High Income But Still Living Paycheck to Paycheck

Article: ‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on. Do I need professional help?

This is a great article for every college student to read as it provides a great perspective on the importance and the reality of having a good financial education early on. Often, we think simply that if only we make more money, then we will automatically be able to solve our financial challenges, but that is just not the case.

As a practicing financial professional since 2005, I can also attest to that fact. Often, a lot of our new clients are clients who are making a lot more money than they used to before so they then realized they need professional financial help.

Many students simply think as long as they focus on making a lot of money, that having a lot of money will just be good enough and that things will manage themselves with wealth accumulation. However, smart financial knowledge and well-planned financial pathways can help change money into wealth and comfort.

It’s so important that we need to learn and practice good personal finance as early as possible, because there is always more to learn.