It would be beneficial for Porters to look into debt relief strategies to help them get back on track with their financial goals.
The Porters are a family of five living in the state capital. Mrs. Porter is a successful lawyer earning $160,000 a year, while her husband stays at home to take care of their three children, the youngest of whom is three years old. Since he has not worked in several years, he feels he would have difficulty re-entering the workforce due to outdated skills.
In terms of their finances, the Porters owe $140,000 in mortgage payments, $20,000 on cars, $1,200 on credit cards, and $50,000 in student loans. This adds up to a total of $211,200 in debt, which is a significant sum for the family. They are likely to be struggling to make their payments each month and to pay for other necessities like groceries and utilities. It would be beneficial for them to look into debt relief strategies to help them get back on track with their financial goals.
To know more about finance here
https://brainly.com/question/10388452
#SPJ4