Over the last several years I've managed to work myself into a precarious financial situation, in which I'm left with a pile of bills, a pile of money, and if I'm lucky the money pile is bigger.
However, never being one to let reality get me down, I've decided that the best motivation is an audacious goal. So, I've decided that by the age of 30, that is October 13th 2014 I will have all my school loans and personal debt paid off. This amounts to a whopping $43,000 dollars of debt, plus or minus a bit, paid off in just over four years time, or to put that in perspective $10,000 dollars per year.
Given my current rate of repayment this plan is quite simply, impossible.
I don't make enough money to successfully pay off $10,000 per year, plus interest. However if I can manage to create, market, and sell a product that can generate a stream of renewable revenue then this goal becomes not only possible, it becomes relatively trivial to do.
I'm also looking into the possibility of acquiring rental property, most likely HUD property and earning additional income that way. We shall see which way I end up going. Either way, it's a big goal, a crazy goal, and I hope I'm up to the challenge.