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 Capital One 360 “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!
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