Debt free.

Discussion in 'Off-Topic' started by MSP, Aug 5, 2012.

  1. tex

    tex jive turkey

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    We just moved a bit ago and knocked about $1k off our monthly expenses (although that added a 2nd mortgage,) that plus rental income from the old house means we should be sitting pretty come the middle of next year. The last 2 years I piled on a pretty good chunk of debt (probably $50k+,) but I'm in it for the long game. We're on our way to be able to retire at 35 if want =D Hopefully only working 60 hours weeks for a few more months

    For building the "next generation" at work, my last 2 hires were actually a comm major and a music major, it is way too damn hard to each people writing/communication/personality, the technical part is easy to learn. Still though, one article doesn't make a trend, english majors are still pretty unemployable =p

    Also my buddy was able to pay off almost $100k in debt in about 3 years with an entry level job, talk about busting ass. I think he is making something like $20/hr? (not sure if those numbers add up (using the standard 2040hrs/yr) but he lives like a total pauper)
  2. mistawiskas

    mistawiskas kik n a and takin names

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    That's how we did it at first. It was like living in a third world country. Then, as we got better at it and found new ways to provide for our needs, it got better. After the first year, we got good at it and
    started to realize that we were bringing in more than was going out. then work escalated when I picked up my contractors licensing again and we were able to put more to the debt and pay it down increasingly faster. At first, it seemed impossible and would take forever. What I didn't realize, was that all those accounts that had interest tacked onto them, added up to a huge escalation in capital that didn't go towards paying anything on the principals. It wasn't any one account that caused difficulty, it was the combined lump of accounts. Paying off the debt was a matter of reversing the trend. As one account got paid off, the remaining accounts paid off quicker. The temptation to splurge had to be overcome. Then spending on almost only the needs became habit and easier.
    I don't live like a pauper now, but I also don't spend frivolously either now.
  3. Commissar Smersh

    Commissar Smersh 2020 Staff Member

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    You should hire Sparky. Or me. :p
    Sparky says thanks for this.
  4. tex

    tex jive turkey

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    I'm actually trying to hire a girl right now for an ops manager position, her background is advertising. God forbid we ever hire someone with an IT background (I have an associates in comp sci and one of the owners has a BS in CS, I think we're the only two with any formal education in computers...and I'm not sure how much my degree counts)
  5. MaesterB

    MaesterB King of the Wicker People

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    Just got a nice bump in my salary due to the extra burden of doing EVERYONE ELSE'S F'IN JOBS. :) And the new VP did it retro-active to the beginning of this year, so August, I'm getting a big chunk of change, and then the rest spread out as best it can be in 4 to 5 months. :D

    This may be the first time in awhile that I get ahead of the curve without having to refinance my mortgage or tell my wife she needs to charge more for her daycare. :) Plus with all the penny pinching we're doing now, we're saving money, while debt is being whittled down.

    Come December, when the annual bonus comes along, and then income tax in 2014...I'm thinking I might take the kids to Disneyworld. :) Or mexico.
  6. JZL

    JZL Ministry of Whack

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    Invest in their retirement instead.

    Get in da chawppa NOWWW!!



    And, yes, I said "their retirement."
  7. bigwill51534

    bigwill51534 Saint, Church of Ryanism

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    [​IMG]

    ~Will Courtier~
    MaesterB and Sparky said thanks for this.