Month End: February Snapshot

It looks like the government has approved a third round of PPP loans, which is great for small businesses. However, for me it’s a flashback of last year, and I’m beginning to realize that 2021 is looking a lot like 2020. It feels like 2020 the sequel. I may have spoken too soon in believing this year would be better. Jill’s grandfather left some money for both her sister and her. If we ever reach the status of everyday millionaire, then yes, we will say that some of our wealth was inherited. It is because of this inheritance, that I can say that we have a fully funded emergency fund. I asked her to consider throwing this money toward the debt, but this idea was quickly declined. In this process, I learned that having your spouse in agreement on your finances even if it’s not in every area is more important than having it done your way. The point is, we talk more openly about our finances than even when we first started getting to know each other. This month I used our PayPal line of credit to purchase a new monitor for the room that we use as an office. This monitor will keep me from having to bring monitors back and forth from work, and it’s time to have something that is strictly ours. Using this line, I’ll be charged 0% interest for the first 6 months as long as it is paid off. My plan is to pay it off in two months. The way I look at it is if you cannot pay for it with cash immediately, then you must be able to pay it off in two no more than three months. After everything I’ve been through, I hate all forms of debt. Debt robs you of your income, and your income is your greatest wealth generating tool. Wealth is a measure of time. If you had a set amount of income coming in every month, how long can you live off it? Remember wealth is a measure of time.

Although, we didn’t use any of the inherited money to pay off debt, we did come into agreement about me removing some money from a savings account to assist in completely paying off the Capital One auto loan. We now own our car debt free!!!! This car that we purchased two years ago had a six-year term, and we were able to pay it off in two. I had hoped it would be in the next few months and yet now it happened within the first two months of 2021. This month I also closed out a checking account that I had for many years, because I want to bring our finances even closer together. It’s the beginning of something that is ours, and the end of a period of my life where it used to be just about me. Now we can move on to my student loan. How hard is your debt free journey?

If you want to learn more about the self-lending principle or if you need a financial check-up, then contact me.

This month’s video is Elon Musk Accidentally Reveals His “SECRET HACK” In An Interview from the Video Advice YouTube channel.

“The LORD will send rain at the proper time from his rich treasury in the heavens and will bless all the work you do. You will lend to many nations, but you will never need to borrow from them.”


I believe in your journey to….

A Debt Free Me


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