Conflicting influences

I’m listening to both, minimalism podcasts and entrepreneurial podcasts.

The later focuses on going for more, creating abundance, working your ass off, hustling, becoming financially independent, and things like that. Don’t get me wrong, I want to create financial independece and break free from the corporate rat-race, but I also want to have more of a work-life balance.  I don’t want to live to work, I want to work to live. My current arrangement is more of a work, work, work, and live a little type of deal.

On the other hand, minimalism focuses on going for less stuff to get more, I really don’t want to get sucked into the mindset of chasing money or things forever for the sake of making money. Minimalism has made me realize that I want to become the type of person who works but also has time to focus on what’s important. In other words, I want to be able to focus on what brings value to my life, but I can’t get there unless I first push the ball uphill long enough to get over the hump.

As I had written on my last post, it is important for me to have a location-independent business and help my wife achieve the same so that we can have the freedom to go visit her family (she’s from out of town) and stay there for a week or two every year, then go visit my brother in Houston and stay there for a week every year. All in order to be able to not miss out on our most important relationships and not feel guilty that we are missing work. If we can work from anywhere, that would be amazing for us.

How am I planning to do that? Well, I started listening to minimalism podcasts and most of the podcasters I’ve listened to, have -at one point or another- said they achieved their independence by getting rid of debt using the snowball technique, by cutting down on their spending, and by having a savings plan that works for them. That’s part one.

Part two is saving for an emergency fund of 3 to 6 months of expenses, not monthly income, expenses only. I have done the math, and I know it will take until the end of the year for me to save that amount.

Part three is saving for my location independent business. I need about 32 grand to do that. I have also done my homework and that’s the number I got.

Here’s the math behind it:
1) I have a debt of about 20 thousand. Paying 500 a week, it will take me 40 weeks, or 10 months to get rid of my debt.

2) Saving 200 a week for 48 weeks, it would be 9,600 plus a 12% interest at the end of the term, equals to 10,752. I’m currently in my 28th week, just over 50% of the savings plan. At the end of the plan, I would be 740 shy of my 3-month emergency fund.

So basically, it’s uphill from here to january, after that, things will start to level out. It’s a work in progress, but the ball is definitely starting to roll in that direction.

Anyway, if anyone has any feedback or advice, I’d appreciate it greatly.

-Tonix

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