No More Debt

It is time to get out of debt completely.

Most of us work full time for a company, own a company or work full time at home raising children. The latter is the toughest job of them all.

Then our check comes weekly, every other week or even monthly and we watch it literally evaporate. I pay my bills the first two days of the month and by the third day of the month I can’t believe where it all goes. Not all of it is debt.

I have a mortgage, no car payments (own both of my vehicles), and utility bills. Then comes all of the other “stuff” car insurance, medical expenses, groceries, association fees – on and on it goes.

My wife and I do not live an elaborate lifestyle. We have four children and it seems that regular life expenses eat up too much of my income for my liking. We are paying some debt off from a failed business which makes things more stressful right now. And we are a one income family, so in today’s world that puts us even further behind.

I make a good living, so I am not complaining, but rather venting. My wife is working on her novel and some other projects that will eventually bring in some income and that is great! This will take time.

I am an impatient person by nature and so I would like to see another reliable source of income coming in now. I have read all about “multiple streams” of income and understand the concept.

The time has come for an additional source of income. More than that, it should have the potential to grow way beyond my current primary income. This is actually one of my goals for this year. Turning it into a stream that equals or exceeds my current stream is not part of my 2006 plan. I have to be realistic.

I have tested several ideas and so far I am clear as mud as far as which direction I am headed. My family is away all weekend visiting her sister and brother-in-law. I had a meeting on Friday that I could not miss and a few other factors kept me home alone. I thought it would be a great weekend to make some real progress on this front and become that much closer to being debt free.

It is Sunday afternoon, and I have little to show for the time I have spent. I am frustrated.

I have studied several very successful entrepreneurs who have taken a passive income idea and turned it into a multi-million dollar venture. I see repeatable strategies in what they have done. Yet, I am stuck.

I have a vision of for several new sources of income, including my primary source, my full-time job. As the additional income comes in I will continue to pay off my house and the rest of my business debt. I want to be debt free completely.

Is this goal too grand? I do not think so. Many other people, no smarter than I am have reached these goals and surpassed them. So I know I can do it. I can become debt free!

I think I need to take a break today and do something that has nothing even remotely to do with this goal. Clear my mind and get recharged.