It’s been eleven days into the new year and I’ve made over seven-thousand dollars. Not bad. It’s in line with my goal of earning twenty-thousand dollars a month. Let’s not kid ourselves though, I did get lucky to achieve these numbers. This is obviously not sustainable, for now. New years opens up my CPR training part of my business to a slew of nurses and doctors needing their two-year renewal of certifications. Naturally, my double income jobs play a role in this earning potential. Also, my Amazon selling business is going well with everything in-stock and no new inventory expenses. My student loans are still on pause and life is good. But does it always stay that way? Of course not. I may have even jinxed myself by sending this out to the universe. For this reason I have to keep my winter mindset and prepare for myself for a time when all I have to rely on is my business.
Pay off debt or pursue new products? My product sales totaled over one-hundred thousand dollars last year and makes up over 90% of my business income. Over the last few years I’ve been searching for new products to sell or create them myself. It takes a lot of capital to make and market a product. Sometimes they fail or I won’t see any returns for over a year. That’s why I think I want to just lay low this year and ride out what I’ve accomplished thus far. I want to focus on getting my debts down. Decreasing my monthly expenses allows me to survive on less. That being said, paying two-thousand dollars a month on loans will turn into paying two-thousand dollars a month back to investments like bitcoin. I’m really examining my financial statements and see that I’ve mostly spent money on experimenting with product ideas. If I decide to keep it lean and spend with vigilance, then I think I can undo years of bad financial decisions and bad luck in one year.
Becoming debt-free has become somewhat of a dream for me as of late. Perhaps the allure of reducing my American lifestyle in pursuit of the humble traveling sabbatical is growing steadily in my heart. I’m turning 36 and there are still experiences I want that require a strong, fit body. I do intend to sell, give away, and toss many of my belongings this year. I want to start that transition of minimizing my life. I have too much crap. You probably do too. Sell big items on OfferUp, sell clothes on Poshmark, and eBay any collectibles. Start thinking of people that deserve and will get a lot of value of things you own. I want everything I own to fit in one backpack. Get ready world. Here I come.