It’s the beginning of the month and you know what that means? Free ice cream! No, no silly. It’s time to check out my finances, see how I much money I made online and basically for me over share about my month until you fall asleep.
I’m busy writing this post on the bus this month because I promise you that I cannot find the time to do it at home anymore. I don’t know where the time goes, but I suspect that it has to do with that big block of time that I waste at this thing called work every day. Yes, I’m disgruntled, but I’m working on it. On to finances.
For those of you who might be new to the blog, I share this information with you every single month. The entire purpose of this blog as the tag line says is to “dig my way out of some serious debt”. I believe in being an open book because, honestly, we are so secretive about money…unless you’re a nouveau riche rapper with lots of bling-bling. We’re even more secretive about debt and it doesn’t have to be that way. That and I’m secretly an exhibitionist at heart. There’s nothing more nekkid than laying your debt out for the world to see and comment on, I guess.
So, let’s get nekkid!
When I spoke about my debt looking like the Swiss Alps last month, some of you commented that I was doing myself a disservice by not listing my assets. Ding! Light bulb. I never really thought about assets before because, honestly, aside from one Calvin Klein dress that I’m going to be buried in, my car and a measly 401(K) account, I’ve never had any assets to speak of. Or, I didn’t when I began this process. That’s right folks. I had over $120K in debt and had nothing to show for it except two degrees hanging on my mom’s wall and a car in the driveway of a house that was not mine.
Suffice to say, I owe even more now, but I actually have some STUFF on the asset side. In fact, I’ve actually flipped from a negative net worth and I’m in the positive five figure range. When did that happen?! Just goes to show, sometimes when you’re so focused on the debt, you forget about what’s happening with the assets.
It also goes to show that you never be so consumed with your debt that you don’t save, build a retirement portfolio or purchase appreciable assets. I believe that this is a critical error that we tend to make once we’ve decided to get out of debt. If you ever get anything from this blog here it is – if your employer offers matching funds in your 401K plan, contribute at least enough to get the matching funds. It’s free money, and I don’t see anyone else standing by to hand you money every time you get paid just for saving.
I killed it last month! Part of this was from a reimbursement that my employer owed me and part because seeing my debt climb to such high levels scared me. I can’t deal with the stress of knowing that I owe that much. But, I do have to be honest here. You don’t see the mortgage on the rental property listed here on purpose. The reason is that since I’m using the proceeds of the mortgage to pay off the 401K loan that was originally used to purchase the rental property, I didn’t want both debts which is for the same property to show up twice. But don’t worry, it’ll be there next month like clockwork and the 401K loan will be gone freeing me to flee the soul consuming job. Progress is slow but steady.
Now that all three rental units are rented, each house is essentially paying for itself. I have had one hiccup with one of my tenants, but I’ve taken care of that problem. All I can say is that if you ever plan on being a landlord, you have to do that whole walk softly and carry a big stick routine. I was ready to evict one of my tenants at month two of occupancy, but you’ll have to read that story on My Tenant from Hell. Except for one outrageous ($450) water bill, the bills are falling in line with what I expected. Just think, in another 1.5 years or less, I will own one house free and clear. I also just realized that my car is worth exactly what I owe on my two rental properties. Sweet, sweet priorities. Smack me later.
Alright, let’s see if how much, if anything, I made online in September. Keep in mind that I might have earned it, but I might not yet been paid for it. I am reporting the net amounts here to give you a realistic view of how you too can make money online. I’m not a genius at it or anything, so you can be much more successful than I am.
Google Adsense How to Kill Bed Bugs: $0.76
Google Adsense Super Secret Niche Site: $68.50
Google Adsense Shirataki Noodles: $0.75
Google Adsense My Tenant From Hell: $0.04
Google Adsense YIAC: $138.27
Private Ads: $341.27
Sponsored Tweets: $6.67
Ad Site #1: $111.00
Ad Site #2: $42
Other stuff: $2.00
That’s a pretty good amount. 🙂 I’m hoping to get back to making at least $1,000 each month. I’m working on building an e-commerce site for a client which should be completed this month. After paying out a few sub-contractors I’m hoping to net $1,000. We’ll see how it works out. It’ll be a busy, busy month but who needs sleep?
I participated in a roundtable for a Two Guys And Your Money podcast. Average Joe and the Other Guy (OG) put out a quality show about money every single week. This week’s roundtable was about the cost of raising a family. My article entitled Don’t Have Kids If You Can’t Afford Them pushed buttons when I told readers to stop having kids if they were struggling in debt and I brought that same advice on to the show. It seems as if most of America has taken my advice since birth rates are down for the third straight year in a row. Download the podcast and listen in on your commute. It’s funny, informative and just damned good. Bonus: when you think that the show is over, let it continue playing. Shh! Our secret.
Final piece of business. I’ve been writing this blog for years now and the four of you reading this stuff must be absolutely tired of me by now. So, starting this month, you will see an occasional post from Nelson, who is runs his own blog called Financial Uproar. Nelson is smart, funny, and he takes no prisoners. Plus, it turns out that a full 50% of my readers, that would be two of you, are men! You must want a man’s opinion on things occasionally. He’ll balance out my touchy-feely nature and you won’t want to walk away from your computer screen with an urge to wear pink.
If you look all the way up to the top of the blog, you’ll see a writers tab. There might be the occasional contributor here or there as well. This doesn’t mean that I’m leaving you! Not at all. It just means that writing on the bus is hard and you deserve more frequent articles. Because of these new additions, I’ll be listing my blog expenses beginning next month. It’s only fair that if I list the blog income, I should list the expenses as well.
As always, feel free to e-mail me at email@example.com! I read all of your questions and answer them to the best of my abilities. If I don’t know something then I tap my fellow financial bloggers on their virtual shoulders and ask them to weigh in.
Finally, how many of you are saving while trying to get out of debt? Scroll up a little and take the poll to the right. I appreciate all four of you for reading.
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