This post was featured in the Carnival of Pecuniary Delights at AlmostFrugal.com.
The non-blogging life of Matt Jabs…
For the past two weeks I have been preoccupied with two very different things. The one… has been a very calming and fun adventure, while the plain dreadfulness of the other has brought me continual feelings of stress and anger. These two polar opposite events have been… camping and conficker (the virus), respectively.
While I have not been able to update Debt Free Adventure as much as I would have liked, the good news is… I still HATE MY DEBT!
And THAT, Ladies and gentlemen, is why it is time to fire up…
The Debt Steamroller
Simply put… I am on a mission!
A week from now My debt free adventure will enter its 9th month! Although I have not been able to pay down my debt as fast as I would have liked, things are looking very positive from here forward and I am confident the goals can still be reached. Why so optimistic? Because my passion does not wane, and because DebtFreeAdventure.com has begun earning a very nice side hustle income!
Here is a breakdown of those earnings along with a few other reasons why I am still faithful that The Debt Steamroller will roll over the Jabs family debt by my goal date of 12/31/2009!
- I’m Earning Extra Money – DebtFreeAdventure.com is quickly becoming an awesome side hustle that is allowing me to earn extra income. One of the goals of this website is to help me earn more money to put toward my debt repayment. Up until July of 2009 the amounts I had been earning were negligible, but over the last 2 months have grown into something worth mentioning… and then some. All told, from all my online writing endeavors I brought in around $300 for the month of July and am looking to bring in around $600 for the month of August. Up until now I have not used any of this income to repay my debt, i have simply stashed it away in my ING Direct “Side Hustle” savings account for safe keeping. That my friends… is about to change!
- Dwindling Unplanned Expenses – The unforeseen expenses that we have been hit with are nearly a thing of the past. I have about another $1,700 to pay toward the original $6,100 (Jeep accident among other things) and will then be able to return all my available resources to debt repayment and emergency fund savings. Although unplanned expenses are always unplanned… I am placing my hope in the fact that I will not have much more of them before the end of the year! Keep your fingers crossed.
- Continued Expense Reduction – We have successfully lowered our monthly bills by hundreds of dollars. Some of the ways we have done this include:
- Canceling our satellite TV service which has been saving us $76/month every month since May of this year.
- Reducing our grocery costs by employing our now famous “Grocery Hacks.”
- Making our own dishwasher and laundry detergents saves us more and more every time we use them.
- My wife has been cutting my hair since the end of April. The clippers have already paid for themselves so we are saving around $20 every cut now.
- I reduced my trash bill from $15/month down to around $1/month by going to a “per bag” payment method.
Honestly, I could go on and on with the ways we have cut costs but will simply state the truth: we continually look to reduce our living expenses in every way possible. Contrary to popular belief, this is not grievous but is actually quite liberating. Simplifying your life is something many people view as a huge “sacrifice”, but something others view as a blessing in disguise.
- Maintaining Discipline – Sure, it may be easy to cut expenses and curb spending for awhile, but maintaining those disciplines for the long haul is another story entirely. We have been able to stay on track and do not see that changing anytime soon. Why? The fact is… we enjoy our lives more now than when we were spending more than we earned! There are a lot of reasons we prefer the changes but I’ll narrow it down to the joy received by getting our financial house in order, by implementing a giving strategy, and by shifting our focus to being good stewards of what God blesses us with. These three things in particular have helped us realize the err of our old ways and make maintaining our new lifestyle not only a cinch… but actually a blessing in and of itself!
Excitement is in the air folks!
In light of the former information, my wife and I are very excited. The alluring taste of being free from our high interest debt has entered into our mouths and has caused us to salivate copiously in anticipation of the incredible satisfaction it will deliver once supper time arrives!
I don’t know exactly how it will happen, but I stand firm in my confidence that our debt will be gone by the end of this year. According to the scriptures, I can see that God does not desire us to be in debt, and in light of these truths, I believe He will be faithful in helping us reach the desires of our heart. Is it possible that it may take longer? Yes, of course… but at this point I will remain faithful and confident that the “debt elimination graph” in my sidebar will be at 100% by 12/31/2009!
If you like this article please remember to sign up for email updates, subscribe to my RSS feed, and/or follow me on Twitter.
DFA is passionately dedicated to helping people break the bondage of debt & work toward financial freedom using biblical principles.
{ 5 trackbacks }
{ 14 comments… read them below or add one }
Hello!
Very cool Blog, this is my first visit. I read a comment you left on Baker’s blog and thought I’d mosey on over to yours!
Great article, and I’m fired up too!
.-= Keith´s last blog ..Weigh Anchor! =-.
Awesome Keith. Bakers blog is a must read. Now I’m heading over to check yours out too.
Good for you, Matt. Some people would be discouraged, but you have a great positive attitude. I’m pulling for you, buddy!
.-= Corporate Barbarian´s last blog ..8 Things that Will Get You Fired =-.
Good to see you are back and fired up! I’m very interesting in seeing where DFA and your own journey out of debt go the rest of this year. This has got ME fired up too!
.-= Baker´s last blog ..Leveraging Social Media: My Journey To Untangle The Web =-.
Sounds like your positive attitude and of course extra income will go a long way towards helping you reach your goals. Good luck! I’ll be looking for more updates!
.-= Flexo´s last blog ..What’s Important to You in Healthcare Reform? =-.
It will be an awesome thing when this debt amount hits $0 by 12/31/2009!
Your excitement is contagious Matt! Keep up the great work and enthusiasm for reaching those goals. From what I can tell you are having a big impact on others thru your experiences.
It is good that you are doing something with your situation. Some people prefer to brood and blame life for their misfortune. We are responsible for the happening in our life and we are the ones who can fix it.
I salute your discipline and determination.
.-= Walter´s last blog ..Elements of a Distinctive Blogger =-.
Hey Walter, if you like this… then you’ll love my FCN article about Personal Responsibility!
Cheers.
Keep up the enthusiasm Matt- it’s infectious! You’ll have all your debt paid off in no time!
.-= Peter´s last blog ..Finding The Best High Yield Savings Account: Rates, Features And Ease Of Use =-.
Matt,
“Debt Steamroller” I love it! With this can-do attitude, I have every confidence that you will indeed be debt free by 12/31/09.
By the way, I just read your “testimony to the tithe” and was inspired by your testimony, not simply toward tithing but toward your life in Christ.
.-= Joe Plemon´s last blog ..How Do Your Friends Affect Your Finances? =-.
Just found your blog after listening to your audio interview on Consumerism Commentary. Well done on achieving your goals. Looks like you are zooming ahead. Look forward to hear more updates.
.-= Save Money Hound´s last blog ..How to save money online with coupons Part 2 =-.
@Joe: Thanks Joe, the math doesn’t add up, so I’m just looking to obey the Word and give the Lord an opportunity to show Himself STRONG!
@SaveMoneyHound: Welcome. I really enjoyed doing that interview w/Flexo and Tom.
Peter Luke Baptiste on nothing short of a con man. If you are having financial trouble or are in bankruptcy, or foreclosure DO NOT call him. He is a predator who will stop at nothing to mislead his clients. He has dreams of wealth, but only for himself. The lawyers he structures his schemes with have already or in the process of being disbarred by the Law Society. He is currently under investigation for fraud. I am a financial planner and I’ve seen the results of his “programs”. Clients are essentially robbed of their equity and forced evicted from their homes.