As kids, we're taught to save. As teens, we're taught to spend. As young adults, we're taught to use credit. And if you're like me, by your 30's you've got interest bearing debts and no savings.
If you're like me, and wanting to get out of that situation, your first thought might be to start saving money. If you had no interest bearing debts, this would be a FANTASTIC idea! But, if you're like me, you've got two maxed out credit cards and a car payment. With all of those lines of credit, someone like me would be commiting a slow financial death if they started putting money away in savings!
Let me explain!
Let's just say for example purposes that my credit cards are both maxed out at $700 each. We'll give them an interest rate of 17%. The minimum payment we'll say is $17.50. It would take you 77 months to pay off just one of these cards, and you'd pay approximately $475 in interest. That's over 2/3 of the balance you borrowed, JUST IN INTEREST!
We can apply the same logic to the car payment, which is also an interest bearing loan. When you look at it this way, you begin to see that keeping these debts around is just like throwing money away. So why would you put money into a savings account that earns less than 1% for you when you're paying 17% on several loans?
The ultimate goal is to start saving. But before you can get out of a hole, you have to stop digging. It makes more sense for someone like me to pay off the high interest debts first, that way over time I'm paying less in interest and can put back even more in savings!
Stop wasting money by saving money! Pay down interest bearing debts as soon as possible. Figure out what loan is costing you the most money in interest. Put as much of your available resources to that as you can until it's paid off. Then, take the amount you were paying on the debt you just paid off, and pay it on the next one in line! This is called Snowballing, and by snowballing your debts you can knock them out quickly, once and for all!
Once your interest bearing debts are paid, now it's time to start saving! Take the whole amount that you were spending each paycheck on debts and put it into a savings of some sort! For me, that would equal $200-each month! After a full year, I've saved $2400!
Knowing that in a year I can save $2400 tells me that I can pay off $2400 of debt in that same year. Make it happen, and build a better life! Pay yourself, not the bank!
Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts
Friday, January 4, 2013
Thursday, January 3, 2013
Snapping....
I've been getting stressed out a lot lately. I think I need some serious Me time. I'm starting to feel like everything is compounding, and I need to walk away for a bit.
Its 9 degrees in Blacklick Estates today. The pipes in the kitchen are frozen, and although they haven't busted, they make it a huge hassle to wash the dishes. The dishwasher feeds off of that line, so it's handwashing time. But since the pipes are both frozen, we have to bring water in from the bathtub to do anything. This is a Major hassle, and even though Sylvia is doing them today, just knowing that it's fucked up is enough to cause me to want to scream. We've been trying to thaw them for a day now, and no luck.
Also, the door to the basement is coming off of its hinges.
I have no money, and couldn't really afford groceries for the house last night, but if I have to rent at the business late in order to keep my kids fed, then so be it. The paperwork for my new job, that I've been working at for 3+ weeks now, just came in for me to submit in order to get paid. I may not get my first check til Feb 1st, and other revenue streams are completely dry. Right now, with the holidays having just passed, no one's beating down the door to the studio, so I'm not pulling in anything right now at all.
There would be some hope in knowing that my overage check would be here soon, as school starts on the 14th of January. They would have to have the check to me in time for me to buy my books....BUT, Columbus State's new policy fucks me on that one. They keep the money at the book store for the first two weeks, then disburse it to you after you've bought the books. They did this to fight people using school as a way to pay the bills, then not going to class. Ok, I'm falling in the "I need the school money to pay the bills" situation right now, and I understand where they are coming from, but this is REALLY fucking me right now.
My dad said he'd send me some money early for my Birthday, which is the 23rd, but it's probably not gonna be enough to cover things.
I'm on edge constantly, and I just feel like it's all against me. If I can get on top of it, I'll be ok. But it'll take me at least a month to get there. During that month, my resources will run completely dry, and I'll have to figure something out. I'm considering selling plasma again, which I haven't done since last time I was in College. I'm also looking for anything I can sell at the local pawn shop to keep something coming in.
I'm about ready to snap. Photography isn't helping me. Time alone isn't helping me. I think I need to just spend a day at the studio working on my own projects and de-stress. I'm gonna try that today, as I'm gonna work on The Metal Shop today as well as Project DIVIDE. I may even work on some of my solo music.
I just need a day away.
Its 9 degrees in Blacklick Estates today. The pipes in the kitchen are frozen, and although they haven't busted, they make it a huge hassle to wash the dishes. The dishwasher feeds off of that line, so it's handwashing time. But since the pipes are both frozen, we have to bring water in from the bathtub to do anything. This is a Major hassle, and even though Sylvia is doing them today, just knowing that it's fucked up is enough to cause me to want to scream. We've been trying to thaw them for a day now, and no luck.
Also, the door to the basement is coming off of its hinges.
I have no money, and couldn't really afford groceries for the house last night, but if I have to rent at the business late in order to keep my kids fed, then so be it. The paperwork for my new job, that I've been working at for 3+ weeks now, just came in for me to submit in order to get paid. I may not get my first check til Feb 1st, and other revenue streams are completely dry. Right now, with the holidays having just passed, no one's beating down the door to the studio, so I'm not pulling in anything right now at all.
There would be some hope in knowing that my overage check would be here soon, as school starts on the 14th of January. They would have to have the check to me in time for me to buy my books....BUT, Columbus State's new policy fucks me on that one. They keep the money at the book store for the first two weeks, then disburse it to you after you've bought the books. They did this to fight people using school as a way to pay the bills, then not going to class. Ok, I'm falling in the "I need the school money to pay the bills" situation right now, and I understand where they are coming from, but this is REALLY fucking me right now.
My dad said he'd send me some money early for my Birthday, which is the 23rd, but it's probably not gonna be enough to cover things.
I'm on edge constantly, and I just feel like it's all against me. If I can get on top of it, I'll be ok. But it'll take me at least a month to get there. During that month, my resources will run completely dry, and I'll have to figure something out. I'm considering selling plasma again, which I haven't done since last time I was in College. I'm also looking for anything I can sell at the local pawn shop to keep something coming in.
I'm about ready to snap. Photography isn't helping me. Time alone isn't helping me. I think I need to just spend a day at the studio working on my own projects and de-stress. I'm gonna try that today, as I'm gonna work on The Metal Shop today as well as Project DIVIDE. I may even work on some of my solo music.
I just need a day away.
Wednesday, January 2, 2013
January 2nd, 2013. Setting Goals, and Resetting Phase 1.
On August 29th, 2011, I posted "5 Year Plan: Phase 1 - Stability And Forward Motion."
Since then, my life has changed in so many ways, but now I find myself needing to get back on track with my 5 year goal. I've got just under 4 years left to achieve it. I'm broke as a joke, and even though some things in my life are far more stable, my biggest struggles right now are financial. It's time to get back on track and restart from Phase 1. So let's retune it for my life now.
Stability.
Ok, well at the time that I wrote the original Phase 1 post, my life was very unstable. I was on the verge of homelessness, and was clawing out of that situation tooth and nail. My living situation is far more stable now, and I'm not relying on my income alone to keep myself bathed and fed. But the problem is that I'm not contributing, and am not furthering my family's financial future in the state I'm in now. It's time to fight again for some financial stability.
I've already got things in place, including school, a 30 hour per week day job, and new revenue streams in development. My student loans will pay my tuition, which will help me gain an education. But they will also give me a decent overage to park in the bank for emergencies, or to pay down debts. Sure, this money is a liability since it'll be a debt that needs repaying later, but it'll be at a far lower interest rate than I'm currently paying on my debts. So it's a smart move to displace a higher interest liability with a lower interest one. These include my car, and a couple of credit cards. I had paid all but one credit card off last year, but my income lost it's stability just after that and I wound up maxing out the one I had paid off and never touching the one I didn't pay off. Now they are both closed accounts, and I've made an arrangement to pay down one of them. The other is in collections. Getting rid of these soul sucking liabilities once and for all is a major goal for this new year.
My car is another. I still owe money on it, even though I shouldn't, but I made poor choices about financing it in order to appease a previous relationship, and am paying the price now. One those credit cards are gone once and for all, it's time to snowball that car loan and get it out of the picture once and for all. My goal is to have the car and all credit cards paid off by years end. Once that is done, I can establish a savings again. Also, 2014 can be focused on cleaning up the nasty trail of unpaid debts I left around the country through my 20's.
I turn 32 in a few weeks. I pledged at 30 that I would be in better shape at 35. I'm running out of time.
Notice that I don't mention my family's needs. Well, I want to get married to Laura asap. The problem is that we've pledged not to get married until we're on better financial ground. This doesn't mean that we'll wait till I've built up a large savings or anything ridiculous like that. Rather it means that we need to be able to pay our bills together. There are certain details that I won't go into, but know that the above steps of eliminating liabilities is a key factor in that financial stability.
Right now, as stated in a pervious blog post, I'm in a tough spot financially. The next few weeks will be likely a 3x-day Ramen diet for me. Not fun, but I will do what I have to do. But in February, things will look a lot more stable. I just have to weather this month and then I can focus on digging out of this hole.
Phase 1 is officially back in action.
Since then, my life has changed in so many ways, but now I find myself needing to get back on track with my 5 year goal. I've got just under 4 years left to achieve it. I'm broke as a joke, and even though some things in my life are far more stable, my biggest struggles right now are financial. It's time to get back on track and restart from Phase 1. So let's retune it for my life now.
Stability.
Ok, well at the time that I wrote the original Phase 1 post, my life was very unstable. I was on the verge of homelessness, and was clawing out of that situation tooth and nail. My living situation is far more stable now, and I'm not relying on my income alone to keep myself bathed and fed. But the problem is that I'm not contributing, and am not furthering my family's financial future in the state I'm in now. It's time to fight again for some financial stability.
I've already got things in place, including school, a 30 hour per week day job, and new revenue streams in development. My student loans will pay my tuition, which will help me gain an education. But they will also give me a decent overage to park in the bank for emergencies, or to pay down debts. Sure, this money is a liability since it'll be a debt that needs repaying later, but it'll be at a far lower interest rate than I'm currently paying on my debts. So it's a smart move to displace a higher interest liability with a lower interest one. These include my car, and a couple of credit cards. I had paid all but one credit card off last year, but my income lost it's stability just after that and I wound up maxing out the one I had paid off and never touching the one I didn't pay off. Now they are both closed accounts, and I've made an arrangement to pay down one of them. The other is in collections. Getting rid of these soul sucking liabilities once and for all is a major goal for this new year.
My car is another. I still owe money on it, even though I shouldn't, but I made poor choices about financing it in order to appease a previous relationship, and am paying the price now. One those credit cards are gone once and for all, it's time to snowball that car loan and get it out of the picture once and for all. My goal is to have the car and all credit cards paid off by years end. Once that is done, I can establish a savings again. Also, 2014 can be focused on cleaning up the nasty trail of unpaid debts I left around the country through my 20's.
I turn 32 in a few weeks. I pledged at 30 that I would be in better shape at 35. I'm running out of time.
Notice that I don't mention my family's needs. Well, I want to get married to Laura asap. The problem is that we've pledged not to get married until we're on better financial ground. This doesn't mean that we'll wait till I've built up a large savings or anything ridiculous like that. Rather it means that we need to be able to pay our bills together. There are certain details that I won't go into, but know that the above steps of eliminating liabilities is a key factor in that financial stability.
Right now, as stated in a pervious blog post, I'm in a tough spot financially. The next few weeks will be likely a 3x-day Ramen diet for me. Not fun, but I will do what I have to do. But in February, things will look a lot more stable. I just have to weather this month and then I can focus on digging out of this hole.
Phase 1 is officially back in action.
Monday, December 31, 2012
2013
Now that that's out of the way…
I'm actually feeling pretty good. I dunno what it is about the changing of a date from one day to another that can fill a person with hope for the new year that lies ahead, but it's likely the feeling of a fresh start that occurs when a new year rolls over on the calendar. So what am I up to this year?
Well, I'm glad you asked.
January is gonna be fiscally tight. There's no way around it, I'm in a tight spot. But no worries, I've got a lot of promise ahead in the very near future. I just have to get over the next few weeks financially.
With that being said, I'm back in school. I start classes in 2 weeks. I'm on academic probation, but it's time to turn that around too. In person classes, a degree change, 6 months away from school to re-stabilize my life…all things that were needed to renew my thirst for an education.
I've also officially launched CLMastering.com as of a few days ago. I've been lighting up twitter building a buzz, and although I've not sold any masters yet, it's good to know that it's now officially available for the public to use. Now to just keep up the marketing…
I've helped Laura start up her own fitness blog too, and now she's blogging and tweeting, and is making it her own! I'm so glad to have helped her get it off the ground!
2013 sees my daughters turn 15, and I'm so excited to see the beautiful young women they are becoming.
2013 is a blank slate and is full of promise. It's time to take that promise by the reigns and make something of it.
Happy New Year.
Sunday, April 8, 2012
Becoming a father.
I've had people tell me in the past that there was no reason I shouldn't be making $60,000 per year. I've been told I've got the skills needed to land a great job by people I would like to think were unbiased. I fear that the circumstances I was born into, coupled with the fact that I have had no idea where to look for such work, have led me to be what I am. Technically I'm unemployed, and I don't have much to my name. I'm skating by on unemployment, and trying to peruse an education so that I can better myself.
For whatever reason I've made my mind up that the life for me is as a self made man, being self employed and completely self reliant. This may be one of the attributes that others saw in me that caused them to believe I should be earning more than a deli workers salary, or that of a call center operator. But considering that most entrepreneurs are generally broke for the first two years of their entrepreneurial endeavor, it's not hard to see me not being on very solid financial ground at this exact moment.
And for a while, the hope and dream that I'd someday be able to live the easy life making enough money to live very comfortably was enough to pacify me. I had a goal, I set a date, and I've been working to make that happen.
But recently, the perceptions changed. I'm going to be a father, and although the children won't have a single strand of my DNA, they will be reliant on whatever income Laura and I can earn. Factor in that both of my daughters have autism, and you see that I've got a lot to provide for. This isn't about me, and this isn't about wanting to live life on a permanent vacation. This is now about Lotus and Celest, my teenage twin daughters who will need lifelong care. This is about ensuring that they are taken care of far beyond my own expiration date, which I hope will be a long time away.
This is about giving my daughters the best life I can give them, at all costs.
I'm about to ramp up my efforts to bring revenues in to the studio, but I know that may not be enough before the money I'm living off of runs dry. I'm going to have to consider that the last two months of living this way may have to come to an end very soon as I am faced with the prospect of needing to find another job.
Meanwhile, I'm hesitant to give in. Sure, finding a job wouldn't be a defeat. It would just be a temporary means to an end, and would help ensure that I could continue where I left off two months ago with getting myself out of debt and building a better net worth for myself and my family. But even if I find another job, and I thrive at that, who says that's a defeat? It may mean I'm not as available as I am right this moment to bring someone into the studio to put down tracks, but it won't mean I'm closing up shop. It may mean that I'll be able to keep a roof over my head while I focus more on the studio on the side, all he while establishing a foundation for a better life for my family.
I don't want to take this road just yet, but I've got to examine the very real possibility that I'll have to do this very soon.
So here I sit right now, doing homework. Accounting homework, when you're 31, is just as boring as it would've been to me at 18. Factor in the adult ADHD and Facebook, and it's tough to keep focused. After all, right now I'm blogging instead of studying, and I have a test tomorrow…..lol.
But something happened today that's strengthening my resolve to fight. I'm actually proud that I've been able to focus, and one thing is getting me through it. My family.
Laura sent me a video today of Celest asking to to go the Aquarium. We're planning to go to the Newport Aquarium tomorrow, and it'll be Celest's first visit there. She found out a few days ago that we were going, and has been begging to go ever since.
Laura today stated to me that this year would be my first ever fathers day as a father.
Here I sit, with an indescribable feeling of joy inside, thinking about my new family and how much I love them. I'm also thinking about how much I want for them, which pushes me back to working. And when I start to get distracted by my ADHD, I look at a picture of my daughters that I took a few weeks ago. It keeps me moving.
Right now, I'm fighting for my family. I have some tough decisions ahead that may be very necessary, but also worth it. After all, now I've got a family to think about.
So back to work I go. Time to fight for my family.
For whatever reason I've made my mind up that the life for me is as a self made man, being self employed and completely self reliant. This may be one of the attributes that others saw in me that caused them to believe I should be earning more than a deli workers salary, or that of a call center operator. But considering that most entrepreneurs are generally broke for the first two years of their entrepreneurial endeavor, it's not hard to see me not being on very solid financial ground at this exact moment.
And for a while, the hope and dream that I'd someday be able to live the easy life making enough money to live very comfortably was enough to pacify me. I had a goal, I set a date, and I've been working to make that happen.
But recently, the perceptions changed. I'm going to be a father, and although the children won't have a single strand of my DNA, they will be reliant on whatever income Laura and I can earn. Factor in that both of my daughters have autism, and you see that I've got a lot to provide for. This isn't about me, and this isn't about wanting to live life on a permanent vacation. This is now about Lotus and Celest, my teenage twin daughters who will need lifelong care. This is about ensuring that they are taken care of far beyond my own expiration date, which I hope will be a long time away.
This is about giving my daughters the best life I can give them, at all costs.
I'm about to ramp up my efforts to bring revenues in to the studio, but I know that may not be enough before the money I'm living off of runs dry. I'm going to have to consider that the last two months of living this way may have to come to an end very soon as I am faced with the prospect of needing to find another job.
Meanwhile, I'm hesitant to give in. Sure, finding a job wouldn't be a defeat. It would just be a temporary means to an end, and would help ensure that I could continue where I left off two months ago with getting myself out of debt and building a better net worth for myself and my family. But even if I find another job, and I thrive at that, who says that's a defeat? It may mean I'm not as available as I am right this moment to bring someone into the studio to put down tracks, but it won't mean I'm closing up shop. It may mean that I'll be able to keep a roof over my head while I focus more on the studio on the side, all he while establishing a foundation for a better life for my family.
I don't want to take this road just yet, but I've got to examine the very real possibility that I'll have to do this very soon.
So here I sit right now, doing homework. Accounting homework, when you're 31, is just as boring as it would've been to me at 18. Factor in the adult ADHD and Facebook, and it's tough to keep focused. After all, right now I'm blogging instead of studying, and I have a test tomorrow…..lol.
But something happened today that's strengthening my resolve to fight. I'm actually proud that I've been able to focus, and one thing is getting me through it. My family.
Laura sent me a video today of Celest asking to to go the Aquarium. We're planning to go to the Newport Aquarium tomorrow, and it'll be Celest's first visit there. She found out a few days ago that we were going, and has been begging to go ever since.
Laura today stated to me that this year would be my first ever fathers day as a father.
Here I sit, with an indescribable feeling of joy inside, thinking about my new family and how much I love them. I'm also thinking about how much I want for them, which pushes me back to working. And when I start to get distracted by my ADHD, I look at a picture of my daughters that I took a few weeks ago. It keeps me moving.
Right now, I'm fighting for my family. I have some tough decisions ahead that may be very necessary, but also worth it. After all, now I've got a family to think about.
So back to work I go. Time to fight for my family.
Saturday, February 4, 2012
Easy Discouragement.
It can be hard to stay optimistic in the face of a job loss, and I've been struggling with that since it happened. But quite frankly, I need to get over myself. I'm human, so I'm allowed to feel self doubt. But the true test is in how well I implement my own life philosophy.
"Shit happens. There's no reason. But the true test of self is in how you handle it."
Some say that everything happens for a reason. I don't believe that, but I don't argue about it with those who do. I just believe that life is random, and that there's no reason behind things that happen. Some look back at things that have happened, and see a good thing that comes as a result of those things happening, but I see them as separate where some see them as the reason those things happened to begin with. Not me. It's random, shit will always happen, and the true test of self is how you handle it.
So now I'm being tested. As a human it's ok to feel some self doubt right now. In fact, I'd worry if I didn't. I'm a human, and I have a ton of insecurities and a ton of self doubt that I deal with.
Last night, dispute telling myself that I was going to be ok, I couldn't escape the feeling that I'd failed. I even had Laura re-affirm what I'd said, which is that in just a few short months I was able to prepare myself financially for a job loss, and now that it's happened, I'm ok for a bit thanks to steps I've taken. I still felt like my goals were out of reach though, but as a human, I'm going to have those moments. That's ok. The future is uncertain right now, but then again, isn't it always? Now it's time for me to knuckle down and really focus on getting my life on the path I want it to be on. Now is not a time to fuck around. But allowing myself the chance to feel what I'm naturally going to feel is also essential, as I don't wanna be the guy who bottles anything up anymore.
I bottled up mom's passing for a decade. It tore me up. I bottled up a lot of things through the years, and they always tore me up. I'm 31, and trying to reprogram my brain to stop doing that. So it's ok to feel self doubt, and it's ok to feel the fear of uncertainty. But they can't rule me.
So to put a positive spin on it all, I was able to make things easier this time around thanks to the steps I put into place. That's a lesson that I need to learn, which states that what I'm doing is working. This means that I was on the right path to financial security, and when my income stabilizes again I need to keep those things in place. Ultimately, this means that I can reach my 5 year goal, and that I shouldn't get disheartened and give up.
So on I fight.
"Shit happens. There's no reason. But the true test of self is in how you handle it."
Some say that everything happens for a reason. I don't believe that, but I don't argue about it with those who do. I just believe that life is random, and that there's no reason behind things that happen. Some look back at things that have happened, and see a good thing that comes as a result of those things happening, but I see them as separate where some see them as the reason those things happened to begin with. Not me. It's random, shit will always happen, and the true test of self is how you handle it.
So now I'm being tested. As a human it's ok to feel some self doubt right now. In fact, I'd worry if I didn't. I'm a human, and I have a ton of insecurities and a ton of self doubt that I deal with.
Last night, dispute telling myself that I was going to be ok, I couldn't escape the feeling that I'd failed. I even had Laura re-affirm what I'd said, which is that in just a few short months I was able to prepare myself financially for a job loss, and now that it's happened, I'm ok for a bit thanks to steps I've taken. I still felt like my goals were out of reach though, but as a human, I'm going to have those moments. That's ok. The future is uncertain right now, but then again, isn't it always? Now it's time for me to knuckle down and really focus on getting my life on the path I want it to be on. Now is not a time to fuck around. But allowing myself the chance to feel what I'm naturally going to feel is also essential, as I don't wanna be the guy who bottles anything up anymore.
I bottled up mom's passing for a decade. It tore me up. I bottled up a lot of things through the years, and they always tore me up. I'm 31, and trying to reprogram my brain to stop doing that. So it's ok to feel self doubt, and it's ok to feel the fear of uncertainty. But they can't rule me.
So to put a positive spin on it all, I was able to make things easier this time around thanks to the steps I put into place. That's a lesson that I need to learn, which states that what I'm doing is working. This means that I was on the right path to financial security, and when my income stabilizes again I need to keep those things in place. Ultimately, this means that I can reach my 5 year goal, and that I shouldn't get disheartened and give up.
So on I fight.
Friday, February 3, 2012
De-stressing.
Now that I've lost my job, it's a stressful time, but it's a different kind of stress than the stress I was fighting when I had the job. I feel largely relieved, if that makes any sense, because that job did cause me some serious stress (compounded by everything else I was undertaking, so it wasn't the job alone). Now, that falls to the wayside, and the stress of uncertainty is predominant, but it's somehow a little easier to take. It feels like a fresh beginning, a new chance to start over.
So now that I've been given the chance to start over, I'm dedicated to de-stressing myself. Stress has been proven to build up plaque in arteries, which increases the risk of heart attacks. I'm 31, and feeling a lot of stress, so if I want to be healthy long term, I need to stop the cycle.
I've been listening to relaxing piano music, taking me-time breaks, meditating, and am considering taking up yoga. Laura brought some dumbbells, a kettle bell, and a jumprope over, and we've been doing exercises (she's kicking my fat ass, cause she works out regularly….I mean LOOK at this….)
(….then look at this, where my stomach is the size of the Great Smokies….)
(……so yeah…..lol). But one thing is certain, whatever I do to reduce my stress, it has to be done.
So I'm trying not to let the uncertainty get to me too much. It is what it is, and I've navigated these waters before, but it's never fun. Now that it's happened, it's time to focus on bettering myself, my situation, and my health. Stress relief has to be a major part of that.
So now that I've been given the chance to start over, I'm dedicated to de-stressing myself. Stress has been proven to build up plaque in arteries, which increases the risk of heart attacks. I'm 31, and feeling a lot of stress, so if I want to be healthy long term, I need to stop the cycle.
I've been listening to relaxing piano music, taking me-time breaks, meditating, and am considering taking up yoga. Laura brought some dumbbells, a kettle bell, and a jumprope over, and we've been doing exercises (she's kicking my fat ass, cause she works out regularly….I mean LOOK at this….)
(….then look at this, where my stomach is the size of the Great Smokies….)
(……so yeah…..lol). But one thing is certain, whatever I do to reduce my stress, it has to be done.
So I'm trying not to let the uncertainty get to me too much. It is what it is, and I've navigated these waters before, but it's never fun. Now that it's happened, it's time to focus on bettering myself, my situation, and my health. Stress relief has to be a major part of that.
Back to the drawing board.
I got laid off again. Damned temp jobs. I'm pretty stressed about it actually. It would seem that my stress levels that were accumulating (as mentioned in a blog post a few days ago) have turned so bad that I've been fighting stomach cramps with this news.
But it's not all bad news. I was starting to obviously wear thin with that job due to it's repetitiveness, compounded with the other stresses in my life, so part of me is relieved to never have to go back there. The last few days I went, I dreaded walking in the building. That's a sign that it should end, and it has now, but not by my choice.
On the upside, I've got time to focus on school and my other projects, and I can now look for a new job that won't (hopefully) be as stressful. I'm ok financially at this moment, so I'm trying to not worry about where my next meal is coming from until it gets to that point. I've already filed for unemployment, so hopefully that will kick in very soon.
I'm ok, and believe it or not the fact that I'm admitting the job loss to the blog is actually helping me feel better about it at this moment as far as my stress level is concerned. Thankfully, I implemented Phase 1 a while back, and now know how far I can stretch my current assets. Also, thankfully I've begun alternative income streams that, even though they haven't paid off yet (still working on sweat equity in those areas), will help reduce the impacts of this on me financially when they do pay off.
What breaks my heart is that my Colorado trip may not be able to happen in June, and that my move from Marion may not be able to happen by September now. So Phase 3 is on hold while I focus attention on patching up phase 1 and 2.
I won't let this deter me though. Believe it or not, I've been unable to function in the aftermath of getting the news, but now as I write this blog I'm touching on the undying confidence that I've got beneath the surface. I won't give up, I just have an obstacle to overcome. It's still very early in the scheme of things regarding my 5 year plan, and these things are going to happen to someone in the duration of a 5 year journey to self enrichment (spiritually and monetarily). I'm not going to give in, and I'm not adjusting my ultimate goal. I will have to adjust my vacation and moving from Marion goals, but that's a short term adjustment til I overcome this speed bump.
The thing I'm grateful for is that I've paid down two of my 3 credit cards. I now need any cash coming in to live on, so I can't snowball the last one yet (Fuck you NTB!), but that will come in time. Right now, I'm focusing on school, job hunting, and my various projects.
So wish me luck. Let's just hope the unemployment checks kick in soon, and let's just hope that this is one of those "blessing in disguise" deals.
Wednesday, February 1, 2012
Life imbalance:
When we were kids, life was care free for the most part. This was because we had others caring for us, and didn't have to worry about life's responsibilities ourselves. Life could be good in that situation.
Then some of us become adults, and don't know how to live without being looked after. These individuals can become dependant on others through life, as they never seek to take care of themselves.
Some of us become adults, and become worker bees. We work for a living just trying to sustain ourselves. We work ourselves to the bone just trying to keep up a certain standard, or to pay off debts, and never really are able to re-attain the worry free existence we had as children.
Then some of us become adults, and are able to become financially independant enough to actually live life care-free, regardless of what may come. These people don't worry about keeping up with anything, becuase they are able to take advantage of all that life has to offer them. They are either born into this, or work to attain it.
I don't wanna be in the first two groups. I wanna be financially stable enough to not have to worry anymore about anything. My poor upbringing, and the debts I have, are just two of the many barriers I have to overcome to get to this point. But if Bill Gates can do it, why can't I? I don't need to be the richest man in the world, I just wanna have enough diversified income streams that I don't have to worry about the rat race anymore and can just live life the way I would if money weren't a concern.
I look at all the wonderful things life has to offer. I look at how I've lived mine. I feel disgusted. I'm giving myself the arbitrary deadline of New Years Eve 2017 to turn the tables back in my favor (my 5 year plan), but this is gonna take some real work and strategic planning. Instead of just working for a living, I aim to establish self sustaining income streams that will ensure my financial viability. Instead of paying off debts for the next 30 years, I aim to snowball them and get them out of my life at the soonest point that I am able.
Life offers a lot of wonderful things to those who have the resources available to allow them to enjoy it. I'm going after my share. Fuck poverty. Fuck debt. Fuck uncertainty. That's no way to live.
Then some of us become adults, and don't know how to live without being looked after. These individuals can become dependant on others through life, as they never seek to take care of themselves.
Some of us become adults, and become worker bees. We work for a living just trying to sustain ourselves. We work ourselves to the bone just trying to keep up a certain standard, or to pay off debts, and never really are able to re-attain the worry free existence we had as children.
Then some of us become adults, and are able to become financially independant enough to actually live life care-free, regardless of what may come. These people don't worry about keeping up with anything, becuase they are able to take advantage of all that life has to offer them. They are either born into this, or work to attain it.
I don't wanna be in the first two groups. I wanna be financially stable enough to not have to worry anymore about anything. My poor upbringing, and the debts I have, are just two of the many barriers I have to overcome to get to this point. But if Bill Gates can do it, why can't I? I don't need to be the richest man in the world, I just wanna have enough diversified income streams that I don't have to worry about the rat race anymore and can just live life the way I would if money weren't a concern.
I look at all the wonderful things life has to offer. I look at how I've lived mine. I feel disgusted. I'm giving myself the arbitrary deadline of New Years Eve 2017 to turn the tables back in my favor (my 5 year plan), but this is gonna take some real work and strategic planning. Instead of just working for a living, I aim to establish self sustaining income streams that will ensure my financial viability. Instead of paying off debts for the next 30 years, I aim to snowball them and get them out of my life at the soonest point that I am able.
Life offers a lot of wonderful things to those who have the resources available to allow them to enjoy it. I'm going after my share. Fuck poverty. Fuck debt. Fuck uncertainty. That's no way to live.
Tuesday, January 24, 2012
Why reducing my debt is so important.
http://www.tarmek09.com/?attachment_id=123
That's a pretty damned obvious question, isn't it? But on the heels of having paid off two of my credit cards in the past several months, it's one that I'm getting jazzed about. I've got one card to go, and I plan to handle that with my tax return. The card is only $600, but it's got an APR of 28.99%. The minimum monthly payment on this card is $25, and if that's all I ever pay, it'll take me till March 2015 to pay it off. I'll have paid Citi an extra $327.38 in interest as well. That's what Citi wants, and that's what a lot of people do, which is why they are perpetually poor. So it's obvious that I need to snowball all my resources into this card a.s.a.p. so that it's no longer costing me an extra $14.82 each month. Each month, if I pay only the minimum, I'll be paying 60% of the money toward interest, and only 40% toward the actual balance! That's ridiculous.
I'm planning on holding on to my tax return for a trip to Colorado in June, but that trip is 17 weeks away. Meanwhile, getting paid around $440-week, I can save myself a lot of money in the long run if I just go ahead and use the return to pay off my Citi card's $600 balance, park the rest in savings, and set back 10$% of my pay each week till I've recovered the balance. Over 17 weeks, 10% of my pay would be $748!
Part of me is nervous about this. Part of me wants me to hold on to the tax return the whole time so I can have an emergency bundle in case I get laid off. But the other part of me remembers how ruthless the bill collection calls were last time I was laid off. I had 3 open credit cards then, and the calls wouldn't stop. So this would reduce the bills due if my job were lost again, which would reduce my cost of living, and make another job loss easier to bare.
The other part that worried me initially about the idea was the fact that I really want this tax return to pay for the Colorado trip. I was worried initially that if I lost my job, I wouldn't be able to repay the money to the trip fund, and then I wouldn't be able to go. But then I snapped into reality and realized that if I do lose my job, I'll need that tax return to live off of. There wouldn't be a Colorado trip. I may as well use it to pay down my debts now while I do have a steady income.
I could just park the money in my savings from my tax return, then snowball 10% of every paycheck into the credit card over the next few months. That would mean I'd have it paid off before my trip in June, but only by a month. And then I'd be paying an extra $35.52 in interest that I wouldn't have to pay. So I'd actually be paying $635.52 over 4 months. It makes more sense to me to instead just pay it off now, and stop the flow of more interest charges from Citi, then repay myself by putting the 10% in my savings each week. That savings would actually be earning ME interest, as opposed to costing me interest. In other words, it would save me more money for my Colorado trip, and for overall living, if I just pay it down in one payment with my tax return.
Sure, this wouldn't be the end of my debts. I have other interest bearing debts (things like student loans…..). But the interest rates of these 3 credit cards has been costing me so much more of my hard earned money than was justified by the original purchases that these had to be paid off a.s.a.p.
I just dumped the figures from my 3 credit cards into my Debtinator software, and if I had just started paying off these 3 cards at maxed out balances, only making the minimums, I'd have paid $752.71 in interest alone on a $600 credit limit with Citi (at 28.99%), $735.05 in interest on a $500 credit limit with HSBC (at 26.99%), and $730.39 in interest on a $500 credit limit with Chase (at 29.99%). To top it off, it would've taken me 3 years to have paid off these cards. So out of a total credit limit of $1600, I would've paid off the $1600 principal and paid $2218.15 in interest. That's a total of $3818.15 on $1600 worth of credit!
Yeah, and now I'm really pissed at myself for having perpetually maxed out credit cards over the last 6 years. This is sickening. At least now, I've paid off my HSBC and Chase cards, and it's only been a few months. But this ends now. Period.
2011 was a wake up call. 2012 is the year I turn it all around. I'm done being a slave.
Monday, January 23, 2012
In due time.
We all start somewhere. Me, I started poor as shit with the odds stacked against me unless I could get out of Scioto County. Luckily, I got out without a pill problem. I made some awesome moves, saw much of this awesome country, but I managed my money really poorly because I didn't know any better.
So now I'm focused on what I want and where I want to go, and I see examples of what I want in my colleagues. I'm proud that these people have what I'm striving for, so this isn't a jealous stab at them. But this blog is a place for me to get my thoughts out, and right now my thoughts are that I'm starting humble and building my way up to mega awesomeness with my studio.
This is gonna take a lot of effort on my part, and a LOT of major money management changes. I've been implementing those changes, and I have made some minor accomplishments so far to reduce my debt and increase my net worth. If I'm gonna get there, I gotta get outta the hole a.s.a.p. So this new lazer-like focus is a very big help with that.
But again, we all start somewhere. Right now, I feel that my skills have outgrown my meager gear, and I'm pretty good with the meager equipment I own. But my client base isn't there yet to justify any major gear upgrades. So I have to focus on the most important upgrades first, while continuing the necessary steps to increase my net worth and get myself out of insolvency. This way, when the time comes to make the switch from a full time day job to my own self employment, this insolvency won't be hanging over my head giving me a reason to say no to making the jump into uncertain income earnings. There's freedom in working for yourself completely, but there's also major risk, and right now I can't afford that risk until this insolvency is reversed. So that is a major factor that I'm attacking with full strength.
But here's a snapshot of where I've been. This was my studio in October 2009 in Conifer Colorado.
A few months later, I met Bob Swanson. This was the real game changer for me. Bob had talked one of my recording clients into having his studio mix the project instead of me, and yeah this did sting because I was trying to fight and scrape for clients where I could. To lose one was painful in those days.
But I took it like a professional. I went to Bob's studio and delivered the files. I walked into Bob's Pro Tools studio in Conifer, and was admittedly jealous of what I was seeing. This was light years beyond anything I could afford. But I was there for a professional purpose, so I had to be a pro and talk about what was intended for the mixes for the client.
Bob started probing me asking about the version of Pro Tools I was using. I told him I was tracking on a BOSS BR-1600, and mixing in Adobe Audition 1.5 on a shitty old PC in a spare bedroom…..
…..and you could see his demeanor change.
He said what struck him the most was that I was going out there with what most in the business would call toys, and calling myself a studio. And the thing that dumbfounded him was that it was working, because I was getting clients. He said he knew 30 people who wanted to "play the game" but didn't feel they had enough gear, when they had 10 times what I had, yet here I was doing it.
I think he felt somewhat guilty about snagging a client from someone who was just starting out, and felt compelled to help me out. So the next thing you know, he started handing me pop filters and headphones! He began placing bids on ebay for pieces that I could use, and got me a nice headphone amp. Then he started raiding his mic closet, and gave me a $700 mic! To top it all off, he asked his friends who were also audio engineers to pass him along some of their spare pieces that they were no longer using. I got two flat panel PC monitors, new Tannoy Active monitors, a bunch of new mics, and more! This was all given free of charge in an effort to help give me the jumpstart he felt I needed.
First of all, I did not deserve ANY of this generosity, but as if that wasn't enough Bob started having me come over to help him with studio tasks and began gaving me tips to improve my skills. I'm still flattered and somewhat confused by the generosity of someone like Bob, but here he was helping me left and right to build myself up. He'd say "With someone like you going at it with the meager amount of gear you have, if someone really pushed you………you'd be dangerous." And here he was pushing me.
So next thing you know, my gear list jumped by leaps and bounds. I went from this….
…..to this……
Then Bob ordered a new console for his studio, straight out of Nashville. This console is a Raindirk Symphony console, and there aren't many in the US. There's one in Columbus, Ohio, at John Schwab's studio, but Bob's is bigger (that's what she said…..) The fun thing is that I got to help install this behemoth! This console was as long as my Bonneville, I kid you not Here's a video I shot after helping him load it in off the truck from Nashville.
……and here's a pic of the console all set up in Bob's studio.
Here's the cool thing. Bob's new toy was bought from Nashville, where it was featured in this Casey Ashley video. The console in this video is the EXACT SAME ONE I helped install in Conifer, Colorado at Swanpro Studios.
Things were going well knowing Bob. Bob was the best thing that happened to me professionally, because it was the first time that someone not only showed faith in me, but it was also the first time someone put their money where their mouth is. The generosity he bestowed will never be forgotten.
While I lived in Conifer, I also met Brad Smalling, who owns Evergroove. This happened when one day I called up Evergroove after just having moved to Colorado to ask about their freelance rates. I never got any freelance clients to go to Evergroove, but one day I'm using the local Freecycle service and I spot a pro audio rack! I thought this was an odd find, but too good to pass up. So I snagged it up, which started a conversation with Jenny Chaput Smalling. Jenny informed me that they were the owners of Evergroove, which reminded me that I'd been in touch with them before. I got back in touch with Brad, and we started talking. I toured his studio, which is a very nice place in the mountains and is just down the road from Bob's studio! The environmentalist in me was stoked about Evergroove because it's solar powered, and I still think that's REALLY cool. Here's a photo of Evergroove.
So here I was with some meager equipment, but meeting some really cool Colorado contacts. Things were looking up, and even though I had a long way to go before I could match what these guys had, I was glad to be considered a player in the game of the Colorado music scene.
But then I moved back to Ohio when Sarah got a job in Richwood. I came here with a dedication to make Skyline Sound Studios something grand in the Buckeye state, and I'm still trying to make that happen. But when I landed here, the flow of clients I had obviously ground to a halt. The first session I had in Ohio was a blues band called Breadwagon, who were really cool to hang with. We spent 7 hours recording and mixing a really cool demo. Here's a video I shot that day.
But Skyline was still limited to just a spare bedroom of the house Sarah and I rented. We rented a house an hour north of my target market, which made getting clients a bit challenging. And then my ensuing personal financial crisis that occurred after Sarah left meant that I was stranded in Marion until my finances improved. So I decided to make the best of it. I spread the studio around the house, and now I had more space than Bob Swanson or Brad Smalling. The difference is it's in a house, not a professionally treated studio environment. But at least now I had a place finally all to myself to put my studio full time.
You see, before Sarah moved out my recording sessions would happen remotely. I'd pack up my gear and take it to the clients rehearsal space to do the recording, then bring the tracks back to "home base" to do the mixing. My current client Enemy By Mourning got this treatment in Ohio, as their first demo was rush-tracked in the band's rehearsal space. Here's a video of that session.
Again, this was just a demo, but it helped the band gain a footing in the central Ohio scene, which did help bring me a couple of clients. I know that Liquid Ghandi came in after hearing what I did for EBM on their demo.
When The Blitz wouldn't play EBM's demo on local stuff, I wasn't surprised. It was a rush job, and they wanted it that way. It was just a good sounding quick and dirty demo from the start. So we started planning out a way to get them something that did sound radio quality for airplay on The Blitz. We decided to use Electronic Drums I had acquired as a midi recorder and run the midi through Steven Slate Drums to get the drum sounds without the room playing a factor. I also upgraded my gear from Adobe Audition 1.5 to Pro Tools 9 on a brand new 27" iMac!
Now it was time to play the game. We buckled down and pumped out a mix that was successful in getting them airplay, and quite frankly it was one of the best things I'd recorded. I was uber proud of myself.
And now not only had my gear selection grown, but my abilities had grown thanks to the amount of space I had in the house to dedicate to the studio. Here's a pic of the live room in the current studio.
Not much has changed since then, as I've decided to focus any money coming in from Skyline toward my debts to reduce my insolvency. But more upgrades are in the works very soon. I'm going to switch back to using studio revenues for the betterment of the studio very soon. But the current set-up works very well for me and is proof that it's not the gear, it's the engineer. I've spent a lot of time over the last year honing my skills. Here's some of the fruits of those labors.
So I've come a good way in a couple of years considering the limited amount of time I have to put into things, and the amount of resources I have. It's been a ghettophoenic experience from the ground up. But I have places I wanna take it, and I'm working every day to make that happen. For example, let's look at Swanpro Studios and Evergroove Studios, then compare that with where I am gear wise…..
It's NOT the gear, it's the engineer. But being a quality engineer with the high end shit = living the dream. So I'm working toward it. Meanwhile, I just hope that people will judge my product, and not my gear. Because, again, it's NOT THE GEAR. It's the engineer. But I can honestly say that without podcasts (IHR, PSN, HRO, HRS, Sessions With Slau, Ronan's Recording Show…..to name a few), or the help of the engineers I've met guiding me through and giving me advice (Bob Swanson, Brad Smalling, Dave Piatek, to name a few…..), I'd not be where I am now. Two years ago, I'd have KILLED for what I have now, so it's all in perspective. But this isn't the end of the line. I wanna move Skyline out of the house and into it's own facility. I wanna make it a major player in the Columbus music scene, because my mixing skills have been proven to be competitive (Nuber on The Blitz is a tough cookie). So hopefully within the 5 years I have allocated for my 5 year goal, I'll be able to transition from where I am now to something more like one of these.
……and my blog will come along for the ride. Stay tuned.
So now I'm focused on what I want and where I want to go, and I see examples of what I want in my colleagues. I'm proud that these people have what I'm striving for, so this isn't a jealous stab at them. But this blog is a place for me to get my thoughts out, and right now my thoughts are that I'm starting humble and building my way up to mega awesomeness with my studio.
This is gonna take a lot of effort on my part, and a LOT of major money management changes. I've been implementing those changes, and I have made some minor accomplishments so far to reduce my debt and increase my net worth. If I'm gonna get there, I gotta get outta the hole a.s.a.p. So this new lazer-like focus is a very big help with that.
But again, we all start somewhere. Right now, I feel that my skills have outgrown my meager gear, and I'm pretty good with the meager equipment I own. But my client base isn't there yet to justify any major gear upgrades. So I have to focus on the most important upgrades first, while continuing the necessary steps to increase my net worth and get myself out of insolvency. This way, when the time comes to make the switch from a full time day job to my own self employment, this insolvency won't be hanging over my head giving me a reason to say no to making the jump into uncertain income earnings. There's freedom in working for yourself completely, but there's also major risk, and right now I can't afford that risk until this insolvency is reversed. So that is a major factor that I'm attacking with full strength.
But here's a snapshot of where I've been. This was my studio in October 2009 in Conifer Colorado.
A few months later, I met Bob Swanson. This was the real game changer for me. Bob had talked one of my recording clients into having his studio mix the project instead of me, and yeah this did sting because I was trying to fight and scrape for clients where I could. To lose one was painful in those days.
But I took it like a professional. I went to Bob's studio and delivered the files. I walked into Bob's Pro Tools studio in Conifer, and was admittedly jealous of what I was seeing. This was light years beyond anything I could afford. But I was there for a professional purpose, so I had to be a pro and talk about what was intended for the mixes for the client.
Bob started probing me asking about the version of Pro Tools I was using. I told him I was tracking on a BOSS BR-1600, and mixing in Adobe Audition 1.5 on a shitty old PC in a spare bedroom…..
…..and you could see his demeanor change.
He said what struck him the most was that I was going out there with what most in the business would call toys, and calling myself a studio. And the thing that dumbfounded him was that it was working, because I was getting clients. He said he knew 30 people who wanted to "play the game" but didn't feel they had enough gear, when they had 10 times what I had, yet here I was doing it.
I think he felt somewhat guilty about snagging a client from someone who was just starting out, and felt compelled to help me out. So the next thing you know, he started handing me pop filters and headphones! He began placing bids on ebay for pieces that I could use, and got me a nice headphone amp. Then he started raiding his mic closet, and gave me a $700 mic! To top it all off, he asked his friends who were also audio engineers to pass him along some of their spare pieces that they were no longer using. I got two flat panel PC monitors, new Tannoy Active monitors, a bunch of new mics, and more! This was all given free of charge in an effort to help give me the jumpstart he felt I needed.
First of all, I did not deserve ANY of this generosity, but as if that wasn't enough Bob started having me come over to help him with studio tasks and began gaving me tips to improve my skills. I'm still flattered and somewhat confused by the generosity of someone like Bob, but here he was helping me left and right to build myself up. He'd say "With someone like you going at it with the meager amount of gear you have, if someone really pushed you………you'd be dangerous." And here he was pushing me.
So next thing you know, my gear list jumped by leaps and bounds. I went from this….
…..to this……
Then Bob ordered a new console for his studio, straight out of Nashville. This console is a Raindirk Symphony console, and there aren't many in the US. There's one in Columbus, Ohio, at John Schwab's studio, but Bob's is bigger (that's what she said…..) The fun thing is that I got to help install this behemoth! This console was as long as my Bonneville, I kid you not Here's a video I shot after helping him load it in off the truck from Nashville.
……and here's a pic of the console all set up in Bob's studio.
Here's the cool thing. Bob's new toy was bought from Nashville, where it was featured in this Casey Ashley video. The console in this video is the EXACT SAME ONE I helped install in Conifer, Colorado at Swanpro Studios.
Things were going well knowing Bob. Bob was the best thing that happened to me professionally, because it was the first time that someone not only showed faith in me, but it was also the first time someone put their money where their mouth is. The generosity he bestowed will never be forgotten.
While I lived in Conifer, I also met Brad Smalling, who owns Evergroove. This happened when one day I called up Evergroove after just having moved to Colorado to ask about their freelance rates. I never got any freelance clients to go to Evergroove, but one day I'm using the local Freecycle service and I spot a pro audio rack! I thought this was an odd find, but too good to pass up. So I snagged it up, which started a conversation with Jenny Chaput Smalling. Jenny informed me that they were the owners of Evergroove, which reminded me that I'd been in touch with them before. I got back in touch with Brad, and we started talking. I toured his studio, which is a very nice place in the mountains and is just down the road from Bob's studio! The environmentalist in me was stoked about Evergroove because it's solar powered, and I still think that's REALLY cool. Here's a photo of Evergroove.
So here I was with some meager equipment, but meeting some really cool Colorado contacts. Things were looking up, and even though I had a long way to go before I could match what these guys had, I was glad to be considered a player in the game of the Colorado music scene.
But then I moved back to Ohio when Sarah got a job in Richwood. I came here with a dedication to make Skyline Sound Studios something grand in the Buckeye state, and I'm still trying to make that happen. But when I landed here, the flow of clients I had obviously ground to a halt. The first session I had in Ohio was a blues band called Breadwagon, who were really cool to hang with. We spent 7 hours recording and mixing a really cool demo. Here's a video I shot that day.
But Skyline was still limited to just a spare bedroom of the house Sarah and I rented. We rented a house an hour north of my target market, which made getting clients a bit challenging. And then my ensuing personal financial crisis that occurred after Sarah left meant that I was stranded in Marion until my finances improved. So I decided to make the best of it. I spread the studio around the house, and now I had more space than Bob Swanson or Brad Smalling. The difference is it's in a house, not a professionally treated studio environment. But at least now I had a place finally all to myself to put my studio full time.
You see, before Sarah moved out my recording sessions would happen remotely. I'd pack up my gear and take it to the clients rehearsal space to do the recording, then bring the tracks back to "home base" to do the mixing. My current client Enemy By Mourning got this treatment in Ohio, as their first demo was rush-tracked in the band's rehearsal space. Here's a video of that session.
Again, this was just a demo, but it helped the band gain a footing in the central Ohio scene, which did help bring me a couple of clients. I know that Liquid Ghandi came in after hearing what I did for EBM on their demo.
When The Blitz wouldn't play EBM's demo on local stuff, I wasn't surprised. It was a rush job, and they wanted it that way. It was just a good sounding quick and dirty demo from the start. So we started planning out a way to get them something that did sound radio quality for airplay on The Blitz. We decided to use Electronic Drums I had acquired as a midi recorder and run the midi through Steven Slate Drums to get the drum sounds without the room playing a factor. I also upgraded my gear from Adobe Audition 1.5 to Pro Tools 9 on a brand new 27" iMac!
Now it was time to play the game. We buckled down and pumped out a mix that was successful in getting them airplay, and quite frankly it was one of the best things I'd recorded. I was uber proud of myself.
And now not only had my gear selection grown, but my abilities had grown thanks to the amount of space I had in the house to dedicate to the studio. Here's a pic of the live room in the current studio.
Not much has changed since then, as I've decided to focus any money coming in from Skyline toward my debts to reduce my insolvency. But more upgrades are in the works very soon. I'm going to switch back to using studio revenues for the betterment of the studio very soon. But the current set-up works very well for me and is proof that it's not the gear, it's the engineer. I've spent a lot of time over the last year honing my skills. Here's some of the fruits of those labors.
So I've come a good way in a couple of years considering the limited amount of time I have to put into things, and the amount of resources I have. It's been a ghettophoenic experience from the ground up. But I have places I wanna take it, and I'm working every day to make that happen. For example, let's look at Swanpro Studios and Evergroove Studios, then compare that with where I am gear wise…..
It's NOT the gear, it's the engineer. But being a quality engineer with the high end shit = living the dream. So I'm working toward it. Meanwhile, I just hope that people will judge my product, and not my gear. Because, again, it's NOT THE GEAR. It's the engineer. But I can honestly say that without podcasts (IHR, PSN, HRO, HRS, Sessions With Slau, Ronan's Recording Show…..to name a few), or the help of the engineers I've met guiding me through and giving me advice (Bob Swanson, Brad Smalling, Dave Piatek, to name a few…..), I'd not be where I am now. Two years ago, I'd have KILLED for what I have now, so it's all in perspective. But this isn't the end of the line. I wanna move Skyline out of the house and into it's own facility. I wanna make it a major player in the Columbus music scene, because my mixing skills have been proven to be competitive (Nuber on The Blitz is a tough cookie). So hopefully within the 5 years I have allocated for my 5 year goal, I'll be able to transition from where I am now to something more like one of these.
……and my blog will come along for the ride. Stay tuned.
Saturday, January 21, 2012
Panic.....
I've been struggling for the past 50 weeks to regain a footing on my life, and right now I'm panicked that I could slide backwards yet again. The company I'm assigned to through my temp agency is rumored to have started lay offs again due to lack of work, and having been one of those laid off over the summer, I'm freaking out just a bit. If the phone rings, and it's a 614 number that I don't recognize, or it's my agent at the temp agency, I'm going to be freaking the fuck out.
This comes ONE SINGLE DAY after I pay off my chase credit card, reducing my monthly expenses by a little, but increasing my net worth by another $500. I now have this card to use as an emergency fund, but having just paid it off twice in the past two months, I do NOT want to need it yet.
But the thing that's got me panicked is that I just drained my small savings (ok, it was like $160, but still), and combined that with the liquid assets I earned from the studio to pay off that credit card. That credit card will not help me when it comes to paying rent, unless I take out an expensive cash advance.
It's just a rumor, I haven't seen it in action yet. I need to keep positive, but it's really difficult. I'm freaking out. I need to remember that I've got other income streams in the works, and I need to hustle to get those finished so I can push the hell out of them and hopefully earn some money from them.
I also need to start looking for a new employment situation, just in case. And the shitty thing is that even if I find a new employment situation, that won't be certain either. There's no such thing as job security, and I could leave my temp job for something I feel more secure at, only to lose it more quickly than I would have lost my temp job, and then the temp job could be gone, and I'd be screwed either way. But that's the risk you take in life, there's no sense in not acting because of the risks. Life is risky, and nothing is EVER certain. You shouldn't let fear of what MIGHT happen hold you back from trying to better yourself, even though that fear can be crippling.
And as I sit here, debating whether to start pushing the studio harder with my free time or to start applying for jobs (a task I can never seem to focus on….I HATE resumes), just the fact that I'm typing this blog is calming me down a bit. I need to remember that at this moment, I have not received the call from the temp agency. At this moment, I still have the temp job. At ANY moment from August to now, this job could've gone away. I need to remember these things, because essentially nothing has changed. I've made personal progress since the last layoff, and have been making strides to reduce my debt. But if it happens again, I need to stay focused financially and not let myself slip into the depressed reckless spending habits that screwed me up in October during my cancer scare. I need to keep my focus, and keep my wits about me.
Sure, it's scary, but at this point nothing's changed.
Let's just hope it stays that way a bit longer.
This comes ONE SINGLE DAY after I pay off my chase credit card, reducing my monthly expenses by a little, but increasing my net worth by another $500. I now have this card to use as an emergency fund, but having just paid it off twice in the past two months, I do NOT want to need it yet.
But the thing that's got me panicked is that I just drained my small savings (ok, it was like $160, but still), and combined that with the liquid assets I earned from the studio to pay off that credit card. That credit card will not help me when it comes to paying rent, unless I take out an expensive cash advance.
It's just a rumor, I haven't seen it in action yet. I need to keep positive, but it's really difficult. I'm freaking out. I need to remember that I've got other income streams in the works, and I need to hustle to get those finished so I can push the hell out of them and hopefully earn some money from them.
I also need to start looking for a new employment situation, just in case. And the shitty thing is that even if I find a new employment situation, that won't be certain either. There's no such thing as job security, and I could leave my temp job for something I feel more secure at, only to lose it more quickly than I would have lost my temp job, and then the temp job could be gone, and I'd be screwed either way. But that's the risk you take in life, there's no sense in not acting because of the risks. Life is risky, and nothing is EVER certain. You shouldn't let fear of what MIGHT happen hold you back from trying to better yourself, even though that fear can be crippling.
And as I sit here, debating whether to start pushing the studio harder with my free time or to start applying for jobs (a task I can never seem to focus on….I HATE resumes), just the fact that I'm typing this blog is calming me down a bit. I need to remember that at this moment, I have not received the call from the temp agency. At this moment, I still have the temp job. At ANY moment from August to now, this job could've gone away. I need to remember these things, because essentially nothing has changed. I've made personal progress since the last layoff, and have been making strides to reduce my debt. But if it happens again, I need to stay focused financially and not let myself slip into the depressed reckless spending habits that screwed me up in October during my cancer scare. I need to keep my focus, and keep my wits about me.
Sure, it's scary, but at this point nothing's changed.
Let's just hope it stays that way a bit longer.
Friday, January 20, 2012
FREEEEEEEEEEEEDOOOOOOOOOOOOOOOM!
JP MORGAN CHASE - SUCK IT!
I just paid off my credit card with them as a 31st birthday present to myself! (I turn 31 on Monday).
This is a great feeling!
Now the next debt in line will be my NTB Citi Card. THAT one will feel great, because I didn't know I was signing up for a credit card. I thought I was financing tires on a 6 months same as cash payment. The employees at NTB in Marion put it that way, saying that I'd have 6 months to pay it off! Instead, what I signed up for was a Citi card, and there were minimum payments due almost immediately that I could not afford. So my credit really suffered at the hands of NTB and Citi not making it clear what I was actually signing up for. This card was not wanted, and it's been a thorn in my side for a year now. I planned to pay it off with my school overage, but it wasn't in the cards. Then I lost my job over the summer, and this card started racking up late fees like you wouldn't believe.
I almost considered a lawsuit against NTB and Citi for not making these terms clear in the first place, and that option is still on the table.
Needless to say, I'm looking forward to that one being gone. But I couldn't pay it off first, since i can't use it for emergencies. It's only usable at NTB. So I needed to pay off the card that could be used for emergencies first. Now that this is done, the Citi card will follow.
Even though I'm really pissed off at Citi and NTB because of their negligence, I may decide to keep this card open when it's paid. After all, if I have an auto emergency, I can use this card for that purpose. But then again, I'd have such a sense of satisfaction paying off that card that I would be tempted to go to the NTB store and burn the fucking card in their parking lot in full view of their employees. So we'll see.
For now though, I am going to drink my beer, grab a pizza, and celebrate. Happy birthday to me!'
Thursday, January 19, 2012
Credit Card Companies.....
Just a little rant about credit card companies. As I approach the weekend, where my 31st birthday present to myself will be to pay off my Chase credit card in full (obviously, there will be a little interest I'll have to pay in February, but the remaining $170 will be gone within a matter of days....), I log in to try to apply the remaining $170 to the credit card this morning so that I can start my weekend seeing the Zero balance. The problem is that I'm unable to make a payment today, because I made a payment within the last 72 hours............
............how in the hell does that make sense?!
To me, this is just a tactic designed to keep people like me from paying it off piece by piece. There's no way that I can see to justify this. There's no way that transferring money from a chase checking account to a chase credit account costs them anything, other than about 30 seconds of an hourly employees time (obviously this is an exaggeration, but the point is taken).
This seems to me to be a tactic designed to keep people from making that last payment when they deem it possible, causing them to sit on it and forget to pay it after the 72 hours has expired, which prolongs the amount of time they can charge you interest! I know I could likely go to the branch and make the payment in person, but who has the time? I have waaaaay too much on my plate to stop at the bank anytime other than Saturday mornings, and I try to set up my life so that I don't have to make those stops.
So JP Morgan Chase, until you can give me a valid reason why a person cannot pay more than once every 3 days on their credit card using your web site, I will look at you as a company who engages in debt retaining practices sso they can keep their customers in debt and keep a stranglehold on them. This is outrageous, and regardless of this puny attempt to keep me from paying off the debt, I will pay this on the earliest day you'll let me. Then you can go to hell.
Tuesday, January 17, 2012
Nothing specific. We'll see where this goes.
I haven't written a crazy emo / money management / happy with life blog today!
Can't let that happen, but at the same time, I feel like I'd be blogging for the sake of having something to say. Can't have that either.
So here's what I'll do. We'll just give a quick financial update, and a shout out to my friend Jen Ray who successfully transplanted herself from Bloomington Indiana to Colorado Springs today! Jen, Godspeed, and I'm horrendously jealous ;)
That said, time for the financial quickie (that sounds dirty and expensive.....)
I was thinking earlier today about how good it feels to have reached the credit card milestone all by myself, just because I buckled down and dedicated myself to paying it off. It's not paid off yet, I'm waiting for the funds to transfer out of my savings into my checking so I can make that payment. That'll take about a week, because my online savings is with HSBC and not easily accessible. But the card is as good as paid. I'm down to around $169 on my balance after just a week, thanks to the studio work from this weekend, and when my $159 from savings comes in there's no reason to leave a $10 balance on the card, so I'll just handle the miniscule difference myself.
But as stated, this got me thinking about how good it'll be to be debt free. 6 months ago, I had 3 credit cards, a car loan, plus a mountain of debt to my Ex and my student loans. Now, two of the cards are effectively paid off, and when the last card and the car loan are paid off that'll give me an extra $220 each month. Obviously, this money should go to the mountain I have to pay off to my Ex and then saved for my student loans, but the point is that if I can't make any more payments than I currently make to those bills I'll still have $220 fewer in monthly expenses than I did 6 months ago!
That's just a small taste of the freedom that will occur when all these damned debts are paid off. These debts are about to become my bitch!
Friday, January 13, 2012
A risky idea……but now I'm torn.
I was just thinking about the credit card debt I have and comparing it to my savings account. My savings is earning .8%APY, meaning I'm earning .8 of a cent for every dollar in the account. Not exactly a great yield, but that's the current market rate.
Then I think about my credit cards. One of them is with Chase, and the other was with NTB through Citi. The Citi card could not really be used for anything but car maintenance at NTB, but the Chase card could be used anywhere. The Chase card has an APR of 29.99%, and the Citi has an APR of 28.99%. So for every dollar I owe, the credit card companies are getting 29-30 cents!
This almost seems obvious right from the start, but I'm considering using the money I've saved (around $150 at this point since I started setting back 10% 4 weeks ago) to snowball the Chase card. This card could be used as an emergency fund of $500 if it had a zero balance, and then I could snowball the Citi card and use it as a car repair emergency fund. Then perhaps I could refocus on building my savings.
But this is where I'm torn. It's going to cost me less to get these cards out of the picture sooner, by a wide margin. So this approach seems to make sense. But i'm just not sure if it's wise to drain the savings and start applying it to the credit cards. I like knowing the savings is there, but ultimately it's costing me way more to have these cards open than it is to pay them down a.s.a.p.
So I'm not sure what to do here. Should I keep the savings, or should I snowball the fuck out of the credit cards?
I'll listen to any feedback in the form of comments, and I'll consult family to make sure I've made an informed decision, but this is a stumper.
And then again, when I look at the title of this post, "a risky idea....", I recall that the greatest risk shows the greatest reward. This would be risky because I'd be risking being limited to an emergency fund that could only be used at vendors who accept credit cards. This may help my utilities and groceries, but it wouldn't help me pay rent. If I lost my day job Monday, and I've put all of my savings onto the cards, then I have no cash available. But then again, it costs me more money the longer the cards have a balance on them, and I want all of my money to go back to me again.
So I'm stumped.
I'll report back with my decision, but I've got some phone calls to make.
Then I think about my credit cards. One of them is with Chase, and the other was with NTB through Citi. The Citi card could not really be used for anything but car maintenance at NTB, but the Chase card could be used anywhere. The Chase card has an APR of 29.99%, and the Citi has an APR of 28.99%. So for every dollar I owe, the credit card companies are getting 29-30 cents!
This almost seems obvious right from the start, but I'm considering using the money I've saved (around $150 at this point since I started setting back 10% 4 weeks ago) to snowball the Chase card. This card could be used as an emergency fund of $500 if it had a zero balance, and then I could snowball the Citi card and use it as a car repair emergency fund. Then perhaps I could refocus on building my savings.
But this is where I'm torn. It's going to cost me less to get these cards out of the picture sooner, by a wide margin. So this approach seems to make sense. But i'm just not sure if it's wise to drain the savings and start applying it to the credit cards. I like knowing the savings is there, but ultimately it's costing me way more to have these cards open than it is to pay them down a.s.a.p.
So I'm not sure what to do here. Should I keep the savings, or should I snowball the fuck out of the credit cards?
I'll listen to any feedback in the form of comments, and I'll consult family to make sure I've made an informed decision, but this is a stumper.
And then again, when I look at the title of this post, "a risky idea....", I recall that the greatest risk shows the greatest reward. This would be risky because I'd be risking being limited to an emergency fund that could only be used at vendors who accept credit cards. This may help my utilities and groceries, but it wouldn't help me pay rent. If I lost my day job Monday, and I've put all of my savings onto the cards, then I have no cash available. But then again, it costs me more money the longer the cards have a balance on them, and I want all of my money to go back to me again.
So I'm stumped.
I'll report back with my decision, but I've got some phone calls to make.
Thursday, January 12, 2012
So here we are.
As I posted earlier today, financially I'm insolvent. I suspected as much, but now that it's been confirmed I'm not looking at it as a negative. I'm 30, have no kids, don't have a mortgage.....I have an income from a few sources, and I've been giving myself the knowledge and tools to get out of this mess by my 5 year goal.
So what if I'm insolvent now? Yeah, it sucks, but things could always be worse. I take this as good news, because now I have a visualization of where I need to go and how bad my situation is. Now I also have the formula that I need to know when I've reached a positive net worth! I also know now how to measure those steps, and am actively planning out the best ways to get myself out of this mess.
I wish I'd paid attention earlier. I think that's one of the things that caused a major rift in my last long relationship. But perhaps it took that crumbling to wake me the fuck up, and now I'm much more optimistic about the future and what it'll take to get me the life I want to live.
So here we are. Now we know. Now it's time to step up the game.
12/31/2017 - here we come.
How it looks today.
I added up 4 assets (my meager savings, my current checking account balance, the blue book value of my car, and debts owed to me from the studio), then I subtracted them from my liabilities (my car payment, and credit cards).
It doesn't look good.
Net worth is determined by subtracting liabilities from assets. If you're positive, then you're in good shape. If you're negative, you're insolvent.
I'm insolvent. That needs to change a.s.a.p.
Now, this doesn't include all of my liabilities and all of my assets. I own property in Sciotoville that isn't being considered in my net worth calculation today. I have other liabilities and bills that I haven't put on this calculation either. However, I don't expect that insolvency to change right away just because I include everything that should be included in the calculation. In fact, I'd be surprised if the gap narrowed rather than widened.
Fortunately every payment I make toward my debts reduces my insolvency, and i now have a dedication and conviction to get them paid down a.s.a.p.
Baby steps.
Wednesday, January 11, 2012
Retirement:
The further I dive into learning about personal finance, the more I hear about retirement savings and compouded interest. I've heard in several places that a dollar today is worth more than a dollar tomorrow. This is because a dollar saved today can earn more interest than a dollar saved tomorrow, and will work longer to increase your net worth.
So now I find myself looking into retirement options. I'm 30, and haven't put much thought into retirement, but I am now looking at my entire financial future. I want to retire and live comfortably. So now I'm looking into retirement savings options.
I'm already working to save 10% into a personal savings account. It's got an .8% APY currently, and it's hard to access. So any money I put there will do a little work for me, and any money I put there is not easily accessed in an attempt to make it a true necessity for me to take it out of that account.
But now I'm looking at my retirement as well. I'm not able to start big and make up for what I could've saved through my 20's, it's way too late for that. But now I can start small and start earning little by little toward my retirement. I'm looking into IRA options to see what IRA would be best for me. I'm still learning the difference in IRA, Roth IRA, SEP IRA......but the point is that I know I want to start an IRA very soon. Even if all I can put in that account is $10-week, that's $520 over a year. If I work for the next 30 years, saving $520-year, that'll be 15600 that I've saved toward retirement. Obviously, that's not gonna cut it, but with the right compounded interest rate, that amount will balloon over time. Also, the amount of money that I can apply to retirement will increase as I pay off my debts over the next 5 years.
So here I am, 12 days from my 31st birthday, looking seriously at my retirement options for the first time in my life.
So now I find myself looking into retirement options. I'm 30, and haven't put much thought into retirement, but I am now looking at my entire financial future. I want to retire and live comfortably. So now I'm looking into retirement savings options.
I'm already working to save 10% into a personal savings account. It's got an .8% APY currently, and it's hard to access. So any money I put there will do a little work for me, and any money I put there is not easily accessed in an attempt to make it a true necessity for me to take it out of that account.
But now I'm looking at my retirement as well. I'm not able to start big and make up for what I could've saved through my 20's, it's way too late for that. But now I can start small and start earning little by little toward my retirement. I'm looking into IRA options to see what IRA would be best for me. I'm still learning the difference in IRA, Roth IRA, SEP IRA......but the point is that I know I want to start an IRA very soon. Even if all I can put in that account is $10-week, that's $520 over a year. If I work for the next 30 years, saving $520-year, that'll be 15600 that I've saved toward retirement. Obviously, that's not gonna cut it, but with the right compounded interest rate, that amount will balloon over time. Also, the amount of money that I can apply to retirement will increase as I pay off my debts over the next 5 years.
So here I am, 12 days from my 31st birthday, looking seriously at my retirement options for the first time in my life.
Tuesday, January 10, 2012
Misteps.
Well, the train has been derailed again.
I fudged a calculation on my budget spreadsheet, and now I find that I've not only overdrawn my bank account and will be incurring an unfair NSF fee of $46, but may not be able to pay off the credit card this week as I originally planned. It's embarrassing, but here we are. I'm trying to find ways to bring in more cash flow to the house, but I'm also limited by work hours for the holidays......
.......yeah, it's January 10th, and I'm limited by work hours for the holidays. At my Monday-Friday 9-5 day job I've had December 26th off, January 2nd off, and will have January 16th off. This means that for 3 out of 4 weeks, I'm getting 30-32 hours each week instead of 40. This is a big deal for an hourly employee, and I'm kind of pissed that we would have so many holidays off in a row. It makes this whole thing even tougher to manage. I'd have been able to avoid the NSF I now have if I had worked a full 40 hour week over the last two weeks (......or if I had been more scrutinous of my spreadsheet calculations), but I'm starting to get to a point where I can't afford the income of this job if they don't start working me a 40 hour week. At this rate, I won't have regular 40 hour pay checks again until mid February.
The Enemy By Mourning record is finished, and now I can book other clients to bring in more cash flow to the studio, but I don't have any concrete bookings. I'm recording Jovy on Saturday, but that's for my label, so there's no cash coming in from that session. I'm possibly working with an artist on Sunday, but they haven't responded to my work agreement, and until that has been responded to it's not a solid booking. So that's not a guarantee. And now that I'm off of my day job Monday Jan. 16th, I'm trying to get studio bookings that day at a discounted rate. So far, no bites.
Obviously the only income I can project on my budget spreadsheet is the income from my day job, since studio bookings are virtually non-existant at this time and overage checks and tax returns are not a constant. The only way that I can see right now to keep the bills paid that I need to pay and keep myself from being in perpetual NSF with the bank is to not pay off the credit cards this weekend, which makes me feel like a huge failure and a dissapointment to the family members who gave me money to pay on them last fall (quick recap....I paid one off, and then needed brakes, so it was maxed out again after 3 days. The other, I needed the cash for other bills. I pledged to pay them off in January with money I was recieving, but here we are........).
I have a balance from a good faith client that needs to be collected. I've unsuccessfully tried to collect this on a few occasions, but the client has always paid toward his bill so I can't collect this aggressively. Better to have the client happy and paying in increments than to collect aggressively and cut off the revenue stream. In other words, on a business sense, it's in my best interest to not piss off this client and keep the revenue stream open.
Other than that, it's been tough. I fight, I budget, I cut out the fast food, I don't spend frivelously, but each month it's within single digits of not making it. It's cutting it too close. I've taken up ramen noodles again as a cheap source of food, though not on the same level I was eating them at after Sarah moved out. Now with winter gas bills at play in a large energy sucking house (I really need to move, but that takes MONEY!), I'm just thankful that we've had a reasonably warm winter in Ohio so far, although my gas bill is still tough to pay.
I've resigned myself to bundling up like crazy, and when I cook using the oven, I leave the oven open when I'm done to allow the heat to fill the house. Why waste the heat? I have a dishwasher that hooks up to my kitchen sink, and instead of using the hot water tap I use cold. The dishwasher has a heating element inside of it, so why should I pay to heat the water twice? I use an electric blanket at night, allowing me to turn the house thermostat down to the mid 60's, which in this house is more like the mid 50's. I budget, I scrimp, I try to save......
I think the thing that really pisses me off here is that money has been so tight, I can't get more coming in, and the amount that is coming in has been decreasing due to holiday time off. If i could just get more coming in, I'd be ok. I was ok in October before I got depressed after my cancer scare and let my spending habits get out of control again. I know I can do it. But the problem is that I've been paying for Octobers irresponsibility since then, and there's no end in sight. The thing that really pisses me off about that is that I didn't do anything really drastic then! I didn't track my spending, but I didn't go out and spend a lot of money either. But I was spending more on junk food and fast food (comfort items since I was stressed), and had time off of work that I simply could not afford. Then there's the medical bills (don't get me started.....). I drained my savings to keep my rent paid, and now I have almost nothing saved and can't get back on top. I plan, but there's always something that derails that plan. I do not want to live a life of perpetual poverty, so something drastic has to change.......NOW.
I realize though that I'm stressed, and that I shouldn't allow that to prevail. I just need to keep it all in perspective. I'm infinitely better off than I was over the summer, when I was unemployed and borrowing money to keep a roof over my head. But I'm on the rim of the fabled canyon, and could go over at any time. I have so far to go to get to my 5 year goal, and when things like this happen in the beginning it makes it seem like I'll never get there. I just need to try to remember that the things I'm putting in place now will make it easier to achieve that goal in the future. The baby steps that form the foundation show the least visible results, but are vital in building the house.
.....still, I may be digging the pit for the basement, but I wish I could be painting the shutters by now.
I fudged a calculation on my budget spreadsheet, and now I find that I've not only overdrawn my bank account and will be incurring an unfair NSF fee of $46, but may not be able to pay off the credit card this week as I originally planned. It's embarrassing, but here we are. I'm trying to find ways to bring in more cash flow to the house, but I'm also limited by work hours for the holidays......
.......yeah, it's January 10th, and I'm limited by work hours for the holidays. At my Monday-Friday 9-5 day job I've had December 26th off, January 2nd off, and will have January 16th off. This means that for 3 out of 4 weeks, I'm getting 30-32 hours each week instead of 40. This is a big deal for an hourly employee, and I'm kind of pissed that we would have so many holidays off in a row. It makes this whole thing even tougher to manage. I'd have been able to avoid the NSF I now have if I had worked a full 40 hour week over the last two weeks (......or if I had been more scrutinous of my spreadsheet calculations), but I'm starting to get to a point where I can't afford the income of this job if they don't start working me a 40 hour week. At this rate, I won't have regular 40 hour pay checks again until mid February.
The Enemy By Mourning record is finished, and now I can book other clients to bring in more cash flow to the studio, but I don't have any concrete bookings. I'm recording Jovy on Saturday, but that's for my label, so there's no cash coming in from that session. I'm possibly working with an artist on Sunday, but they haven't responded to my work agreement, and until that has been responded to it's not a solid booking. So that's not a guarantee. And now that I'm off of my day job Monday Jan. 16th, I'm trying to get studio bookings that day at a discounted rate. So far, no bites.
Obviously the only income I can project on my budget spreadsheet is the income from my day job, since studio bookings are virtually non-existant at this time and overage checks and tax returns are not a constant. The only way that I can see right now to keep the bills paid that I need to pay and keep myself from being in perpetual NSF with the bank is to not pay off the credit cards this weekend, which makes me feel like a huge failure and a dissapointment to the family members who gave me money to pay on them last fall (quick recap....I paid one off, and then needed brakes, so it was maxed out again after 3 days. The other, I needed the cash for other bills. I pledged to pay them off in January with money I was recieving, but here we are........).
I have a balance from a good faith client that needs to be collected. I've unsuccessfully tried to collect this on a few occasions, but the client has always paid toward his bill so I can't collect this aggressively. Better to have the client happy and paying in increments than to collect aggressively and cut off the revenue stream. In other words, on a business sense, it's in my best interest to not piss off this client and keep the revenue stream open.
Other than that, it's been tough. I fight, I budget, I cut out the fast food, I don't spend frivelously, but each month it's within single digits of not making it. It's cutting it too close. I've taken up ramen noodles again as a cheap source of food, though not on the same level I was eating them at after Sarah moved out. Now with winter gas bills at play in a large energy sucking house (I really need to move, but that takes MONEY!), I'm just thankful that we've had a reasonably warm winter in Ohio so far, although my gas bill is still tough to pay.
I've resigned myself to bundling up like crazy, and when I cook using the oven, I leave the oven open when I'm done to allow the heat to fill the house. Why waste the heat? I have a dishwasher that hooks up to my kitchen sink, and instead of using the hot water tap I use cold. The dishwasher has a heating element inside of it, so why should I pay to heat the water twice? I use an electric blanket at night, allowing me to turn the house thermostat down to the mid 60's, which in this house is more like the mid 50's. I budget, I scrimp, I try to save......
I think the thing that really pisses me off here is that money has been so tight, I can't get more coming in, and the amount that is coming in has been decreasing due to holiday time off. If i could just get more coming in, I'd be ok. I was ok in October before I got depressed after my cancer scare and let my spending habits get out of control again. I know I can do it. But the problem is that I've been paying for Octobers irresponsibility since then, and there's no end in sight. The thing that really pisses me off about that is that I didn't do anything really drastic then! I didn't track my spending, but I didn't go out and spend a lot of money either. But I was spending more on junk food and fast food (comfort items since I was stressed), and had time off of work that I simply could not afford. Then there's the medical bills (don't get me started.....). I drained my savings to keep my rent paid, and now I have almost nothing saved and can't get back on top. I plan, but there's always something that derails that plan. I do not want to live a life of perpetual poverty, so something drastic has to change.......NOW.
I realize though that I'm stressed, and that I shouldn't allow that to prevail. I just need to keep it all in perspective. I'm infinitely better off than I was over the summer, when I was unemployed and borrowing money to keep a roof over my head. But I'm on the rim of the fabled canyon, and could go over at any time. I have so far to go to get to my 5 year goal, and when things like this happen in the beginning it makes it seem like I'll never get there. I just need to try to remember that the things I'm putting in place now will make it easier to achieve that goal in the future. The baby steps that form the foundation show the least visible results, but are vital in building the house.
.....still, I may be digging the pit for the basement, but I wish I could be painting the shutters by now.
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