With the first month of the year passing by – I’m ready to ramp up my good guy army to pay off this trifling debt! We’re in for some tough battles this year!

Planned Army Statistics by Year (Unchanged from July 2017):

In July 2017, 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 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 in the comments!

Army Updates for January 2018

  • Bad Guys:

    Student Loans of the East
    • Army Size: 29.9K (was 30.2)
    • 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: 8.3 (was 8.5K)
    • 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: 8.4K (was 8.3K)
    • 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 January Update

I began working on a tech gig that will land me $200 in March!

The goal for this year is hitting 3K, I’m definitely behind at this point and without contract hours happening from a client I will have to look to catch up another way. With a busy Feb/March, plus more focus on the blog it looks like this will be put off for now.

Instead – I plan on taking another route. career growth! After researching on the approach to this, some of best articles I found were in ESI’s career category. Stay tuned!

Lessons from January

“Mistakes are lessons in disguise”

Building a Financial Kingdom Requires Sacrifice!!

You can see from this tweet from Feb 1st, that this year is going to be a tough one. My budget already has most expenses cut and travel has been limited.

 

Seeing as it is only February, this might be alarming. Instead – I’m excited!

Many of the greatest challenges in our lives are also the most rewarding…

With the prospects of growing out my career to change the trajectory of my long-term income and also potentially monetizing the blog this year, the only way I can OVERACHIEVE on my goals while enjoying my favorite hobbies will be to increase my income. Learning to do that through smarter side hustling will be an amazing experience, and one I hope to share with you all to do the same.

Red Gerard sums up my mindset for the year

If anyone watched the Snowboarding Slopestyle competition in the Olympics this weekend, you would have witnessed an incredible feat – the USA’s first gold medal in the event.

A 17-year-old in his first Olympic games wasn’t a favorite to win, much like Nick Foles this year.  As he stepped up to the slopes waiting for the go-ahead for his last run, he was in last place from falling his first two trips down the slopes; there was nothing but positive vibes as he shook the hands of his team. He starts his routine and I begin standing up in my apartment, getting closer to the TV.

I watch as he begins the usual routine from his first two runs as he completes his technical grinding moves flawlessly. “GO RED GO RED” as he approaches the jumps. “YOU GOT THIS!”

GOT IT HE DID!!!!! 

The tricks were phenomenal as he landed each and every one of them.

Now we wait for the scores…Red Gerard has moved from last to first place!!!!

See the video here: USA Snowboarder Wins Gold

How does this apply to anyone in the personal finance community this year?

Some months this year may be like those first two runs of Mr. Gerard, where we fall down and don’t hit any goals. We might have a life curve-ball make swing and miss. We might need to use some emergency funds for health reasons. The list goes on…

But we as Dukes of our Kingdoms, will step up to our third run and do what we need to for the gold!!