My Ambitious New Year

This year I have a new resolution to feel healthier. I'm not normally one to make resolutions. I'm forging new paths to destroy the stress that challenges my health. The biggest stressor is financial stability. Stress isn't healthy. So here I am. writing this as one of my many ambitious goals to succeed in making a small improvement on my finances. For me to truly live a better more healthy lifestyle I need to get a handle on my finances. I'm working more now to work less later. I can't stop feeling this stress and worry if I never try to do anything to correct it. It might not be a true resolution to become more ambitious, But I feel it is to tell myself I have to start forging these paths to a better life and the sense wellness it will bring me.

Now I work 40 hours a week just like everyone else. I work that 9-5 or in my case that 11-7:30. Its no secret that working 40 hours a week can take its toll on the body. Physically you are worn down. Mentally, you are exhausted. This isn't healthy living. My company offers Paid-time off, But I have bills. Those bills require me to work more than 40 hours a week to be comfortable. I'm putting all my time and effort into something that just barely keeps me above drowning. I'm not going to say I'm not paid well because I truly am. I'm being compensated for my labor the most I have ever been. The time it takes to make that amount of income isn't great though. Most peoples goals are to cut some expenses, Mine are to increase my income streams. So I spend a little more time to get some real rest later.

The turn of this new year I have more bills than ever. At the end of 2020 I took on my very first mortgage. This has been an amazing accomplishment for me but it's also a large new bill. I get a new sense of freedom but I also get a sense of despair knowing I've entered myself into a 30 year long commitment to a debt of 80 thousand dollars. I have a car loan for 11 thousand dollars on top of that. Together I need 927 dollars a month just to pay for them. That's a large chunk of cash even if I don't count the insurance cost for another 101 dollars a month. These expenses are adding up quick. My vehicle is necessary to my work. My Home is necessary to my shelter. Sure I could rent, but honestly rent is so much more expensive in my area and I have a great rate at 3.125%. This way I'm building equity and having a lower monthly payment than rent. In my experience renting, the landlord is supposed to be in charge of repairs. I've never had support of my landlord like that. I've always had to pay my own repairs. I'm taking charge of my bills and knowing my expenses. If I could make even 500 dollars a month more, I would have a great margin of savings going for myself.

To battle these financial stresses I'm taking on new paths of income. This is one, sure, But perhaps the one I'm most excited for is this new venture of mine known to the internet as drop shipping. Now what is drop shipping? Well to explain essentially I as a store owner provide a platform and marketing to sell goods made by manufacturers that don't necessarily sell to individual consumers. The drop shipping method means I handle listing the product, I advertise it, and essentially I'm the salesman. I never have to hold inventory either. In drop shipping the manufacturer will take the customers information and ship to them rather than to you to hold inventory. They handle the shipping so you don't have to even see the product. Unless you want to take the path of having a fulfillment center or warehouse. This means faster shipping times as many manufacturers are based in China and therefore shipping times are long. Now this is a popular business model so there are many many competitors out there. There is a good possibility I'll fail, But I'm not out too much money. I don't have to hold inventory and I don't have a high overhead. To start your own store it's only a couple hundred dollars, you could start for less but thinking like the amateur investor I am. you get what you put in. If I don't pump advertisement how can I truly expect anyone to come buy my products and how can I even hope for success. Now there are plenty of stories of people making a whole lot of money off this. I want to be clear when I say I don't expect that. I as I said would be fine with 500 dollars a month extra.

Now If taking up this Vocal idea wasn't bad enough. This year I fully intend to improve my investment strategies on the stock market. I'm going to hit my 2 year anniversary of investing and I want to ramp up my ability to make savings. If I grow my savings only 20 times I could potentially have an account that could provide enough yearly income that I wouldn't even have to work 40 hours a week. Would I quit my job though? no. There's something to be said that trading isn't always a sure fire way to secure your future. It's risky. you could lose big money if you make little mistakes. You need to take on risk management and this year That's got to be my goal. I made a nice return so far, But I know it could be better if my risk management was better. It's a skill and a headspace that any trader needs to master to be semi successful. Trading stocks, and Crypto-currencies is a good way to look long term though. Ideally, you should never risk money you can't afford to lose. Well, I can't afford to lose any money. I'm taking a super risk by having a trading account in general. I use Robinhood so all my money is either sitting in their cash management collecting interest or sitting in stocks collecting dividends when I'm not actively trading.

I have small goals. I would say obtainable goals. Improving my finances is going to be a huge weight off my shoulders. I'm doing this all on my own. I've always been the one to support the others around me. It's clear that I don't have that same support. So for me, When my girlfriend asked why are you doing this? I had to say so I could achieve a less stressful lifestyle. So I can afford to take time off from working 9-5. It's not that I'm quitting anything or expect to be able to sit on a beach somewhere just collecting money in the sun with my eyes closed. It's that I need a little boost to feel safe. If I don't grab on to opportunity. I'm going to stay in this state of mind where I'm constantly stressing about bills and I'm constantly exhausted from working.