As Mrs. Mase and I have continued our financial journey together, we’ve set some pretty big goals for ourselves. One of these is being completely debt free. We’ve made some great progress thus far in the past two years, but there’s this one pesky loan that’s bothering us – our mortgage! I know people have conflicted opinions on this topic, especially in the personal finance blogosphere, but we’ve determined that owning our home free and clear is super-important to us. Therefore, we’re going all in. I recently applied for a job at a pizza place down the street from us, and it looks like I’m going to start working as a driver soon. It’ll be mostly on weekends, during the evening, so it will align well with my current work and school schedule. Apparently there is big growth within the industry, particularly in my city, so there is a great need for drivers.
Over the past few months I have been deep in thought about what to do to earn some side-income for my family. Being an engineer, I tend to analyze everything and this case was no different. Then, I had a realization. This past weekend my wife and I met a young woman who related to us that she was looking for a part-time job. This was a young girl who really had some bills to pay, and she needed to get some extra work in order to make progress in her financial life. She had started budgeting and watching her money, but by her speech and tone of her voice I could tell that it still wasn’t really cutting it.
By listening to her story I realized that I should just go for something that I know I can do rather than twiddling my thumbs trying to find the “optimal” solution for increasing my income. There are tons of people out there who hustle and work part-time on the side, even if the job isn’t that glamorous. What really motivated me to get off of my butt and fill out an application was by connecting with why I wanted to do it. In my mind I just visualize the Mrs. and I combining our paychecks and just throwing chunks of money at our loan, with the number eventually going to zero. Visualizing the end of the journey with the mortgage being paid in full just excites me so much when I think about it. Not only that, but I can imagine the peace that we’ll both feel when all of our paychecks are truly our own, and not just going out the door to pay other people. Then, we can really give back in big ways, both to others and to ourselves.
I’m also excited about implementing an investment program for real rather than just reading about dividend stocks throughout the day. Now, could we throw this new stream of income into investments? Sure, it certainly wouldn’t be a bad idea (let’s be honest, I splurged on some Coca-Cola stock last month). Even before doing that, we will likely save to move up in house, eventually. But I believe in making the game of life easy – kill off the debt first and then put great focus into building up cash-generating assets (and allowing yourself to spend some extra money here and there). People often talk about the benefits of diversifying – we can’t forget however that focus is also very important (more on this in a future post). Anyhow, I’m really excited to get going at my new job. It’ll feel good to take action and accelerate the progress that Mrs. Mase and I are already making. It’ll just bring us to our goals that much more quickly.