While most people awoke the morning of January 1st, 2020 — blissfully unaware of the dumpster fire ahead — I awoke in a panic.
No, I was not some psychic capable of predicting the horrible events of 2020, I awoke in a panic because of another number.
After a major repair on our aging car, moving to a new city, going a month without a paycheck, and two years of poor spending habits, our credit card debt had ballooned out of control.
On January 1, 2021, exactly 366 days later (2020 was a leap year) that number was $0.
I get it.
You hate your job. You wish you could do something more meaningful with your life. You want more freedom, blah, blah, blah.
If it were 2015, I’d probably say something like “Quit your job! Follow your dreams! Who wants to die shackled to their cubicle?”
When I left my full-time job to do God-knows-what, I even low-key bragged about it.
Many of my projects don’t yield positive financial returns. But the growth I experience and the knowledge I collect by challenging myself with new projects is an investment in myself.
Do you know what happens when…
Expect the unexpected. That might be from a car commercial, it might also be the single most important piece of advice you can drill into the malleable minds of a young adult, fresh off the adolescent conveyor belt.
Without getting too sciencey on you, the Universe is hellbent on causing as much chaos as possible. It’s called entropy and more commonly known as the Second Law of Thermodynamics which states that in a closed system if no energy enters or leaves the system, the potential energy of the state will always be less than that of the initial state.
To many, budgeting is a tedious task of number crunching and filling out spreadsheets. To some, it brings about a sense of existential dread and the sad realization that money never seems to stick around for long.
But budgeting, when you think about it, is nothing more than personal accounting. And accounting is derived from accountability. “If you are going to be rich,” says Robert Kiyosaki, author of the bestselling Rich Dad Poor Dad series, “you need to be accountable for your money.”
Budgeting then plays a huge role in your financial security. If you’re going to be rich —…
It was my first day of self-employment, I had just walked away from my corporate job a mere hours earlier and found myself on a video call with a potential client who needed a new website. I pitched them my ideas, we discussed deliverables, and settled on a timeline.
Then came the question: How much do you charge?
It’s a question every freelancer wants to hear but dreads answering.
In a split second, I did some quick math in my head and gave them a number.
“Okay, we’ll think about it and get back to you,” they answered.
I have this habit of texting my accountant friend Alex anytime — and I mean anytime — I stumble across a money thing I don’t quite understand. Being that he’s an accountant and a money nerd and my friend, Alex is prompt and knowledgeable in his response (which is my nice way of saying brevity isn’t one of his strong suits. Sorry Alex 😊).
However, this past weekend found Alex, his wife, and her family on an exotic vacation far from the modern wonder of wifi (lucky him) and conveniently cut off from my meandering money mind.
I, however, found…
There’s no lonelier feeling than telling your friends and family that you aren’t “going back to your desk job” because you’ve decided to go forward with your entrepreneurial plans.
“But what about a steady paycheck?”
“How will you pay for health insurance?”
“Are you sure?”
Sure, they were all for you chasing your dream and pouring your free time and energy into your 5-to-9, but when it finally came time for you to make the jump, their encouragement dissolved into doubt.
Folks — especially young folks — who buck traditional career trends and set off on their own into the…
It might happen sooner rather than later. You’ll finish up a project with a client and they’ll pop the question: “Can I pay you in Bitcoin?”
As a solopreneur you know how important it is to get that next check, but what if it’s not a check? What if it’s not even real money? What should you do?
Bitcoin is over 10 years old at this point and rocks a $1.1 trillion market cap at the time of writing so it’s no longer that weird thing your cousin Jimmy keeps talking about. …
I’ve spent the past 15 months paying off over $30,000 of consumer debt. My wife and I are relieved that we’re no longer shackled to nearly $2,000/month payments anymore. Needless to say, when I hear the word debt, I don’t feel warm and giddy inside.
There is a lot of stigma around debt in today’s society, which should come as no surprise. Household debt in America has ballooned to over $14.2 trillion, nearly $93,000 per household.
Most of that is consumer debt, aka buying things we don’t need with money we don’t have.
However, debt is a tool and it’s…
The black metal box wasn’t a safe, per se, but for 15-year-old me, it protected my entire net-worth nevertheless.
The day I cracked three figures, I kept opening and closing my little black box, counting and recounting the cash inside, exhilarated that I had finally earned more than $100 from my lawn-mowing operations. I called up my friend Steve’s house (this was pre-cellphone days).
“Get your bike, we’re going to Joe’s Card shop.”
“Be there in 5.”
We peddled our way to our favorite store, the one that sold sports cards and memorabilia. I blew all $100 on Topps…