, Phil’s story will resonate!


What are you doing to pay off debt faster? Leave a comment on the new Midday Money Show voicemail. Call: (773) 893-0241


We talked about…

  • How Yum Yum Friday became motivation from co-workers.
  • Financial training that changed his life – starting at 16?
  • How he found ways to enjoy life while focusing on repaying debt.
  • Simple ways his mother helped him learn how to budget at an early age.
  • How his parents helped him stay accountable during the debt free journey.
  • His 5-step organization plan.
  • How he bought a condo with cash near Washington, D.C.


“Don’t be the ATM. Try to set your kids up. Teach them how to budget.” ~Phil Risher


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