December 2017 Army Updates – TGWOD – Learn From My Huge Automation Mistake!

great war of debt - 270x250

With the holiday season passing and the new year beginning – I’m ready to ramp up my good guy army to pay off this trifling debt! Here are my updates from December for the war on debt.

Planned Army Statistics by Year (Unchanged from July):

In July, I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into August updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal.

Have a suggestion? Would love to hear it!

Army Updates for December 2017

  • Bad Guys:

    Student Loans of the East
    • Army Size: 30.2K (was 30.4)
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 433 men
    Auto Loan of the West
    • Army Size: 8.5 (was 8.6K)
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 160 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 8.3K (was 8.6K)
    • Growth Rate: 1.0% (Capital One360 savings)
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income for November Update

I didn’t have any income from side hustles in November but will be working to continue on my January gig, plus look for new opportunities for the new year. 2018 will have a huge focus on side hustles and side income, hoping to share any lessons learned with you all!

Lessons from December

“Mistakes are lessons in disguise”

My Huge Automation Mistake That Cost Me Debt Savings!!

Automating your finances gives you extra time to focus on other hobbies and actions. It helps you achieve savings or retirement goals by not having to make the self-discipline decision each month and reduces the extra maintenance when managing your finances. All of these are great benefits….unless you make a dumb mistake like I did this month.

Quick Background Story

Recently I decided to purchase a new phone due to an upgrade on camera technology and overall performance. I utilize the convenience of phones through many apps and set mine up to enhance productivity. The phone was in total, $685, a pretty big chunk but I took the offer from our phone company – an interest-free 24-month loan.

Some may disagree with this decision since one philosophy states we should only use cash for purchases, but a new phone without changing my budget was my main deciding factor. Plus, purchasing a new DSLR camera cost more than the phone so after looking through some mental models and making a final decision, it arrived a week later!

Setting Up Automated Payments

Let’s start with credit cards. Both of us Dukes have made BANK from sign up bonuses and points within the credit card point systems. Since we track our expenses, we make sure to never spend more than we can pay off at the end of the month, meaning we haven’t paid interest on any credit cards opened.

Typically with a new card or loan, I head straight to the online site, make an account, and sign up for full-statement automatic payments. Easy-peezy.

With the new phone loan information sent over, I headed to the account and entered the necessary information to do the same thing. “Full statement payment each month” check!

The full statement of my phone was not the monthly payment…

Waking up one morning to a new email notification of a large charge happening in my bank account, I check to see the date to make sure it’s just rent being paid. Welp, it was not the end of the month when the new rent check is usually mailed. Instead, it was a $685 “pending” charge being withdrawn from the loan distribution company – only that it wasn’t pending. The charge had posted!

Surely, this was a mistake because I didn’t want to pay the full loan balance, only the stated monthly amount. I assumed (you know what happens when you assume right?) the statement balance would be the monthly payment of $25. Not so. The statement amount was the remaining balance! Seeing as this was my first month paying it, that meant the full phone was now paid for!

Lessons from the Automation Mistake

  1. Double check how the automation works for new accounts when setting it up
  2. If you’re going to pay for your phone in full, do it with your credit card so you at least get points
  3. Be thankful for your financial habits that let you adapt by transferring over some savings and salvaging the month!

In actuality, I was able to save around $300 for my student loan pool in December. It doesn’t show in the chart due to having to transfer the $685 out!

Concluding Thoughts

Overall the holidays have been great at the Duke of Dollar Kingdom. We’ve updated our site and goals for 2018. There are some posts in draft-mode waiting to be published and our first guest post on the site is coming next week!

I’ll be updating the investment plan above with actuals. There’s a new category to be added to my plan, aka HSA – adulting means adapting. Adapt with us and win the war!!

How has your debt war been going? How are you doing as we approach the end of the year? Have you ever made an automation mistake? Let us know in the comments!

November 2017 Army Updates – The Great War of Debt

great war of debt - 270x250

Happy holidays Dukes!!

With the FCC ruling coming up and the holiday season in the works, I’m still ramping up my good guy army to pay off this trifling debt! I did great in November on saving in my student loan pool and will begin in the new year with the alternative strategy posted about previously.

One huge takeaway from November? Prioritizing money, happiness, and family. Where in the world do they fit together and how to make the best decision based on that priority? Find out more below on my first take, as I will definitely be posting a blog about this in December.

Planned Army Statistics by Year (Unchanged from July):

In July, I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into August updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal.

Have a suggestion? Would love to hear it!

Army Updates for November 2017

  • Bad Guys:

    Student Loans of the East
    • Army Size: 30.4K (was 30.7)
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 433 men
    Auto Loan of the West
    • Army Size: 8.6 (was 8.7K)
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 160 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 8.6K (was 7.9K)
    • Growth Rate: 1.0% (Capital One360 savings)
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income for November Update

I didn’t have any income from side hustles in November but lined up a tech gig for January.

Fortunately, I did receive a wonderful $200 check from a doctors office for overpaying, this was due to my effort to rectify a long-winded insurance situation. It only took me around 90 minutes of effort, meaning it was well worth it! December will bring the full story via blog post to you – can’t wait to share!!

Lessons from November Update

Priorities

Have you ever had to help out your parents, siblings, friends, or other family members with money? 

I’ve been fighting the decision on whether or not to include this into the blog but after Jack shared about his ridiculous parents, I felt it would be helpful to eventually share some lessons from mine. Learning from others can boost your wisdom in the world! We’ve talked about Warren Buffet’s documentary on the blog as a great example.

With that being said, how to prioritize will be the second of the two blog posts planned in December after this one for me, while Jack finishes up the HSA series for the roadmap.

The high-level view is that each month, we all have situations that potentially require your budget to be changed to meet them. How does one make these decisions? Three times this year acquaintances have asked for money. I would absolutely love to help everyone in this world, so I find it difficult to say no, yet it is required.

Why is it required?

My family and real friends are my priority. If I were to give away money to anyone who asked, then when my family or friend needs help – there will be no help to give!

Secondly, where do early retirement and personal goals fit into this decision? Is money a tool to help others or help your self or both? It depends. What are your goals and what is your timeline? Does this change either? These are definitely part of that decision because we do have the self-serving bias, and also a future self to consider.

I’m not going to dive into my full philosophy on this update. I do use the following questions and also a hard look at my goals to decide on when and when not to give money to someone who asks for it. We’ve said it often on the blog, our reason for starting it is to help people – our reason for obtaining wealth, the same!

Check out our post on direct charity and also help us fight the FCC!

Concluding Thoughts

How has your debt war been going? How are you doing as we approach the end of the year?

Thank you for reading!

Chris @ Duke of Dollars

October 2017 Army Updates – The Great War of Debt

great war of debt - 270x250

It feels as though it has been awhile since writing to you all. Well that’s because it has been for me :).

Great to be back fellow dukes, the last two months have been absolutely hectic with traveling around 8 weeks of the last 10. It was quite hard to stay up to date on everything with the blog, but thankfully Jack helped out with a few articles and picked up my slack.

I missed updating you all on my September progress, but no worries, I will add those numbers to the charts and skip the lessons for you. Instead – see the lessons from October and let me know if you have any tips or how you are doing!

Planned Army Statistics by Year (Unchanged from July):

In July, I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into August updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal.

Have a suggestion? Would love to hear it!

Army Updates for October 2017

  • Bad Guys:

    Student Loans of the East
    • Army Size: 30.7K (was 32.2)
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 433 men
    Auto Loan of the West
    • Army Size: 8.7 (was 9K)
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 160 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 7.9K (was 7.7K)
    • Growth Rate: 1.0% (Capital One360 savings)
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income for October Update

October brought in ~$200 again in side income from a side tech gig. I prefer to use side hustles in the form of technology because higher hourly pay makes the side hustle worth the time. I’d love to get a more study work-load here, making a consistent amount each month. A part-time website hustle or another type of part-time contracting gig that pays enough to make it worth my time would be great!

We haven’t really focused on monetizing the blog – do you have any thoughts on reasons we should? We would love to hear some feedback on how you think we’re doing so! Writing as a passion and for enjoyment has been enough for us the year.

Lessons from October Update

Biggest lesson – money vs convenience

During my travels, there were times where it would have been absolutely more convenient to take an Uber to various sites to see. I decided against this most of the time. Why???

Time vs Money

Saving time would be taking the Uber instead of taking trains/buses/subways. This one is against taking public transportation because it is simpler not and most of the time faster. A direct ride from point A to point B.

The deciding factor here, of course, is the cost. Public transportation will most likely cost you less. One example – taking the train to the airport was $10. Uber? $35. Is that $25 savings worth the time and effort required to find the correct train, drag your bags (if you have any), and pay attention to make sure you’re going to the right train? It depends.

Adventure vs Boring

I prefer the train route for both reasons.

Boring

Yes, the Uber means getting to put your headphones on and checking the app to make sure your driver is taking you the right way. It means, not having to navigate an unfamiliar train station. It means you have a nice boring, but an accurate path to the airport by the time based on the app’s estimates.

If you’re in a time crunch or just plain tired of being Columbus in a new city, then, by all means, take it. I’m not judging you :).

Adventure

Taking the trains in an unfamiliar place (especially in a country that doesn’t have English as their first language) is surefire that an adventure is on the horizon. Even the simple process of buying a ticket can be confusing to a first-timer.

I thoroughly enjoyed doing this, as it made me really feel like I was embedding myself into the culture of that country.

This does indeed save money but does take more time. Depending on your hourly rate (if you’ve ever calculated it), then it may not actually be cheaper. But let’s be honest, how many of you all are productive in an uber? Watching funny Youtube clips or scrolling through Facebook doesn’t count!

Lastly, when you take the train (not necessarily the subway), you get the opportunity to see parts of the city on the way to the airport. It is quite beautiful.

Traveling on the low

Airbnb

Save money by using Airbnb for your stay. Check out their reviews and also look for super-host. I prefer this as it saves money and you see how the people in that city actually live. I’ve made a few new acquaintances just from talking to hosts and learning their story. It’s wonderful.

Public Transportation

I’ve talked about this above – by taking public transportation you can really save yourself cost from not renting a car or taking taxis/Ubers everywhere.

Who doesn’t want to feel like a local blending in on the bus or tram as everyone speaks different languages around you.

Free activities

Cities are full of activities for tourist like walking tours or sites that don’t require a payment to see. You can always book skip the line tickets or look for Groupon deals also.

My splurge in various museums are the audio multimedia guides. I’ve learned so much more from them then just walking around without a guide  to give me some details on what I’m looking at! Totally recommended!

I failed to not go shopping this year!

I stated in July that I would not be going shopping during my Debt Free war. I have bad news, I did. I bought clothes while traveling to stay warm as the weather was colder than expected. Secondly, I bought a few new outfits for the gym as some of mine were old, like from the high school years old.

I hope you can forgive me – the battles continue and overall this year I’ve won them! I look forward to eventually winning the war in the future!!

Concluding Thoughts

How has your debt war been going? How are you doing as we approach the end of the year?

Please share any tips or suggestions for me or any updates on your own war. If you want posts via your inbox – subscribe to our pigeon service.

Thank you for reading!

Chris @ Duke of Dollars

August 2017 Army Updates – The Great War of Debt

great war of debt - 270x250

Planned Army Statistics by Year (Unchanged from July):

In July, I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into August updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal. Have a suggestion? Would love to hear it!

Army Updates for August 2017

  • Bad Guys:

    Student Loans of the East
    • Army Size: 31.2K (was 31.5)
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 294 men
    Auto Loan of the West
    • Army Size: 8.9K (was 9.1K)
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 117 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 7.7K (was 7.5K)
    • Growth Rate: 1.0% (Capital One360 savings)
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income for August Update

August brought in ~$200 side income from a side tech gig. I prefer to use side hustles in the form of technology because higher hourly pay makes the side hustle worth the time.

Blogging is the abnormal case for me here, because personal finance + wanting to impact the world are passions, in other words, I really enjoy it. See 10 of our takeaways from our first 10K views!

Lessons from August Update

Biggest lesson – always be prepared and adapt to mistakes

If you create an annual budget, with the mindset of adapting and changing it due to life, then one important characteristic of the planning phase – know which months are three paycheck months.

If you’re paid bi-weekly, these happen when the 1st of the month is on a Friday, and that Friday is your pay day.

I for some reason budgeted for three paychecks in August but miscalculated as it wasn’t.  I was able to adapt the budget to meet this, and also change forecasted savings/expenses for September based on the new income.

Summer months – Lifestyle inflation

Throughout the Summer months, lifestyle inflation is real! Entertainment adventures are everywhere, From invites to summer road trips, or seeing live music. Visiting neighboring cities and packing up snacks for a trip to the beach. The fun can add up. If it wasn’t for my love of nature walks and reading books from the library, it could have definitely hampered the good guys in the war.

A yellow van riding over the sand with the blue ocean water and blue sky in the background.

Next year, I will look to either curb a bit of the money spent here or better prepare for it by saving a little for the fun.

Overall, it was worth some of the budget misses as the experiences were so memorable with celebrations of life achievements. The good guys still increased, while the bad guys didn’t. That to me means the war still leans in our favor!

Concluding Thoughts

The Summer comes to an end and Fall begins to creep up on us. How was your Summer spending? How are you doing as we approach the end of the third quarter?Please share any tips or suggestions for me or any updates on your own war. Thank you for reading! Join the war!!

Please share any tips or suggestions for me or any updates on your own war. If you want posts via your inbox – subscribe to our pigeon service. Thank you for reading!

July 2017 Army Updates – The Great War of Debt

great war of debt - 270x250

 Army Statistics by Year (if recruiting goes well):

Last month I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into July updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal. Have a suggestion? Would love to hear it!

Army Updates for July 2017

In my original post, I stated that I’d be sharing spreadsheets with my plan. It was decided to use graphs and tables instead as they are more visually appealing! If you are in need of a loan amortization spreadsheet or of help to create a debt free/investing plan – contact us!

  • Bad Guys:

    Student Loans of the East
    • Army Size: 31.5K
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 294 men
    Auto Loan of the West
    • Army Size: 9.1K
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 117 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 7.4K
    • Growth Rate: 1.0%
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income Update for July 2017

July didn’t bring in any new side income opportunities. The blog has been keeping me pretty busy along with working 60+ hours a week. I’d love to turn in some of the writing into free-lance work, or potentially monetize our blog in the future. I’m not in a rush to do either, although writing has become a new hobby I truly enjoy.

Lessons from July 2017 Update

This year I received my first bonus as a full-time employee, my biggest lesson from it: use it for both your financial goals and to reward yourself for hard work. For me, I bought some new furniture for my space (used of course)! I’m pretty excited about it since it had been so long since doing so. It wasn’t much – only 10% of the bonus.

For me, I bought some new furniture for my space (used of course)! I’m pretty excited about it since it had been so long since doing so. It wasn’t much – only 10% of the bonus. The rest? Loan pooling it up!! I was able to add ~$700 to the savings account that brings me closer and closer to the goal!

Overall July was a great month. I had no idea 401(k) money was taken from bonus checks, so that will give me a boost for the year on completing the 18K contribution goal. I was able to add a small deposit to my IRA as well. I’m currently ahead of schedule for my debt free journey and on track to max retirement accounts for the year. It’s a great example of why tracking is so important. THE FEELING IS AMAZING. Seeing a goal, planning for the goal, and executing on a goal – few things in life match the blood boiling feeling of seeing sacrifices pay off. Join me in hitting our goals this year!!

July Update - Baby screaming with text "Let's hit our goals!"

Concluding Thoughts

The battle of July was won by the good guys in terms of numbers. The good guys grew, the bad guys shrunk. If the good guy’s strategy continues, the barbarians have no chance in the long run! The army of the north is sure to win the war!

Please share any tips or suggestions for me or any updates on your own war. Thank you for reading!

Join Us – The Great War of Debt Has Begun!

great war of debt - 270x250

The Great War of Debt

It has been decided by the council of our debt free leaders, war is upon us! What kind of war? The great war of debt – we must rid our land of these greedy barbarians taking our gold each month! Since January 1st, 2017 – I’ve been continuously sacrificing to prepare our kingdom’s greenbacks for the battles ahead.

Intelligence Briefing

After our FIRE Side Chat with the Green Swan in June, we want to begin sharing more of our stories towards FIRE with our readers to show we are following the road to the kingdom!

Here’s a snippet and my intro from the post:

“I’m the younger of the two authors: a recent college graduate who endured financial hardship during those years. My parents, who provided for me throughout my life, were in trouble. This instability at home meant I had to get a job, change my mindset very quickly, and start adulting! I went from caring about Xbox Live to instead working so I could pay for my college education. I sought to stabilize my financial environment and also to become a steward of my own time. Both of these mindsets have been the driving forces in my life since, and I’m hoping to inspire the younger crowd to hop on the bandwagon early. The sooner you start on your financial journey, the easier it is to take control!”

Now join us at the round-table to discuss our current situation (balances as of June 30th) and strategy.

Bad Guys:

Student Loans of the East
  • Army Size: 32K
  • Growth Rate: Avg of 5.5%
  • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 294 men
Auto Loan of the West
  • Army Size: 9.2K
  • Growth Rate: 5.5%
  • Weakness: Sickness infects the army to reduce its size by 117 each month

Good Guys:

Loan Pool Savings of the North
  • Army Size: 6.8K
  • Growth Rate: 1.0%
  • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

I’m currently implementing the student loan pooling strategy mentioned here: Student Loan Payoff. Once I feel it has grown to a sizable nest egg, then I will begin making extra payments like the third alternative solution in that same article. The loan pool gives an extra cushion in case of a real emergency that depletes the emergency fund and then some. I’d prefer to keep that extra cash than make extra payments; because, once that extra payment transaction completes, the money is lost but my cash flow has stayed the same.

The State of Affairs

Preparations:

Purpose

Why am I making the sacrifice to remove the bad guys from my future kingdom?

  1. Widen my moat -> I’m a recent college graduate without kids, this means fewer responsibilities aka more money can be dedicated to the cause. Secondly, If I were to lose my job tomorrow, the monthly skirmishes continue and my resources dwindle. I feel that debt correlates to less power over my kingdom, contrasting the philosophy of being the CEO of my life. With an emergency fund leveled up, my current moat is filled with water, but missing the finishing touches like crocodiles guarding the kingdom against the barbarians taking its gold reserves.
  2. Family -> Being debt free gives my future family as a husband a stable financial environment. We’ve mentioned before the common knowledge that money tension can lead to high divorce probabilities, yet having two parents can truly increase a child’s chance of success as a productive citizen. I hope to reduce divorce probabilities with my future wife, instead of arguing, I hope to be building our family’s wealth together; teaching our children about money in the process!
  3. Save Money -> The longer it takes to pay off the debt, the more interest I’m paying on it. Down with the debt!

These are the three driving factors, along with a few others, that give me the motivation required to eventually have a “PAID OFF 43K of DEBT in 3 YEARS” post! This is an important requirement for making a dream (or goal) come true in my humble opinion.

Budget + Plan

We’ve written about the process for creating a budget in the past, and as upholders to the path us Duke’s travel, I have refined mine to one that works for me. The budget helps keep me on track to get the debt paid off, with a bit of life enjoyed in the process. Further, I’ve created a 5-year investment plan for myself to help paint vibrant colors of the future. Between maxing my retirement accounts, paying off debt, and traveling, the plan is to pay off all debt by the end of 2019.

I’ll be giving a better visualization of my progress in monthly updates – stay tuned! With a budget and plan – it’s easy to see how each sacrifice you make leads to earlier completion. Numbers don’t lie and that’s why I’m a huge personal finance enthusiast!

Wardrobe

After college, I gave myself one year to create my professional wardrobe. Straight from college into the corporate world meant that a professional wardrobe was required. Perception is a reality in the workplace. Utilizing sales + regularly visiting the clearance racks, I was able to build up a presentable closet to reduce shopping trips required during the war.

Strategies:

“If you don’t sacrifice for what you want, what you want will be the sacrifice!”

No shopping!

I’ve self-imposed a shopping ban from 01-2017 to 12-2019 (or earlier hopefully!).

What’s eating out?

Let me be honest, eating out at a restaurant with unique food can be one of life’s great experiences. Chefs train to demonstrate their ary, letting us enjoy their life’s work; I’d be remiss to never take on that honor. This leads me back to our EXTREME DATING! post, highlighting that even though I won’t be splurging on an extreme date just yet, I will occasionally enjoy some ethic variety. For the most part, brown bag lunches with cooked dinners will be the go to.

Explore the library!

My commitment to acquiring knowledge won’t be stopped. Our city libraries will be explored with many new classics being read. I can’t wait!

Travelling

Credit card hacking will continue; By credit card hacking, I will still be traveling some during the war. I say this to precursor some of the expenses shown for the monthly updates. People can disagree with me on this one, charging me with cracking down on all spending. Life isn’t just about money and as a young adult, this is my time to live life and explore the world. I will continue to do that as I work to live, not live to work!

Recruitment

In addition to Duke of Dollars, side hustles will become more regular for me. I’ll be working to find other ways to recruit new greenbacks to accelerate the war in my kingdom’s favor.

War Plan + Timeline

Mentioned above, my investment plan and budgets are estimated. My current estimates show that my debt free journey can end by the end of 2019, [potentially earlier depending on my side hustles and sacrificing. I’ll be posting updates with more detailed explanations of the army, how I’m deciding on its battle tactics, and fighting tips to once and for all annihilate the barbarians!!

Join The War!

Are you currently working to become debt free? Let us know by commenting below. Jack and I both would love to support and encourage, and I would enjoy insight to new war strategies. If you’re interested in getting updates via your inbox from our express pigeon service, subscribe today!

To catch up on all posts on the war, we’re using the category: The Great War of Debt.

We look forward to taking down the barbarians once and for all!

Thanks for reading! Chris @ Duke of Dollars