If you have $700 in cash living in a third world country where this money is 3x the minumum wage of a worker living in the city. More than a year’s salary depending on the region in agricultural towns, what would you do? You don’t pay rent, but you have a lot of debt, more debt than what this $700 can pay off.
How would you invest?
June passed by so fast! And while I was able to catch up on some monthly bills. I’m behind on savings, and I still need to earn more. I know that I need to do this, but for some reason it feels comfortable right now, so I’m not trying as hard.
Any suggestions on how to form habits or how to earn more on side hustles? I’m all ears.
I think I’ve had this blog for a week! And even with the small change of talking about my finances and lifestyle, already makes me feel like I’m starting to claw my way out of the ground. As I’m thinking about my situation, I have such a long list of goals, plans, ideas, budgets, strategies. But to be completely honest, I don’t think I can fulfill all of them if I tackle each of them at once. Remember how I said I’m going to focus?
So instead of changing my lifestyle drastically in order to keep a budget, I’m going to start with 1 small change each week.
Next week, 3 habits I’m going to build would be:
- Save on Mondays
- Spend on Fridays
- Track Expenses
I think these habits would lead up to being a prioritizing saving over other expenses. Keeping and maintaining a budget, and also knowing where my money goes. It’s steps I need to take to better strategize in the upcoming weeks.
Wish me luck! and keep me accountable guys!
I mentioned that I got laid-off/quit because my previous employer never paid me on time right?
That event is big… because I’m in debt and will turn 30 this year. But It’s great because it makes me feel so uncomfortable, I’m pushing myself to the edges. With that said, here’s some quick rants on what I’ve learned so far as I try to be self-employed.
Read your Contracts!
– So many companies use templates from the web, that they fail to change basic info such as location, names etc. This is of course a no-go.
– Negotiate the terms. I’ve been talking to a prospective client for over a month, it seems like it’s going somewhere, but I’ve never in detail told them basics of getting paid. In order to compromise. I’ve accepted the NET-30 payment terms they suggested, but reiterated that I need a deposit before I even start anything.
Big Lesson of the Day:
During the ‘dating phase’ of getting consulting work, make sure to be very clear about your payment terms. Put this in your project proposal! So that when it comes down to signing contracts, there will be less amendments.