To cut the cost of rent, Risher moved in with his dad, who lived in Washington.
“I told him I would cut the grass, be an on-call babysitter, do gutter duty and stuff around the house,” Risher says. “He said, ‘Yeah, that sounds great,’ so, I moved in.”
Then Risher created a budget, a skill he says he learned from his mom.
Making $48,000 per year, he estimated he would have about $3,000 each month after taxes. To reach his goal, he paid $2,500 on his loans each month and lived on $500.
To make that work, Risher brought his lunch every day and drove a 12-year-old Saturn, which had no car payment and cost “20 bucks [in gas] every other week,” he says.
Like Redd Horrocks, who paid of $39,000 in debt in five years, Risher used the snowball method, paying his smallest loan first and then focusing his payments on the next highest one.
In just one year, his debt was gone.