0

About Me

Blog

Contact

Home

How I Have 5 Income Streams

This post may contain affiliate links. Check out my Disclosure Policy for more information. It really is hard to only have one source of income now. It just doesn’t cut it for most people anymore. I know for myself, as a teacher, it definitely doesn’t. Especially when you haven’t received a raise in 2 years. If it wasn’t for living at my parent’s house and having multiple income streams, there is no way I’d be able to afford everything. My salary just doesn’t support the cost of living in New Jersey. Luckily, I have paid off $127k of my debt, so my minimum payment has gone down. When I first started my financial journey after grad school in 2015, I added multiple income streams out of necessity. I didn’t have a choice. Even with living with my parents, my budget was in the red or just barely in the green with just my salary. So, in 2015, I started brainstorming how I could make extra money as a teacher. I was a first year teacher and totally overwhelmed just from my teaching job. But, I needed the extra money if I ever wanted to pay off my debt. I had to make […]

Why You Need Multiple Income Streams

This post may contain affiliate links. Check out my Disclosure Policy for more information. Gone are the days of working one job forever and retiring with a nice pension. It just doesn’t happen for us millennials. Our reality is that most salary jobs don’t cover cost of living with our debt. But, we also can’t rely on one job to always be there. Our world is changing so fast that it no longer is enough to be a good employee. Companies grow and fail at alarming rates now. We can’t count on our jobs to always be around, like our parents did. That’s why we need multiple income streams. This gives us piece of mind and money coming in. It also gives us some nice flexibility in our work and our location. I personally have 5 income streams I can count on regularly with a variable income. On top of that, I have countless other income streams that randomly bring in money. 1. You aren’t relying on one income source with multiple income streams. Having only one source of income is risky to me. Even if you’re in a job that you consider super secure. You just never know what will happen. […]

How to Navigate 6 Figure Debt

This post may contain affiliate links. Check out my Disclosure Policy for more information. 6 figure debt is no joke. And I’m not talking about a mortgage, I’m talking about all the other fun kinds of debt that are out there. I’m 27 years old and had $201k of student loan debt to my name once I graduated as a teacher. Yeah. You read that right and yes, I was stupid to take out that much debt to become a teacher. I’m well aware now. But, that doesn’t get rid of my debt. I’m at the point now where my debt doesn’t feel so overwhelming. It definitely makes my budget trickier, still having a minimum payment of $1,100, but it’s a lot better then $2,000. And now that I’ve paid off $127k, the process is moving much faster. I’m now in the 5 figure debt club. This was absolutely something I celebrated. 5 figure debt is so much better than 6 figure debt. And it was right around my half way mark too. I’m at the point now though that it’s frustrating to think about the things I could have done with this money. I could have bought a house in cash […]

How to Get Quick Debt Relief

This post may contain affiliate links. Check out my Disclosure Policy for more information. It took time to get into debt, so of course it’s going to take time to get out of debt. But, there are things you can do to experience quick wins to get you some debt relief. When you are feeling completely overwhelmed by your debt, sometimes you just need to free up a little cash flow to feel better. I know when I hit my financial breaking point, I was totally overwhelmed. When my student loans went into repayment, I’d have a monthly payment of $2,000. And that was just the minimum, on a teacher’s salary. To say I needed some debt relief was an understatement. I remember being in grad school and having no idea how I was going to afford everything. That’s when I started getting into personal finance. I started looking at my situation differently. I stopped thinking about how much debt I had. The only thing I thought of was how to get my cost of living down and paying down my debt. You need to stop thinking about what you can’t do in your situation. What can you do right now to […]