If you’re a struggling college graduated like myself, then most likely you are in debt and are wondering how in the heck you are going to pay your student loans, credit card bills, etc. Trust me, I know that feeling. I am still in debt without a stable job. I make money here and there from blogging, writing for various publications and covering industry events. Don’t think we’re alone. New York’s Power 105 FM’s “The Breakfast Club,” co-host Angela Yee been through our situation and she’s sharing her story. A graduated of Wesleyan University, she majored in English and held numerous media-related positions—ranging from corporate consulting to artist management—before finding her niche as a media personality. But along with the public notoriety came expensive shopping habits that landed Yee nearly $30,000 in debt. Much wiser about her finances; the media maven shares with BlackEnterprise.com how she beat the credit card crunch and learned to better manage her money. Read some excerpts below:
You’ve had great success in your first year at Power 105, but came from a management and consulting background. What lessons did you learn in switching career paths?
I’ve quit a job one time because I was going to make more money somewhere else and I was miserable [at the new job]. I really did like the job I quit, but I was looking at it like, “Well, I’m going to go here and make more money.” Sometimes, in the long run, it’s best to make less money, which is what I did when I left working at a clothing line to go work at Shade 45. I wasn’t happy where I was working and I took a crazy $30K pay cut to start all over at Sirius where I made way less.
What impact did that pay cut have on your quality of life?
That’s probably where the debt started from, having so many bills that I had to pay. I worked the first month without getting paid because it was a probation period to see if it was going to work because I had never done radio [at the time], so they definitely took advantage of me. It was a struggle for me for so long but the next year I got a $20K raise and a bonus and I got a raise every year afterwards. I think sometimes you do have to go backwards to get further in the big picture. Now I make more than double what I made at Sirius.
Source: Black Enterprise
Photo via PYNK
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