How do you handle adversity? Are you thankful for it? Are you proactive?
Over the past 7 years I have not concerned myself with finances much. If I had rent, gas and food then I just enjoyed my life. Now I really hunger to move on to a higher level of financial success. Here is where I am at financially:
Yearly Income: 2011 -est. $15,000 (after expenses & write-offs for a small business, Cool Springs Office Cleaning)
Current Income: $2,000 per month minus business expenses
-$1,800 2010 social security taxes
-$2,000 2011 social security taxes (est.)
-$500 2012 first quarter social security tax (est.)
-$1,800 American Express (amount they’ve offered to settle for in the past)
-$600 Guitar Center cc (settlement amount)
-$600 Comp USA cc (settlement amount)
-$1,200 car loan
-$350 Regions Bank
-$350 Columbia State College
Total= $9,200 of debt!
My personal expenses run between $1,500 to $1,600 per month.
My assets are my janitorial business, my book, my music and my speaking. I work about 15 hours per week, mostly on weekends. I can add a few janitorial accounts but it’s not my passion. I would like to transition to more speaking and playing music.
Later I will post my plan but I would like your input.
What plan would you formulate to be out of debt by December 2012 with $2,000 in savings. How would you create more income by starting a business, selling my book or playing music? The best idea gets a free copy of my book.