2011 was a big year for me. I secured a contract gig that I love, freeing me from the chains of a corporate lifestyle. In that process I learned what kind of luxury life as a freelancer can bring – and the disaster that a financial dry spell can cause. I learned how to “hustle” – and in the process, learned that I can make as much money as I want. Somewhere in there I made a few poor decisions, which led me back to my parents’ house.
This, though, is not a bad thing.
I’m now living rent free and pay for very little of my own food. My expenses are greatly reduced. My lifestyle has also finally stabilized, enabling me to seek out more contract work. See where I’m going here? Less expenses than before and even more work.
I initially wanted to be able to move out of the house by early summer. This would, however, still leave me paying minimums on credit cards and with enormous student debt. After setting a few goals and making a few lifestyle changes (which will all be future blog posts) I realized I could set a bigger goal: be Debt Free by December 2012. That means no consumer loans, no credit card balances, and no student loans. The total amount is a pretty big, scary number (I won’t lie) – but the benefit of walking away from this in a year without those bills will leave me the ability to afford a better quality of life at this point in time next year.
Will I be able to do it? Stay tuned to this series for how I’m protecting my credit, paying down each credit card, saving money and still enjoying life. And as always, I’d love to hear your stories. Have you paid off all of your debt? Feel free to share in the comments!