I’m a couple of days late with this entry; forgive me. Things have been, interesting.

When I decided to create this debt reducing thread, I had a few ideas as to how I’d proceed.

My original plan was to work more and generate income, in effect creating a surplus to my monthly income. That surplus would then go to reducing my outstanding debt.

But I hit a snag. The overtime that was offered was snapped up like bread in a duck pond by keen eyed colleagues. I missed out on some great opportunities in January.

(My daughter is sitting on my shoulder and reading everything I type out loud. It’s annoying, bless her)

I also had a bout of the flu, which lasted around 3 weeks. It incapacitated me, showing another flaw in my plan.

But I have more plans – income generation.

Jumping about

Let’s back up a bit. January wasn’t all bad. I did manage to secure some overtime, some extra work delivering training, and offered my availability to do some shadowing/monitoring for some other stuff on the periphery of my day job. That was promising and it will show its rewards at the end of this month.

It also all materialised around the same time that I was starting to worry that nothing would turn up.

January is a long month

Historically it felt that way anyway. The issue of Christmas spending and a payday that can leave you budgeting for 6 oncoming weeks can make you feel the pinch, but last year I planned properly and all was well. January was just another month.

I guess sleeping through a third of it helped.

On the downside, the credit cards have remained static, rather than showing signs of reduction.

This might take longer than I thought.

Changing shape

I had meant to look at shifting regular payments onto my card, then paying more of my salary into them per month.

I haven’t yet. I will.

It might work.

Income generation

This isn’t a new thing. In a much earlier post I spoke of how some of the greatest financial whizzes out there talk of wealth creation methodologies.

Three income streams is the key. The theory being, if you lose one stream you still have money coming in.

In these days of redundancies and corporate collapse, we need all the security we can get.

Passive income seems to be the ideal. But does real passive income exist?

I’ve been working on a couple of digital sidelines and I can tell you, they take work! I’ve no doubt that once they’re up and running the time taken to tend them will fall away but for now, it’s work work work work work.

Investing

So here’s the key; the realisation that opportunities to work more in my current role are susceptible to my health and the speed of my response to an email has led me to the realisation that I need to invest more in my sidelines. This will mean investing in myself by getting some training/mentoring.

Gurus here I come.

BSD

January 2017

Card 1= 97.9% utilisation

Card 2 = 99.4% utilisation

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