It can sometimes feel like the more you do to try to get out of debt, the deeper into it you sink. This, by the way isn’t your imagination. Interest accumulates each month when you carry debt over into the next.
If this describes your current situation, you’re probably wondering what to expect when you can’t pay your debts. Well, in most cases, it looks like this. Continue reading
The following post is a guest blog post from one of our good friends, Taylor, and he offers a unique perspective about student loans and will provide some great tips about taking out student loans! We don’t traditionally have these, but we always enjoy reading a different perspective and other avenues to take to become Financially Free! Please see the post below and we thought it could be for something of consideration:
Student loans are unavoidable now that the college fees are skyrocketing and with students wanting to get in the top-ranked colleges. However, when students take loans, it does not end there because then there is the matter of loan repayments. If you take out loans wisely and with some tips in mind, you may be able to manage them after graduation. Please see the following article for more information about student loans.
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!
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.