Our income report for November took a dip since October but there are a few exciting updates that you’ll want to read about!
Income: $5,133.19
Expenses: $5,297.91
Savings: $164.72
Updates to our income report
For The month of November, my digital marketing job brought in $2,233.03, my wife’s job brought in $1,938.92 and other income sources were $961.24.
My job was definitely a learning experience. Note to everyone out there, commission-only jobs are great for higher ticket services like real estate, home improvements, or tech sales. Working for a company that provides an average sale price of $300 when the sales cycle is long, is a surefire way to guarantee you won’t be paid even half of what you’re worth.
Therefore, I made the decision to remove myself from an environment where I am drastically underpaid based on the value I’m confident I can bring to a company. I did close a deal it would take me up words of 2 months to get paid for it which is not something that makes sense. Fortunately, I’ll be starting a software sales job in two days which will quadruple my pay.
My wife who works part-time was able to make a pretty decent amount from the hours she worked. The disappointing thing is since my income is the primary breadwinner, this month wasn’t too hot.
On the bright side, our other income sources like our Airbnb, book royalties, affiliate sales, and football coaching job brought in enough to not make this month too embarrassing on our income reported list.
With all that said, I’m grateful that this month happened as it could have been much worse but it really made me appreciate my value. I really value my time and know the impact I can bring to a company.
If I spend my precious time working for someone or a company that doesn’t value me, i’ll be quick to change that. My advice is to keep your options open to other job opportunities as most companies are severely underpaying you and what you’re worth.
Updates to our expenses
I knew this month was going to hurt. right around the holidays is when a large majority of our expenses come in. But the good thing is that we plan 4 months like this a long time ago. Thanks to Ramit Sethi and his book “ I will teach you to be rich” we have automated our savings so we had plenty of money put away for gifts and experiences. If you want to read the article I posted about how to automate your bank accounts, click this link.
Taking into account all of the gifts that were purchased in various expenses, we still manage to go over budget by only $164 which to me is a win, especially in November.
Changes in mindset
We have an exciting new update that recently came up for us. I was at the dentist, I was mentioning that I am interested in real estate and have a property of my own and she mentioned that she already has a few properties in Ecuador. She mentioned that she will plan to move there in a few years as it’s an amazing place to retire and live in general. That sounded interesting to me as I’ve contemplated living out of the country from time to time ever since reading Tim Ferriss and his book The 4-Hour Work Week.
One of my favorite sayings is ” Earn dollars live on pesos, compensate in rupees.” So the goal is to earn the American dollar. That is one of the highest valued currencies in the world. Live on pesos or another form of currency that’s not only affordable but gives you a wide range of options to live a great lifestyle. Then you can compensate employees in one of the cheapest currencies in the world, you’re hacking the system. So we started looking at properties and we’re blown away at the cost of some of these.
So we are extremely interested in working remotely from Ecuador as you can live a really great life there on $2,000 or less per month. We will immediately give ourselves at minimum a $2,000 to $3,000 raise simply by moving there. An extra $3,000 per month would extremely expedite our path to Financial Freedom.
Not only will we save $3,000 a month with additional income sources like my much higher job income. My growing social media channels with my sports brand will turn that $3,000 in savings into 8, 10, 12, or even $20,000 or more in savings per month. As the channels grow, so does income so perseverance is key here. Our goal is to be financially free by the time we’re 30. Making a move to Ecuador would help us achieve that goal much much faster.
If you can’t win the game, change the rules, if you can’t change the rules, ignore them.
Moving out of the country would provide so many additional benefits like extremely affordable housing and healthcare, much higher quality of life as the climate is extremely attractive as well, and the people there are so friendly.
There are dozens of other amazing things about moving abroad that we can cover in another blog post but this is the start of something amazing and I wanted to share it with my audience.
What lies ahead?
I start my new job in 2 days so I really want to see what I think about it in one month’s time. In the meantime, I will continue uploading YouTube videos that I edit and organize all by myself. I realized that by taking full control of editing the videos which I’m fully capable of, I can make it exactly the way that I want it to be because no one knows me like I know myself.
From there, the script will get uploaded to my other blog to repurpose the content on two mediums.
Apart from growing the brand, I will continue improving in other ways whether that’s saving money or increasing income. Our options are always open but our passions lie in growing our brands and real estate. There are really no other areas that we want to focus on as it distracts us from our ultimate goal and allows us the opportunity to be the best versions that God put us on this earth to be.
With all these new exciting changes in our life, the best we can do is give our full effort in this exact moment. The rest will work itself out as time goes on.
We look forward to updating you guys throughout the weeks and months that follow about our mindset and things we have found useful to the world around us.
Until next time
- Eric