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This month's money makeover

January 17, 2010

This month's makeover

Who: Bronwen Aker

Income: $80,000 a year

Assets: Three-bedroom home on national forest land appraised at and insured for $250,000.

Debts: $23,000 in credit card debt; $11,700 in student loans; $10,000 owed in probate fees on grandmother's estate.

Recommendations: If possible, sell the home and buy one away from the forest for $300,000 or less. With other proceeds, pay off credit cards and probate fees. If unable to sell home, reduce rent by $500 by moving elsewhere. Sell grandmother's antiques to save rent on storage facility. Eliminate premium cable subscription. Reduce trips to the movies to once a month. Reduce monthly food bill.

About the planner: Alfred McIntosh is a fee-only financial planner and the founder of McIntosh Capital Advisors in Los Angeles.

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