#196: When Wendy Mays was in her early 20’s, she earned $12 an hour working as the office manager of a pest control company. She wanted higher income, so she enrolled in college at age 22. By the time she finished her undergraduate degree, she was 26, married, with a child. Her husband worked low-paying jobs to make ends meet. They struggled to pay the bills. Wendy decided to enroll in law school, so that she could bring in more money. She graduated around age 30, and became the primary breadwinner for the household. She opened her own law practice. The couple starting bringing in a combined household income of around $200,000 annually. They bought a large house, with a swimming pool. Sounds like the American Dream, right? Except it was all financed. By age 38, Wendy and her husband accrued nearly $800,000 in debt. Around $480,000 came in the form of mortgage debt. Another $20,000 comprised of vehicle loans. The other $300,000 came in the form of student loans. They lived paycheck-to-paycheck. They decided to expand their family through adoption. Rather quickly, Wendy and her husband had six children. They realized they needed to repay their debt in order to give their family a more stable home life. At age 38, Wendy and her husband committed to repaying their debt, building their retirement accounts, and getting themselves onto a smart financial track. How did they re-start their financial life at age 38, with six children and $800,000 in debt? Find out in today’s episode. For more information, visit the show notes at https://affordanything.com/episode196  Learn more about your ad choices. Visit podcastchoices.com/adchoices