January was a fun month and one that helped me build a little on my net worth. I had the rare family-funded vacation and spent hardly anything for the first two weeks of the month. Since returning, I have had a couple of expensive evenings out, but in general this month was fairly typical.
New Student Loan Strategy
I made a life list goal of paying off my student loans in 2012. This is going to take a lot of cash every paycheck. In fact, I am planning on $300 from each paycheck plus my automatic payment of $92. Automatic payments give me a .25% discount, so I will not be getting rid of that.
According to the goals feature on Mint.com, I should be paid off in December. Since I made this plan, however, I realized that I would be getting my annual bonus and (hopefully) tax refund both before December. If I put those toward the loan, I should be paid off this summer.
Side Business Income
I have told you to turn your hobbies into revenue before, but I have never shared much about my success in entrepreneurial adventures. In the spirit of trust and transparency, I am going to open that up to all of you in my monthly updates.
Narrow Bridge Media – All blogs and online activities
- Private Ad Placements – $720.06
- AdSense – $18.88
- Affiliate Income – $0 (only reported when I am paid)
Denver Flash Mob – Sponsorships and consulting
I have yet to take $1 from Denver Flash Mob for myself, but because Uncle Sam thinks I made money from it, I am going to share it with you as well. I have a contract pending for a future event, but did not make anything thing month.
My fledgling DJ business made me a whopping $105 in 2011, but that is $105 more than I made in 2010. However, I also spent quite a bit on the startup costs for equipment. I hope to get more paying gigs in 2012, but had none in January.
Net Worth Update
As you can see, things were slightly up this month, but I started making bigger progress on the student loan. I am excited to see it go to zero!
|Assets||$ Diff||% Diff|
|Other Real Estate||$0||$0||–|
|Total Assets||$209,319||$1,447||0.70 %|
|Debts||$ Diff||% Diff|
|Home Mortgage(s)||$102,410||($144)||-0.14 %|
|Student Loans||$6,291||($367)||-5.51 %|
|Credit Card||$684||$105||18.13 %|
|Total Debts||$109,385||($406)||-0.37 %|
|Net Worth||$99,934||$1,853||1.89 %|