Finance

This man was $70,000 in debt — then one tune modified all the things

He now solely splurges on issues that ‘make me joyful on the within’

“You bought to ask your self do you actually wish to win, or simply look good losin’?”

By 2011, Duron Chandler had already heard these lyrics many instances, however this was the primary time the phrases spoke to him.

Chandler was driving alongside Richmond, Va. roads he knew nicely however feeling misplaced. He was two years into his first actual job out school. He was having fun with journeys together with his girlfriend, nights out together with his pals and a swanky 2004 Cadillac CTSV GM, +0.43% for weekend excursions.

He was additionally roughly $70,000 in debt, struggling together with his weight and shopping for a automotive he in all probability couldn’t afford. So he went for a drive in his comfortable 1996 Toyota Tercel TM, +0.66% trip to clear his thoughts when he listened to Little Brother’s tune, “Goals.” After which he heard it: “You bought to ask your self do you actually wish to win, or simply look good losin’?”

“That line jumped out of the radio into my head when he mentioned it,” Chandler, 37, advised MarketWatch. “Am I doing the issues I must do to stay the life I say I wish to stay? … I noticed I used to be wanting good shedding.”

Chandler’s been on a brand new monetary street ever since. He’s gone from debt to at the very least $120,000 in financial savings and investments.

“A part of my purpose is to go away a legacy of cash, wealth and data for my pals, household and group,” Chandler, a venture supervisor at Cisco CSCO, +1.75%, mentioned. He added, “I don’t wish to get to my finish of days and never assist anyone out.”

Having fun with life?

Chandler’s father was an elementary-school instructor who drove a newspaper truck at evening. “The angst that was there within the family was about cash,” mentioned Chandler. “In my head, I routinely thought if I repair the cash issues I received’t have too many issues in my life.”

Chandler needed a facet job rising up, however his father mentioned he needed to deal with college and sports activities as a substitute.

He graduated from North Carolina A&T State College in 2005, majoring in industrial engineering. Chandler emerged with virtually $60,000 of pupil debt. He secured a job with Northrop Grumman NOC, +0.04% as a venture scheduler in 2009; by then, a few of his college pals already had well-paying jobs and have been residing it up with journeys and nights out.

He moved out of his dad and mom’ place and purchased his Cadillac for $23,000, although he held onto the Toyota Tercel. He spent cash going out on weekends, taking journeys to the seaside together with his girlfriend, Anjelica, and basketball tickets to see the Washington D.C. Wizards.

“At that time, I’m having fun with life,” he mentioned.

The sensation didn’t final.

Chandler was incomes about $2,500 to $2,800 a month in take-home pay, however pupil loans and automotive funds sucked up round $800 of the paycheck.

“I began to marvel what may I do with that cash,” he mentioned.

And that was when Chandler took his fateful drive and placed on “Goals.”