Wolf at my door – Financial Goals for January 2022.

My first month of actively paying off my unsecured debts.  The Goals for this month are simple:😱

  1. Pay off 1st instalment for credit card.  (Members can see my payment.)
  2. Cut my Overdraft by a third. (Members can see my payment.)
  3. Write and post 60 blog posts to website, by the end of the month. I know me if I phaff around I will never get anything done. The goal is to post evergreen articles out and then come back and make sure they’re a cut above the rest.
  4. Prepare my parent’s side garden. I would also need to prepare the allotment. I intend to plant at least 30 Rose bushes. I’ve been already given a warning by the allottment holders to plant something or else. There are sapplings there, acorns, walnut, hazelnuts, almonds, apple, sweet chestnut. I really don’t know what they want from me I have planted a lot this year so not sure what to do with all the sapplings if I get kicked out.
  5. Keep a financial diary for a minimum of three months. (Read article on how to really keep a financial diary.)  Financial Diary for the first month. (Read First Month’s diary here)
  6. Visit the private dentist, London Smiling. (Already paid.)  I’ve lost all faith in the NHS; There was a time were I use to swear by the NHS, but NHS negligence has made me no longer proud of the institution. 😡 I intend to go private for all my healthcare.

I am both reducing my debts by paying a extra amount each month. I will apply the extra amount to only one loan first until that is paid off.

Simultaneously I am investing money in assets that generate enough passive income to cover the monthly payments for each loan. I have in total five loans. I have one due within 3 month’s time so I don’t have the time to create an asset to pay for that, I’m going to have to take it on the head and pay for this one by cash. This will take three months and will bring me up to March 2022.

I have an extra HMRC payment to make but that won’t be due until next year. Again because of how close the deadline is I don’t think I will be able to create an asset within that time. I should be able to find extra money of two hundred and fifity pounds. and apply it to this balance this should again take another three months to pay off.

That leaves three loans where I can create three assets to throw of passive income each month. The first one being this Finance blog, since I am straightening out my finances I might was well make a note of it.

The second loan will be covered from the interest earned from investments. I’ve already seen investments where I can generate 20% per annumn. Join the newsletter, I’ll keep you posted as to when that will come up.

The third loan will be covered by selling fresh roses. I’ve never grown roses before so this should be a fun ride. 😬

I’ve now made my health a priority. Research states that health stems from initially having a healthy set of gums so making sure mine are in good order.

I return back to work on the 10th so hope to get my head down.  Car has had it’s full service and MOT back in December 2021, again fully paid for.  I am making it a habit to fully pay for any new expenses. And it feels good. 🤟😜

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