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Paying Down My Student Loans Quicker

This morning I made a payment of $660. So after this payment clears, I will have a remaining balance of $20,999.98. So slowly but surely. I know my payments will have to restart in January 2022. So I am trying to kill what I can before interest starts accruing.

I have another $140 to apply to it this month. I am also waiting to hear back from the state on the money the comptroller was holding in my name.

I researched more about loan forgiveness and for teachers, Perkins can forgive 100% of the loans. But I checked today, and I have Stafford loans. So I still qualify for the potential $5,000 forgiven after five years of teaching in an impoverished school. We see how that goes at the end of this school year.

Cheers!

-Emilio

How To Payoff Student Loans Faster

So I recently wrote about another post on how I found out that I have savings bonds in my name, and that the state in which I live in had money for me.

Yesterday I was able to cash in those savings bonds for around $800. It went well and my bank deposited into my savings account. Before I apply this money to my loans, I owe $21,659.98. I have $403.10 in unpaid interest. I plan to forsure throw the $800 at the loans tomorrow morning.

I sent in my paperwork for the $200 the state has in my name. So I know it will take sometime there to see what happens. I’m not holding my breath but I will follow up in a few weeks.

My Mentors

I have a few mentors and coaches that I’m on their email lists. And many of them are talking about 2022 goals. But I am reading Atomic Habits and Richer, Wiser, Happier. And both of these books talk about enjoying the process or “systems” of reaching your goal.

My main goal in 2022, hopefully, will be to payoff my student loans for good. So as of today, that is to knock out $21,659.98 in student loans.

The process will look like, researching ways to pay them off sooner. Using those ways. Communicate the whole process in blog form, to help others achieve the same goal. Then help my wife kill hers. That’s the plan.

Wish me luck on that one for sure.

More Than One Way

So when looking at a problem, you really have to look at it from different angles. When my wife and I watch the NFL, it’s great that we now have way more than one angle to review a play. So we have to use that idea in the same way when attacking student loans.

One way is that we could pay them down. Another angle might be able to find someone else to help pay it down. Another angle may be for us to get a partial forgiveness on the loans.

That is my next approach for the student loans, is getting them partially forgiven. I am a teacher full-time and I have been teaching for more than six years. There is a forgiveness incentive for teachers who have taught at impoverished schools for at least five years.

I am hoping to meet this at the end of this school year. That could be potentially $5,000 forgiven. Which would be huge, cause that’s almost 25% of what I owe now.

I plan to find more angles in attacking my student loans, and I hope to share all those ways on here.

Wish me luck!

-Emilio

Charlie Munger’s Invert Method

As I continue to read through Richer, Wiser, Happier, I am in the chapter about Charlie Munger.

As we all know Mr. Munger is highly regarded as an investor. For me, his most played video is when he says the first $100,000 is the hardest to reach. But when you reach that, you can back off the peddle a bit. I think there’s a lot of wisdom behind that statement.

But I have never read much on him or about him. But this chapter talks about his “Invert” method to life. It’s almost like reverse engineering. He gives an example of: “How can we help India?”. He goes, that’s very hard to do, but if we turn it around and ask: “How can we ruin India?”. That gives us a lot of ideas and how not to do those or prevent those actions. I really like this method.

I want to break this down for myself. I want to be wealthy. So I invert this: How do I not become wealthy? For one, not working would make me not wealthy, or trying to bring in some sort of income. If I spend all my money on useless things, that would make me not wealthy. If I kept buying a new car every year, that would make me not wealthy. If I didn’t invest and save, that would make me not wealthy. If I didn’t have enough income coming in to live below my means, that would make me not wealthy.

So from this inverting, now I revert these answers to become wealthy. To become wealthy I have to work, save, earn more than my expenses, no new car payments, invest, etc.

I LOVE THIS STRATEGY!!!!

Let’s try it with something else: “I want to live long”. So we invert this statement to: “How do I not live long?”. Well that’s a long list. Doing drugs will take your life pretty fast(heroin, smoking, drinking, etc.). Riding dangerous vehicles(motorcycles). Being a robber or felon. Having a horrible diet of just red meat, beer, fried everything. Working in a job that has a short life span. Stressing my body constantly. Not getting enough sleep.

Now, lets revert all the answers. Sleep and eat well. Don’t do drugs. Don’t commit anything illegal. Create a non stressful living environment. Don’t associate with people that do anything otherwise.

That looks really good to me!

I plan to apply this method to a lot of other things in my life as well.

Thanks Mr. Munger!

Cheers!

-Emilio

How I’m Trying To Pay Down My Student Loans Faster

So I owe $21,659.98 in student loans. I have paid down about $1,200 this year so far. I would like to pay down my loans sooner and faster.

Obviously there needs to be money coming in to pay them down faster.

Unclaimed Money

This is the first place I looked. I Googled: “unclaimed money texas(obviously use the state you live in)”. From there I also checked the other states I had lived in prior. I found that I had around $245. One claim was from an old cable company, the other was from my insurance, and the other was from a former work place.

I had to fill things out online, then they emailed me the paperwork, and then I have to mail in everything. So I’ll write another post on if I got all of this.

Money Laying Around

My mom had some old savings bonds at her house for me. So I am thankful a few aunts and my mom decided to invest in me when I was just born.

I calculated the bonds, and they are around $800. That’s a lot for just asking around and seeing if there are any valuable things in my name or that are/were for me.

Old Jobs

There were a few old work places that I worked at formerly that I know had investment accounts that started as soon as you were hired. I will check with them to see if they have anything in my name.

I will write another post on what I find.

Other Ideas

I use to work on Fiverr for fun, so that might be something else I setup. I would also like to clean garbage cans on the side. I got this idea because mine is dirty and I wanted to know if I could hire someone. There are people in my area, but I was thinking I could do it myself, and maybe do it for others in the neighborhood for a small fee.

I’m a dude, so no one would pay for my onlyfans, lol. But I plan to find more ways to bring in extra income to hit these loans.

I have also been successful with a small online business that brings in a couple of extra hundred a month. So I plan to use that to help hit these loans as well. But the main takeaway from my small business is that I solved a deep pain point in my life a while back ago. Now I help people solve that same pain point with a digital product. So maybe you could do the same.

I hope this helps. Best of luck on your endeavor. I hope to keep you posted on mine.

-Emilio

How To Make Money On TikTok

Being a blogger who has monthly income coming in from it, the system would work the same with a TikTok account.

First, you will have to put it as your main mission to help people. That is the most important part. You genuinely want to help people succeed somewhere. For me, it is to help people become wealthy and live the livestyle that fits their desires.

My first business was to help fist year teachers who work in Texas. From there I built a small audience. Then when I came to a really hard point that I had to solve, others had the same problem as well.

So first, find a group of people you want to help. From there, you want to help your audience solve a deep pain point.

Once you have a solution for that pain point, you want to offer it as an affiliate partner, or as a digital product.

Case in point. I was wanting to increase my python coding abilities and came across a TikToker who specialized in Python. He shared some cool tips. He seemed really knowledgeable. So I went to his website and bought his course for $27. He helped solve a problem, with his own course. I was happy that I got to learn more about something he was interested in, and I he was happy to be compensated for his time of setting up that course. It was a win win for both of us!

Case in point for affiliate offers. My wife found this lady who finds the best deals on Amazon, she is an affiliate partner with Amazon, so she gets a very small percentage of each purchase. But my wife is happy, because she gets a great deal, and the lady is happy because she makes a lot of small commissions that really add up. It’s a win win for both!

So right now, to make money on TikTok, you have to become an affiliate partner or create your own product to really make money.

That’s the same model you will want to follow. I wouldn’t depend on getting a million followers just to entertain them. TikTok is not like Youtube, where you can get paid vast somes of money just on followers and views alone. You have to offer something yourself.

I hope this helps!

Best of luck!

-E

How I Plan To Start Copywriting

So I have two blogs, one does very well for being a side business. I love to write and help people.

I was on youtube trying to search for ways to get into the copywriting game, and Justin Goff and Jorden Makelle keep showing up.

Jorden does a really good job of explaining what to do. Justin is really good at pithing his mastermind group. The biggest takeaway is that I’m kind of jealous that there are people making over $10,000 a month. That might not be consistent for them, but I would like to hit that personally.

I have my full-time job that brings in $3,300 a month. My side business brings in $1,000-$2,000 every month. So my monthly income varies from $4,300-$5,300 a month, net. Which is really good, and I am super fortunate, but there is a part of me that is still hungry.

Part of me knows that even if I hit $10,000 a month, I may challenge myself to $100,000 a month, lol.

I like Jorden’s approach of cold emailing. Justin so far hasn’t just come out and said where to start, but his interviewees kind of give you an idea.

I also don’t know if I just want to ramp-up my blog that is doing well to $10,000 a month.

I hope to share where I go, but the goal is $10,000 a month consistently.

Cheers!

-E

Do I Have Mild Symptoms Of Covid?

So this morning I lost my sense of smell, then by the afternoon I lost my sense of smell. As of right now, of these symptoms being lost, I have a slight headache and my nose is super congested.

I am taking my covid test tomorrow, but I’m pretty confident that I have Covid. I have never had symptoms like this before in my thirty years of existence, so I’m pretty sure.

But when everyone talks about losing taste and smell, it always seems like it was sudden, or that other symptoms never appeared before hand. I will try to go into detail about my case of Covid.

Today is Wednesday, I’m taking a wild guess and think I got it either Sunday or last Friday. That was when I was last in a public setting. Monday my shins started to feel soar, and I was starting to get light sniffles. Then by Tuesday I will getting light chills. but not actual chills. It did feel like my body did want to take a fever on, but it never ended up happening. Then this morning at breakfast I could tell something was really off, because I barely could taste my food. It wasn’t a complete 100% loss, but around 95% loss. That was at 7 am this morning, but at the time I could still smell.

But by 2 pm this afternoon, I couldn’t smell much. I grabbed some intense smelling hand sanitizer and I got a very faint whiff of it, but not like the extreme potency it always has. Then I sprayed my deodorant on my hand around 4 pm, and I could very faintly smell that as well. So not 100% loss, but definitely 98%-99% loss of smell.

I still have no fever. I have a headache, but found this physical therapist on Youtube that suggested on how to handle a mild case of Covid.

I will try to write tomorrow on other symptoms. I am quarantining and calling off work until the weekend. Hopefully over the weekend I will get my results and take next week at a time.

Hope this helps.

Millionaire Fastlane Notes And Thoughts

MJ DeMarco is doing an amazing job at painting a financial picture. It’s very simple, yet mind blowing. He breaks wealth down into three different paths, or “lanes”. He talks about the sidewalk lane, which consists of those working minimum wage jobs and below. Then, he talks about the slow lane to wealth, which would be those who are college educated, make a decent wage, and hope their 401ks and Index Funds will be enough.

Then he talks about the fast lane. The fast lane are those who create an awesome business, and then sell that business, and make millions from the sale(or billions). He says that this is the quickest way to true wealth.

He also talks about the three F’s. Family, Fitness, and Freedom. For me personally, it’s Jesus, Family, and then work. But also fitness would be part of mine as well, and freedom is what I am striving for.

It’s a big wake up call for me, reading this book. I like my game plan of working harder and smarter, paying off my debt, and investing in an index fund, a roth IRA, and having my state pension. But MJ talks about how that is a super slow lane. I would like to be free of a job, but I know I would still have to contribute to this world. I would like that contribution to be impactful and valuable.

I have to start my new teaching gig in a month and a half. But honestly, I would like to start working for myself, offering huge value and impacting millions. I have a side business right now that helps with bills, but the full-time paycheck is hard to replace right now. Also the benefits of health insurance and vacation time. I might be able to teach for one year, and try to build this idea I have on the side. Then from there, if it takes off, then pivot to that full-time.

I am a calculated risk taker. I’ll take a big risk, only if I know I have a good hand to play.

Just sharing the info to help others.

Cheers!

-E

Paying Down Student Loans, With A Teacher Income

So, as of right now, I owe $22,899 of my students loans. I was in forbearance last year and the year before. But I filled out an income based re-payment application. My credit was low, and this was the biggest thing hurting my credit score overall.

I am now finally in good standing, and my loans are currently with Great Lakes. During Covid and with all the money Uncle Sam was handing out, and also with the help of my side hustle, I was able to payoff my car loan. I think it was just over $6,000 pre-covid. Now that I do not have a car loan to pay any longer, I am going into the mindset that I have recently purchased a brand new car for $22,899. But I would like to payoff this car in two years. So without interest, my payments would be a little under $1,000 a month.

I was paying $270 a month for my car loan, my side hustle brings in $1,800 a month on average, and I would to eventually find a third source of income to help me pay the loans down sooner. I also work full-time as a teacher, so I think $1,000 a month is possible, I just have to manage my expenses well through the month.

So my target goal date is 6/2023. Two years seems like a long time, but with the car mindset, it helps. Because I had a 5 year loan out on my car, but paid it off in 4. Also, I can afford to pay it down, for now. And I’m using another mindset of, do I really want to worry about this the rest of my life, or into retirement. Or will I look back and thank myself for sacrificing two years to get it off our books.

Because you can’t get rid of student loans, ever. You can’t file bankruptcy to get rid of them. If you die, I believe they can come after any ingeritence you leave your kids. It’s almost like they follow you even after death. So ya, two years should be worth it, hopefully.

I’m also not waiting for the loans to be forgiven. I have a lot of friends who are just hoping that Biden cancels our student loans. I highly doubt he will, and frankly, I don’t have control over what the government does with the loans. So I would rather just sacrifice a short time, get it off my books, and not worry about it.

Please leave any comments you may have down below.

Best of luck!

-E

How Can I Make Online, So I Can Stay Home With My Children?

This is a question I get asked a lot by potential clients, and I personally feel where they’re coming from. I have two daughters myself, and love being able to drop everything and spend time with them while they’re young.

I will get straight to the point with this question, in my opinion, the best way to make money online, is through having a blog. My first blog started making money, after six months from when I started to solve a problem. I was able to sell my own digital product for $20. Since then I have added more value, I have increased my prices, and now my blog brings in over $2,000 a month in profit. If I was single and had no children, I would be traveling the world right now, lol. But I love my family and wouldn’t be where I am today without them.

I also love teaching, so I am in no rush to leave my career.

But the most affordable and organic ways to make money online is through a blog, and it’s not that hard to get started.

You could start a blog for free and in less than 20-30 minutes. Step 1: Go to WordPress.com and create a free account. Just use the free domain name for now. Step 2: Decide on who you really want to help with your blog. Is it moms with diabteic children? Is it middle aged men with diabetes and heart disease? Is it teachers with stress? Decide your niche, and who you want to help. Step 3: Start writing helpful posts to help those you’ve decided to help. Write at least 100 posts. Step 4: If you’re still really excited about your blog, buy a specific domain name that encapsulate who your audience is. Like for the moms of diabetic children; “mothersofdiabeticchildren.com”. You want to make sure your domain matches your niche. This will only cost you $18. Step 5: Build communication with your audience. Create a Google Form for you audience to stay in touch with you, and so they can leave their email address for more help. Then start emailing with your audience, and find their deep pain points you can solve for them. From there is should be no problem helping your audience and them in turn being able to help you.

Please feel free to leave any questions you may have in the comments below.

Cheers!

-E