$90,000 – Choose your car wisely

$90,000 – Choose your car wisely

All figures in this article are my best estimates based on vehicle miles driven, miles per gallon, and current gas prices ($2.49).  These numbers only include my professional working career which began in August of 2004, and my wife’s career which began in the summer of 2006. I’m the proud owner of approximately 13,005 gallons of gasoline. I don’t own a gas station, nor did I install tanks and a pump in my back yard, as some type of bulk purchase savings plan.  In fact, I only still possess around…

What have you been up to?

What have you been up to?

Today, I’d like to a chance to provide some updates on past projects or themes that we’ve discussed on this blog. Related: Student loans, why I could have paid them off but didn’t. Debt Demolition:  We currently have two loans, a student loan, and a mortgage.  Currently, we are focused on paying down our mortgage in order to obtain a home equity line of credit.  This will allow me greater flexibility in pursuing my real estate investing.  During January and February of 2017, we have only made the minimum payments…

Real Estate Income Report – February 2017

Real Estate Income Report – February 2017

My real estate portfolio currently consists of 6 rental units.  The monthly reports highlight the income and expenses associated with each property as well as the total monthly profits or losses. February 2017 House 1: $950 House 2: $825 House 3: $850 (+$25 late fee) House 4: $850 House 5: $850 House 6: $650 Total Income: $5,000 – Ahh, if only that was all profit.  Now for the expenses. Mortgages / Loans: $2,913 This number should remain the same throughout the year. Repairs: $0 Utilities: $0 Insurance: $196 One property had…

Would you throw cash in the trash? You probably are!

Would you throw cash in the trash?  You probably are!

Have you ever been a scavenger? Kids do it naturally all the time, just this week, as I took my classes outside to enjoy the record warmth, I was presented with all manner of junk.  I received a lacrosse ball (approximately 5 times, as this ball was continually re-found, after I placed it near the door), a crushed soda can, some type of plastic plug, and a golf ball.  Kids naturally find things, their imagination naturally assigns value to these objects. I’m not a big scavenger at the age of…

To save $1,800 – How hard would you work?

To save $1,800 – How hard would you work?

Once, I bought a house. This house came with a tree. Ordinarily, I like trees, but this tree and I do not get along.  Its a wild mulberry tree, which means it grows extremely fast, several feet in one year, quickly negating any trimming.  This tree, grows in a fence row, in the alley beside my property.  The alley is only a walkway, about 3 fee wide, its no place for a tree. Two or three years ago, this tree had branches rubbing against my house and roof.  Not good….

$3,600 for the Right to Work!

$3,600 for the Right to Work!

Have you ever placed a bucket under a facet with a slow leak, just to see if it really matters? I have, and that bucket was full every time I checked.  One little drip, every few seconds equates to a lot of water over time.  If you have holes in your financial plan, money is dripping away and filling someone else’s buckets!  When I saw an article headline stating that American’s have $3,600 per year dripping down the drain, I immediately grabbed some buckets and headed out the door looking…

A Squirrel in the Kitchen

A Squirrel in the Kitchen

In our backyard grows a century old Scarlet Oak. This tree provides abundant shade for the yard and patio while also serving as a squirrel hotel.  The money maker in me would love to charge these little fur-balls a nightly rate, but anytime I bring up this subject, the squirrels hide in the branches and attempt to hit me with acorns.  At this point in our standoff, I’m resigned to observing their daily routine while hoping for a breakthrough. As I watch them gather acorns, hide them in various places…

Some taxes are optional

Some taxes are optional

I awoke, much like I do every morning, and will hopefully, continue to do for the foreseeable future.  I put my feet on the floor, stood erect (inspiring envy from countless evolutionary ancestors), and traversed across the house using a bi-ped motion. I walked. What an exciting skill.  Using my feet I can easily move my whole body from one place to another.  I wondered if this worked outdoors?  I gingerly stepped outside, delightful; I thought, as I experimented with various surfaces, pavement, concrete, and grass.  Soon, I grew apprehensive…

Ask How?

Ask How?

Everyone has different goals and lifestyle expectations.  For me, achieving financial independence is high on the list. Not because I hate work, or because I’m manically trying to accumulate as much money as possible, but rather because I want to pursue my passions without concern to their monetary reward. Others may feel that my goals create a restrictive depressing life which eliminates all fun.  While some others may be fine living paycheck to paycheck and burning through cash like a sparkler on the fourth of July! I’m not here to…

Debt Avalanche vs. Debt Snowball

Debt Avalanche vs. Debt Snowball

How my wife and I lowered our student loans by $40,000 in one year, on a teacher and physical therapist income. Suddenly, I keep hearing reports that interests rates may be headed higher, since economic forecasts are less reliable then your local weatherman, I’m not to worried, but it does make for a good time to analyze any debt payoff strategy. Personally, I have shifted focus away from my student loans and towards my mortgage, both have low interest rates, but by reducing / eliminating my mortgage, I could accelerate…