Today is Tuesday, April 18th. Yesterday I wrote a post explaining my intentions. Today, I need to take my first steps.
Step One: Release Some Assets.
I own a lot of domains because I get fleeting ideas and I'm bad about snatching up the domains and then never moving forward with the overall idea. I'm going to join the GoDaddy Auctions program (Like $5) and see if I can sell off some domains I own before they expire and maybe grab some quick cash.
I sold my watch website (What Kind of Watch) this morning for an agreeable amount of money. This frees up some time and resources I have and gives me some immediate liquidity, which is needed at the moment.
On the physical end of things, I've got my wife eBaying some knick knacks we have and I'll be craigslisting some furniture we have but don't need.
We want to move up the road a bit to some smaller (but nicer) apartments that cost roughly the same as what we're paying now but will give us more 'bang' for our buck. We'll need to get rid of some superfluous stuff in order to fit into the new apartment, but instead of giving it all away or throwing it all away, we might as well sell it and apply that money against our debts. Which segues me nicely into....
Pay Off Debt
I'm going to be using the "snowball" method, popularized by Dave Ramsey. In order to keep track of my snowball and help me calculate my debt-free timeline, I'll be using this spreadsheet (which you can download) that I found after Googling "debt snowball spreadsheet". According to that spreadsheet I should pay off my first credit card ($467 balance) in 5 months, and by 2019 I'll have my car paid off. This is assuming my earnings don't change (they will).
Once my debt is paid off I'm going to split my (now) extra income each month between aggressive saving and aggressive investing.
To help augment my income, I'll bet setting up an affiliate site based around Golf and start putting out some articles. I used some of the funds from the watch site sale to purchase the EasyAzon plugin (which is super valuable for affiliate sites), and I'll be checking around ClickBank for some golf related products. I'll be sure to do some video content when it comes to setting up the affiliate site.
Immediate Goal: Pay off $467 credit card.
Vision Intersect: Be debt free.
Immediate Goal: Set up an affiliate site.
Vision Intersect: Live full time on an affiliate income.