Why did Olivia lose $250,000 she earned during her content creation boom?
Olivia lost $250,000 due to poor financial decisions, including paying off credit cards instead of saving for taxes, and being financially abused by an ex-fiancé who drained her resources.
How much does Olivia currently earn annually?
Olivia earns $50,000 a year as a paralegal, with additional income from content creation and streaming on Twitch.
What is Olivia's monthly income, and how does it vary?
Olivia's monthly income varies between $4,500 and $6,000, with additional income from content creation and streaming, which fluctuates by about $1,500.
Why does Olivia continue to use credit cards despite her financial struggles?
Olivia uses credit cards because she has a plan to maximize their benefits once they are paid off, but her current spending habits are causing the balances to increase instead of decrease.
What is Olivia's current financial score, and why is it low?
Olivia's financial score is 1.5 out of 10, primarily due to her high debt, lack of an emergency fund, and poor management of credit cards, which have late fees and high interest.
How much debt does Olivia have, and what are her minimum monthly payments?
Olivia has approximately $7,000 in credit card debt, with minimum monthly payments totaling $260. She also has $50,000 in student loans.
Why hasn't Olivia filed her taxes for the past three years?
Olivia hasn't filed her taxes for three years because she has struggled to find a reliable CPA, and her previous financial advisor and CPA failed to assist her properly.
What was Olivia's plan for her credit cards before she stopped managing them properly?
Olivia's plan was to use each credit card for specific purposes, such as groceries or Amazon purchases, to maximize cashback and rewards, but she stopped following this plan after a breakup.
How long would it take Olivia to pay off her debt and build an emergency fund?
Olivia could pay off her debt in about six months and build a $10,000 emergency fund in another five months, totaling about a year, if she manages her finances properly.
Why does Olivia have a cash advance on her credit card?
Olivia has a cash advance on her credit card because she didn't have enough money in her checking account to cover a bill, so the bank used her credit card as overdraft protection, incurring interest and fees.
- Multiple income streams (paralegal, content creation, OnlyFans)
- Monthly income around $4,750
- Inconsistencies in income reporting
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