So far we are o
ne month into our summer and the heat hasn't let up here in the midwest. I love it! I love running in it too. Call me crazy, but the heat and humidity really fuels me to push my body to higher limits in what I can do.
So far this summer has been crazy busy. We got our new puppy on Father's Day weekend. We went on our family vacation to Worlds of Fun and Oceans of fun and utilized our vacation fund to pay for all of our expenses (saved and paid all in cash). I passed my VMware v5.50 VCP-DCA certification and am now studying for VMware 6 vCloud Automation cert, which will help me earn more money in my regular job. We got to spend a week without the kids while my mother and father-in-law took the kids to vacation Bible School.
During this week of not having any kids my wife and I really got to sit down and talk. Talk about where we are headed post trying to buy a farm. It was a really great time to have some quietness in our life and sort out answers we were both seeking. During the week we came up with a new focus. A focus to put all of our energy into paying off our house. We are within about 2 years of paying off the remain $60k+ on our home and are going to start taking every extra dollar that is generated from our multiple income streams to put towards paying off our mortgage.
With that said, I'm starting a new monthly accountability tracker on my multiple income streams report. It's going to track our mortgage payoff and what we are doing to divert of multiple income streams to payoff our house. Here is a breakdown of how it is going to look:
Mortgage Pay Off Countdown
Paid last month (June 1): $1308
Extra Money That Was Applied: None last month
Goal of Pay Off Date: August 2018
- Pension – [2016 Goal – $1308 – made $545 thus far] – the pension continues to feed our private school fund at a consistent rate with no required action. Private schooling should be fully funded by August 1st and we will be able to prepay our tuition and get the 3% discount.
- Peer-to-Peer Lending – [2016 Goal make $100 – made $11.14 thus far] – I've essentially paused my LendingClub.com contribution (egg sales distributions) and will focus on paying down the mortgage. I think this is a good strategy until some of the regulatory oversight is completed that I wrote about last month.
- Egg Sales – [2016 Goal – $360 – made $112 thus far] – this past month was both a positive and negative. I generate almost twice as much egg sales, because the farmer was gone on vacation who I normally share the eggs with. Bad news is that we've been having predators get in a kill or take some of our chickens. So far I know a racoon and dog have taken a few of our chickens. This continues to remind me of protecting my different income streams from any type of predator that might disrupt my income flow.
- Blog Income – [2016 Goal – $6000 – made $4367 thus far] – made $804.50 in made that has now bumped me up to over $4000 for the year and we are only half done with the year! The affiliate and Google adsense marketing revenue has picket up a lot this year, which has been nice. At the end of June, I used 50% of that revenue to go towards my mortgage payment and I'm planning on buying an Intel NUC server that will help me setup a home lab and create “nested” virtual environments. Fun stuff! The plan is that in July to use 100% of the revenue to pay down the mortgage though.
- Two Checking Account System – [2016 Goal – $500 – made $263.00 thus far] – our launch of the two checking account system for the past two months have been very successful. We are continuing to look at new ways of making new content for this relationship and how we can help readers make money and make saving easier.
- Schwab Monthly Income Fund – [2016 Goal – invest $1200 and make $100] – contributions to this fund have halted for the last few months, because we are focused on paying off our house. I forsee this will be a lot of the same for the coming months as wee continue to keep focused on paying down debt.
- Amazon's MTurk – [2016 Goal – make $500 – made $30 thus far] – in April and May I made $30 from MTURK and transferred that money to our fixed expense account. We are using that pay down our debt, and keep focused. Hopefully I'll have more time to devote to this in July to help me pay down debt.
I know finances for a lot of couples is difficult subject to talk about. Especially if you and your spouse aren't in a good financial position