Debt free Journey (July)-Wolf at my door.

My debt free journey is over the halfway mark.  I have less than six months to get rid of my debts, excluding my mortgages.

I knew I had to earn more money, but I was not motivated to work overtime. Honestly, I would rather sleep, write a blog, and watch Netflix. I know that if I want to reach my goals much quicker, I need to generate extra income.

Side Hustles Idea to help my debt reduction

Early in the year, I thought about side hustles. I came up with 3 side hustled; selling roses, earning money through this blog and investments. I’ve not earned a penny from any of these ideas.

I’ve done side hustles before. I am successful in buy-to-lets, buying and selling shares.  I used the latter side hustle to raise the deposit for the first buy-to-let.  It was good, but it took time and money. To be honest I am not interested in chasing money. I am interested in buying my land!!!!

I’ve found my dream land in the borough of Epping Forest. The problem that I have is that I am unable to find a suitable land mortgage.  In addition, I do not have the available 50% cash to put down as a deposit. I’ve been trying to think out of the box and to some extent I know how to expand my plans to a larger holding, but I am stumped at the first hurdle raising the deposit and finding a land mortgage.

Traditional banks offer land mortgages, but only to existing farmers.  I am finding it difficult to find a land-only mortgage for someone with zero farming experience.  I thought about the small holding route with a house, but this is expensive and way out of my budget.  If it’s not way out of my budget, then the location is too far, like in Wales!  That’s a six-hour journey, by the time I get there it’s time to come home!

 I remember my dad telling me to rent. My experience renting from others is not too good, hence one of the significant reasons for staying at home.  Anytime I put myself in a position where it is perceived that the other person has control, it inevitably feels like they have this obligated right to treat me like shit.  And when you stand up to their shit, they get mad and start labelling me ‘the angry black woman stereotype’. 

The three powers

Over time my tolerance threshold towards others has become non-existent.  I have one life and intend to enjoy it to the fullest.  This means removing, where possible, everyone’s bullshit.  I am not about to give someone else neither my control nor my power.

I sat and contemplated that your health is a source of power.  We can break this down into two forms the first power is balanced mental health. 

Master this, and the other ultimate powers follow closely.  Your mind has the power to change your habits, even change your genetic DNA.  I was shocked when I found this out.  I thought once you’re born that your DNA was fixed; this is not the case. Through what you eat, how you live and your emotional state you can change your DNA.  Genetic markers can turn on and off simply through the power of thought and emotion.

Having good physical health is your second power.   Without it, the ability to earn money or a living is zero.  The final trinity of power is financial freedom; when I mean financial freedom, I mean the level that you can afford anything you want and pay for it in cash, without having to do a 9-5 job.  This is true freedom.

My opinion about the FIRE movement.

When I look at the FIRE movement, I find that most live on next to nothing or in some random remote place, scrimping on savings.  And they come on youtube smiling; yeah, I left the rat race.  I’m thinking to myself yeah you left the rat race to live like a rat.  Nah, the FIRE movement does not equate to power.

I keep coming back to the same answer. After my debt reduction journey I need to acquire land.  I envision a future where we will live not in towns or cities, but in a more dispersed way of living.  We are already working in a dispersed way; we no longer have to relocate.  We can live anywhere in the world and still be able to make a living. 

My prediction

Communities will be still strong, but they will be smaller and more dispersed.  I will stick my head out and say wealthy families would heavily dominate these communities.  These families would make up the inner core, predominately owning most of the land.   Those not connected to these wealthy families would provide a service to the families by either becoming teachers, doctors, civil service etc.  It would probably take another 20-30 years to see this come to light.

The land is responsible for creating every product available.  From the land, I should be able to save on my food bills and gym membership.  I should be able to make money from Air BnB holidays or plots

Before all this, I must pay off my debts first.  I have adopted a bare-bones budget.  See bare-bones blog budget- 4 essential questions you need to ask.

Unfortunately, no more spend on my plants. Unless I can work overtime.  I am tempted to dip into my savings. However I realise that if I don’t touch my savings, I may have enough to pay off my first mortgage.

Next Month’s Debt Reduction Goal

By the end of next month, I should have my car paid off. I am feeling nervous about hitting the target date.  I can only hope and pray that I will hit my debt reduction journey goal.

If you would like to start at the beginning and read my debt reduction journey you can click this link.

Resources

Debt Free Audio books