Changing Circumstances

When I started this blog in 2009, I was broke and in debt to my eyeballs.   It began as a way to publicly hold myself accountable and vent my need to talk about my money problems.

Those needs are changing for me because my circumstances are changing.

When my mother-in-law died, she left us a big physical mess in her house, but the financial picture is coming out nicely.    Even though the details and paperwork have been horribly scattered and difficult to piece together, the end result is significant.

I have 2 side businesses that are not generating enough money to quit my day job, but should be by this time next year.

Right now, I have just under $17,000 in credit card debt.   By Monday, it will be $3500.  By December, it will be gone.

We’ll be dropping $15-20,000 into modernizing the house we’ve inherited, but then we should be able to rent it out for a net profit of $800 per month.

We paid off the inherited car last night.  We haven’t decided if we’ll keep it or sell it.

All told–by the end of the year–we’ll have no debt except our primary mortgage and the additional income stream of a rental property.  By the end of next year, our mortgage may be gone.

That’s a significantly different place than the one I started in 3 years ago.

What’s it mean for Live Real, Now?

It’s hard to talk about paying off debt every day when you don’t have debt.   I imagine I will post more about making money and increasing the top line rather than shrinking debt and reducing the bottom line.

What’s next?  I’m not sure, but I do know that I won’t be going away.  You’re stuck with me.   What would you like to see?

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    1. Good job on the URL choice — it’s not called “get out of debt now” — you can still live real, and tell your stories.

    2. I think a good mix of different topics is always nice. Making more while learning to cut back in other areas or how you decide what to add back to your budget that you once cut. Should be an interesting journey and I look forward to reading!

    3. I’d love to hear about your new adventures (especially in landlording since we will be doing that too starting in October). I haven’t been reading for your debt stories, lol. I read because you are hilarious. Not-in-debt you will probably be hilarious too. 😉

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