I know it hasn’t been that long since I previously posted my alternative income streams plan and progress. However, I’m doing fairly well keeping expenses down and as long as I’m making progress, I might as well do it once every two weeks. If it seems like I’m making unrealistic progress, it’s because my fiancee and I are making the kind of income that you often see in Millionaires in the Making.
The numbers below are a little deceiving. As you may be able to tell, I’ve reduced my necessary expenses. A large portion is an adjustment to the grocery bill. We just haven’t had the need to by as much food since I get free lunch at work. Also, I’ve found that since my commute is almost all highway, I’m getting further than I thought on my transportation costs. Because of this I’ve gone back and restated my goal which is now $1699. Lastly, I eliminated $10 by paying off $1000 from my Heloc.
My Alternative Income is up due to some more loans in Prosper. Again, I’m adjusting that income downward for risk and taxes. I’ve also thrown in the gains from other bank interest (which isn’t much or I’d apply it money my HELOC) as well as this blog (which again isn’t much). It’s comforting to know that I’m almost at the point where my cell phone could be paid off every month. Not that I’d do that, I want my money to continue to compound.
|Date||Alternative Income||Necessary Expenses||To Go|
As you see in the update, I’m $19 closer to my goal. I’m not sure if I’ll be able to continue the progress. First, it’s been so good, there’s bound to be some drop off. Second, now that my company is getting a 401K, I’m going to spend the rest of this year maxing that out. I also have to save for my Roth IRA. I’ve got net worth goals to think about as well.