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Is Winning The Lottery The Only Way You Can Imagine Paying Off Debt?- WWJ AM 950 Detroit

  • January 14, 2015
  • By: Greenpath Financial Wellness

WWJ

DETROIT (WWJ-AM 950) – The Mega Millions is at a whopping $246 million dollars, the third-largest jackpot in the past 12 months. Is winning the lottery the only way you can imagine paying off debt?

Winning that lottery prize would mean paying off debt first for many Metro Detroiters. Andrew Johnson with GreenPath Financial Wellness in Farmington Hills says he understands why that’s the case.

“I think in our lifetime, the recession hit more people than at any other time really in recent history,” said Johnson. “A lot of people were laid off – a lot of people were not able to find work and I think a lot more people had to rely on credit cards to really make ends meet. We are still bounching back here in Michigan.”

Johnson says with the unemployment rate decreasing, it’s a good time to focus on our debt.

“Maybe when they were underemployed or laid off a few years back getting out of debt was not their priority but now getting back to work and looking at these credit card bills … people are making an effort to get those bills paid off.”

The Mega Millions will be drawn tonight. The cash option for Tuesday night’s Mega Millions jackpot is about $159 million.