Sunday, April 28, 2013

Making Money, Making Money, Making Money-Paying off Debt

I would say if you follow simple rules of make more than you spend you win the game of finances, but if everyone did that we would not be here reading or writing in my case.  So I want to point out some of the things I have done and I am working on to Make Money so I can Pay off Debt, not buy new things, Pay off Debt.

Currently the sprint is going to plan, still sprinting, and yesterday over a beer from Half Acre(I love these guys  I'm not an investor but be ready for a future blog about Venture Beer Capitalist!)  I made plans to focus on the next debt and go a little more Dave Ramsey on this one and pay off my smallest debt next, but I'm focused Sprint #1 I wanted to write down all of my future financial goals of paying off debt and saving, I've posted on here before but I want to have every single thing paid for in 7 years, considering there is 2 homes in this equation it's a mountain sized goal!

Back to what I'm doing to make extra money and things you can to.  First I work hard at my job or smart or at least I show up everyday, I applied for a Manager position and while being a Milwaukee Bucks underdog I have learned a lot from this experience.  So don't be afraid to apply for other positions that have higher pay, I mean if you make 20K a year and get that 25K job, congrats you just increased your monthly income by about $400 extra a month.  If your job is hourly and they offer Overtime, soak it all up, I mean up until now it was 32 degrees and cloudy, what did you need more a drink after work or 1.5 times your hourly rate?

I also sell things on eBay, I call it my Man Fund.  Like the good financial blogs and books tell you I sold some of that stuff I just didn't need or wear anymore.  I sold a backpack that I used in Europe, clothes that I didn't wear and a few other things that I can't think of right now.  I also love to shop for bargains and deals so even when I was in college I would buy stuff from Nike Outlet and resell it on eBay, made some extra funds there without a lot of risk.  I also shop at garage sales, thrift stores, anywhere that has name brand stuff for cheap that I can sell(Here's an example )

So there is ways to make extra money, maybe you fix up cars, take great photos, or have a bunch of junk you don't need, sell it make some money and Pay off that Debt!!!

Lastly I reference financial blogs and things I read that keep me motivated, check these out, they have some great material, whether it's about being frugal, making money, or a little bit of everything.

Friday, April 19, 2013

Sprint #1-Paying off Student Loan Debt

So here is my first sprint, my 40 time is about 4 months, I had it projected that it will take me about 4 months and an estimated total payment of around $800, I'm not including interest because it's pretty small and only adds a few dollars to the overall plan.  I am happy to report, that I was able to pay $1000 off in the first month, so i'm ahead of schedule, hooray for beer and hooray for me.

Just a reminder to everyone and myself the goal is to pay off all of my student debt, but I will be sprinting the entire way, with small walks to catch my breath.  Here's a breakdown of my plan, enjoy. 

Listening to Pandora and this guy came up, thought it looked cool

Thursday, April 18, 2013

My Blog is like My Life, Inconsistent and Sprint or Marathon?

Strong statement right?  I have went through life in short term sprints, in college I decided I wanted to bench press 300 lbs, for those that grew up with me know I convinced my football coach to give me the 250 lb bench press shirt because I was so close, thanks Coach Miller.  But I went to the gym with my good friend Strudle for like a whole semester or year and I completed my goal, I think I even got to 315lbs, but then I stopped shortly after going to the gym. 

So I feel like I go in sprints of getting things done and wanting to do things, whether it is paying off debt, losing weight, making more money.  Then I stop sprinting and move on to another sprint or since I reached my short term goal or miss it because the sprint was for 2 or 3 years, I stop!  So as in times past, but this time is different, what makes it different?  I'm creating a habit and I'm changing my thought process, the many books and general knowledge says that you have to do this for about 30 days for it to take place.  I decided to make everything a short sprint, but instead of sprint for 30 seconds and then take off 3 months, It will be sprint with a short term goal, relax, sprint with new short term goal.  I really think that's how I'm programmed and many of us are today that are in that 25-34 range.

Yes, totally normal to sprint in a suit

Immediate satisfaction  I want to pay off my student loan tomorrow, not in 3 years or 10, well then I have to create a 3 month goal to pay off X student loan, relax a little, then set up that new sprint of paying off Y in 4 months.  That's how I'm wired, I'm trying to see 5 years, but why not sprint for 3 months, look up take a breath, then sprint for 3 more months? 

You see a lot of people say or write life is not a sprint it's a marathon, OK but what if you sprint to the top and walk the rest of the way down hill, what's wrong with that????

I'd like to think I'm more of the strong black guy with muscles than the frail guy from Finland!!!