This month, my monthly cash flow received a nice boost. Finally, after 60 long months, I made my final payment on this oh-so-beautiful, dented (that I’m never going to fix!), black Toyota Camry! Now, I join Lanny in the “I’ve paid off my auto loan” club!
I hope at this point it is not a secret that Lanny and I are doing whatever it takes and side-hustling our tail off to earn every extra dollar we can. In fact, I am earning some Swagbucks as I am writing this article as I have a video running in the background. We always say that every dollar counts and every dollar makes a difference in our pursuit of financial freedom. I’ve been thinking long and hard about that phrase recently, especially as I spend hours staring at a computer watching spreadsheets open at work or I walk to the water cooler for a needed break. After a conversation with Lanny at the water coolers one of those days, something he said caused a light bulb to suddenly turn on and I cannot wait to starting using my side hustle income in a different manner, to paydown my mortgage.
Fresh off of a record-setting December in terms of dividend income, I’m ready to hit the ground running in 2018 and make some serious moves. Now that we are comfortably moved into our house and our cash outflows to make repairs and upgrades are shrinking drastically, we should have a lot of additional cash flow available for use in 2018. After brainstorming what the most efficient use of the capital would be, I realized there is an easy change that I need to make with my finances. Like Lanny over the past few years, my wife and I are finally taking the steps necessary to maximize our 401k contributions during the year!
Is it just me or is 2017 flying by?? I cannot believe that the third quarter came to a close! This third quarter was an exciting one for my wife and I and I think we spent nearly every free minute we had together fixing our new house, painting walls, packing (and then unpacking), and finally settling into our first home. It was a stressful process for sure, but man I am excited that it is over. I’ve been looking forward to reporting my dividend income for September because let’s be honest, who doesn’t like reporting their income in the final month of a quarter when their mutual funds pay dividends? Now it is time to check out my September dividend income report. Continue reading
Lanny and I are constantly writing about our pursuit of financial freedom. We invest every dollar and spend every extra minute we can side-hustling to allow us to break the shackles of the 9-5 (or in our case 7 – 6) jobs to pursue our dreams and focus on what makes us happiest in life. The dividend and side hustle income will allow us to cover our regular living expenses, take the pressures of working to cover these expenses, and unlock those shackles that are holding us back. That’s how you take back the control of your life. Today, I’m going to take a deep dive into one of the largest areas of my personal balance sheet. No, I’m not focusing on the assets for once. Rather, I am going to pull back the layers of our debt and discuss my plan for
reducing my outstanding obligations taking back control of my personal balance sheet.
Time to bust my hands out of one set of shackles. After 48 months of owning my car, with “strings” attached to them, I decided to snip that little thread to be free and clear. I remember every so often, I would look back and think, “I should have never bought my car and taken a loan out to do so”. Well, at least now I have decided to at least take out the last part of that statement there. Goodbye Auto Loan!
We had an insane month of May, no questions asked. We bought a house, we attended a couple of weddings, and traveled to Boston for a graduation. A lot going on! If you recall, in what feels like forever ago by now, I wrote an article about how we were also going to have to purchase a car for my wife since her lease was set to end in May. So on top of all of it, we added buying a car to the mix! This time, something was different, we changed our plans at the last second and decided to purchase our first ever used car. Now, here is the “thrilling” story about one of my least favorite processes ever, buying a car.