150: Zina Kumok, A Financial Story Gone Viral

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 10 June 2015

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s guest is just 26 years old. She graduated from college in 2011 with a degree in journalism and a burning desire to become debt free as soon as possible. And even though her $28,000 loan was not particularly high by today’s standards (some students graduate with hundreds of thousands of debt), to pay it off on the starting salary of a journalist of only $28,000 a year (about half an average starting salary) would challenge anyone. But she was determined… and as a result, managed to do erase her debt in 3 years! Her story went viral… and she was featured in Time Magazine and other major news outlets, which inspired her to dedicate her spare time – when she’s not busy with her “day job” doing PR and marketing for a non-profit – to speak and write about her experience so other young adults can do the same. Her name is Zina Kumok. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 150, Zena Kumak.
0:03.2	You're listening to So Money, with award-winning Money Guru Farnu
0:07.1	Farnu Shorabi. Each day get a 30 minute dose of financial
0:10.8	inspiration from the world's top business minds, authors, influencers, and from
0:15.5	Farnus yourself.
0:18.0	Looking for ways to save on gas or double your double coupons?
0:21.4	Sorry, you're in the wrong place. Seeking profound ways to live your
0:22.7	wrong place seeking profound ways to live a richer, happier life.
0:26.3	Welcome to So Money.
0:28.3	Hey everyone, welcome back to So Money. I'm your host
0:33.3	Farnush to Robbie. Today's guest is
0:36.0	Zena Kumak. She is only 26 years old but already has
0:40.1	mastered her financial life. She graduated from college in 2011,
0:44.7	so she's only 26 with more than $25,000 in student loans,
0:49.6	which isn't the worst case scenario.
0:52.0	I mean, we all know that there are horror stories
0:54.8	out there when it comes to student loans but even so she managed to get rid of that
0:59.2	debt in just three years earning a salary that was just equal to the debt. It wasn't even a lot more
1:05.4	than the debt that she had. How did she do it? I wanted to bring her on the show to talk
1:09.5	about her journey and I also really connected with her.
1:12.8	I remember being in my 20s with a degree in journalism like she has with a lot of student loan debt and I was able to get rid of it in one fell swoop thanks to a book advance which some others would have used perhaps to buy a car or a house or you know
1:27.8	Fancy clothes, but I really wanted to get rid of that debt even though it wasn't a huge burden but for me it was really important and
	...

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