Month End: March Snapshot


At the end of March, I’ve come one step closer to being consumer debt free. More importantly, I had a discussion with someone I care about. This person had been a pillar in my life growing up, and a life event changed how I saw him. Unfortunately, even after intervening with him, I found that he hadn’t changed, and I’m wrestling with what do next. It’s in moments like these that I put my trust in God, my wife, my parents, and my close friends. I’m very thankful for what this year has brought despite the challenges.

If you notice, the current balance on my WF line of credit increased by $20 from $4,650 to $4,670 from the remaining balance of last month versus the current balance of March. This increase is due to the annual fee. Most of your personal lines of credit that you may have with a bank or credit union will charge you an annual fee. Honestly, it’s the price you pay for having a line of credit that charges less interest than your credit cards.

This month, I saw my credit score with Transunion increase. This increase is due to the installment loan, the increasing availability of my revolving line of credit debt, my on-time payment history, and the age of my credit. There are three different type of debt that are recorded by the three credit bureaus, and those are revolving, installment, and mortgage. There are different factors that can affect your credit score. An installment and mortgage loan can increase your credit score, especially if the loans are paid with principal and interest payments. If you have a mortgage loan, then make sure you pay it, because having 30+ late payment can adversely affect your credit score. I’m very thankful to what I’ve been able to build up in my personal savings. I believe you should aim to have three months’ worth of income saved up.

If you want to learn more about how I’m increasing my income while reducing debt, or if you want to have someone to discuss your debt reduction strategy with, or if you need me to check your financial pulse then, contact me.

Also, learn more about how I use the self-lending principle through contacting me

This month’s video is Secrets From a LIFEHACKER | This Is What They Don’t Want Us To Learn (very illuminating!) 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.”
‭‭‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬Deuteronomy
28:12
NLT‬‬
‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬http://bible.com/116/deu.28.12.nlt‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

I believe in your journey to….

A Debt Free Me

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Month End: April Snapshot


Honestly this month has been a month of miracles. I honestly believe because my wife and I honored God at the beginning of the year that He has put favor on our year so far. My wife did get approved for her personal line of credit, so she was able to consolidate down some of her debt. I could do a balance transfer, which is why you see my balances go up for the month of April. Fortunately, I could pay off the Wells Fargo term loan, and my goal is to pay off the Prosper loan by the end of May. If everything goes as intended, then I will have an additional $650 per month in income. This additional income I can use to focus on reducing my debt at a faster rate, meeting any living expense needs, saving to invest, or saving in case of emergency. When you’re creating an emergency savings, save at least one month’s worth of income no more than three months’ worth of income.

Paying off your debts will give you a raise. You’ll begin to be able to realize how blessed you are as you break off the bondage of debt. You also won’t know how much you are losing to compound interest until you really look at the numbers. We didn’t make any sales in our organization; however, I sincerely believe in my team. I believe that once they slowly build momentum, it will change their lives for the better both financially and emotionally. Ask yourself. Are you trading dollars for time? I’m continuing to look for ways to be generous not with my finances but with my time, energy, efforts, and connections. I encourage you to look at the win-win scenario and looking at life through the lens of eternity and legacy. A win-win scenario is helping a friend of mine who was looking to sell a car, and another friend who was desperately needing a car. They were able to strike an agreement that worked for the both of them. Finally, my wife passed her test and is now licensed. This journey was four long years of blood, sweat, and tears. Honestly it was a miracle that she passed. There is a powerful momentum building this year.

If you want to learn more about how I’m increasing my income, while reducing debt or if you want to have someone to discuss your debt reduction strategy with, or if you need a financial check-up, contact me.

Also, learn more about how I use the self-lending principle through Mustard Seed in the mustard seed section.

“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.”


‭‭Deuteronomy28:12NLT‬‬


http://bible.com/116/deu.28.12.nlt
‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

I believe in your journey to….

A Debt Free Me

Here’s this month’s video: THE TRUE GRIND – 30 Minute Motivational Speech Compilation from the Motivation Archive YouTube channel.