Sunday, February 23, 2014

You Can't be Financially Independent in Debt

So I was thinking the other day how fast I would be able to pay off my debt . I knew that the only way I'd be able to be financially independent is that I paid off each and every loan it's not something I'm proud of but I am in debt and the only way that I'm coming out of it is by hard work and making each and every payment till they're gone.

I have a student loan that's with Discover(bought from Citibank aka the Satan of banks) and this loan is keeping me from being $250 closer to financial independence . The loan is $250 a month that means that every single f****** month, I have to pay the bill they charge me interest,they even send me a statement and I open it and read over the numbers and usually it's depressing.

As previously mentioned this is my old Citibank student loan, I used this for extra money to go to the university of Syracuse, because I wanted to study abroad. This is my pain for living in small mansion in London, getting on a plane to go see how many countries, spring break in Spain, this is a private tuition to Syracuse this is even get in including a $5000 scholarship that barely even put a dent in it. But it's not a that I didn't have a great experience or meet some great people, this is the extra holding me back of getting rid of debt, I am to $250 month closer to never having to pay a single payment ever again to Discover/Citibank, what a powerful statement, what a great feeling. Who knew that paying off debt or the anticipation of paying off debt would be so exciting, must be because I am that closer to financial independence.

I think about my money all time whether it's my job salary, investments, paying off loans, credit cards, cash, I really do think about it all the time. I think you have to, I believe if you want to excel at something you have to obsess over it, always be working towards your goal. If you have read the blog over time you have seen that consistency is one of the things I struggle with and my strategy of defeating this is not making this a marathon, but making each part of my life a sprint and then relax. During that sprint, I'm intense I have a goal, I have a destination that I am climbing towards. You have to want it, simple as that. I go through phases with music and listening to different items, well a while back I couldn't' get enough of motivation videos, they are great for when you are pursuing something and you want a boost.

I think that's where I'm at, I really think that I'm come to the point where I I'll do whatever it takes to get rid of debt and get closer to financial independence, closer to Warren Buffett and that's why I write about this stuff Finance Fitness and Dreams.

Monday, February 17, 2014

Why I hate Mr Money Mustache Part II Cable and Internet Edition

Here's the latest Why I hate Mr Money Mustache Series.  Disclaimer I don't hate anyone, I'm jealous in a couple ways, but I also am not a Mustachian.......Here you Go 

I always read Financial Bloggers alike and many people for that matter scream to the heavens, STOP WATCHING TV, cut your cable cord and save money.    They will then go on to talk about how they stopped spending so much money and in Mr Money Mustache's case "Cut your Cash-Leaking Umbilical Cord". 

Well Guess What?  I want to watch TV!  I want to watch sports, NFL, College Basketball, and any other show that I want to see right this minute!  There I said it, I think the reasoning is completely logic.  Here's goes: 

For example let's say you spend $50 month on the Internet for example, maybe $9/month for Netflix and another $9 for HuluPlus, i don't know, humor me for one second.  So there you are spending $68 for "Cutting the Cord"  Congratulations to ummm saving money? 

Don't get me wrong if you are able to get rid of TV and Wait for It......The Internet then good work, you are Frugal beyond your years and can put that $68 in a monthly account and make 10K in 20 years(no calculations actually done).  But every time I read an article about saving money on Cable TV it still involves the Internet.  So I skoff(not spell checking this word).   

I do think there are many out there spending too much for cable and Internet.  If you are spending $200/month and you are not getting paid to be Movie critic on the Internet, I think you have a cable and Internet problem. However if you are paying the small amounts of $40 or $60 month to have the luxury of watching the Green Bay Packers on Monday Night Football then this seems reasonable.   



The goal like with Cell Phones and my favorite Republic Wireless and for many across the board is to save as much money while still getting the highest quality product possible.  So I skoff(yep one more time for good measure) at the idea of cutting Cable TV, because most of the time it's not really true anyway and you are using the Internet to stream TV.  Like every purchase, it's important to do the research and get the most for your money.  $480/year is a lot of money to many people and don't get suckered into that $70/month $840 year after the 12 months are up, look for a deal with other providers, reach out to the customer service and get that bill lowered.  Just Remember It's OK to have Cable and the Internet which most seem to lull over. 


We made a decision to cancel our DirecTV service and go with the above mentioned Internet Plus option through Comcast, we are fairly new into the conversion, so I want to do a separate blog post explaining the cost breakdowns and if it actually works for us.