The Road Ahead
Travel? Yeah, okay.
After spending a month in New York, seeing family and friends. I think it's time I give my finances a rest.. Come to think of it, I've traveled a fair bit this year.. Hawaii for 6 days, Tahoe twice, New York, Vegas.. Yeah it's time I give travel a break for a couple months lol. With that being said my current financial goal is relatively small, pay off $6.5k in debt.
As painful as it sounds I have a pretty solid plan! Earlier this year my car was totaled, so as far the car payments. Those went away, thank god for great insurance plus GAP. Just to clarify, GAP is basically the insurance policy you'd buy if you want to cover the potential event of an accident and your insurance provider pays less than what you owe on your loan for the car. In that instance you'd reach out to your GAP provider and start a claim. That's what I did and it saved me a few coins. 😊
Why I want to pay off the debt?
My current goal is to clean up my credit profiles and begin the process of purchasing a house. I feel like owning a home is a huge aspiration of mines because as a child we always visited my granddads place on the weekends, and I can not wait to build a place for family gatherings. I believe it is an extremely important part of childhood, teaching children about home ownership.
My side project:
As a side project for now, I'm into wholesaling real estate while pursuing my California license. This is giving me a great advantage on learning which areas in various cities have the month potential for growth, given our current global pandemic. Wholesaling real estate also gives me an advantage on cash flow by letting me step into the real estate game with less startup finances since I'm not taking on the property myself in some situations.