So I am looking for advice to start up my stache! My goal has always been financial free, just haven't figured out how to get there yet!
I feel like I am in a good situation (low debt) but I do like the consumer lifestyle - clothes, dinners, entertainment etc. but I am slowly shaving it away to make room for my stache!
My background was a little crazy; I played hoops and got college scholarships so I have no student loan debt, then I went and played overseas for a few years basically breaking even (had I had my stache then I'd be ahead of the game.) Now I am in real estate, working for a small business with no perks, I am a licensed agent and have my own company (did around 30k last year all re-invested back into the company)
Currently:
Rent/Mortgage: $0 live at home, own a house that needs about 40k in work, isn't liveable and has 6k in unpaid taxes and water bills (carry over from previous owner - my dad) Renovated, it could get about $1000-1200 in rent.
Car: 1998 Dodge Durango gas guzzler, 149k in miles, but paid off - It is on its last legs and I am looking for a new one. I am a big guy 6'6 so my options are a limited to what I can truly fit in. I spend between $200-$350 per month on gas - Driving on average of 20-30 miles per weekday and about 20 miles total on weekends. Insurance is $840 per year, could drop it to $480
Food/Entertainment: $200-$500 per month
Credit Card Debt: $5,500 at about $200 per month
Health Insurance: $113, (employee paid)
Phone: Family plan (5 of us) $300 per month, I pay $100 of that we are locked in for another year.
I work for a small real estate company, and my perks are limited at best (they pay my health insurance, that's it, no 401k, no car allowance) The owner is flexible and open to negotiations on certain things though. I drive a lot for the job, as I am always showing houses, and driving around collecting rents. I make 24k salary, and have about 20k in commission possible per year. I also have my RE license and have a part time R.E. biz myself that I made 30k in last year (re-invested back into company)
I have about 10k in cash on hand (two savings accounts and bonds)
I will need a car in the very near future, my durango is worth about 1k-1.5k
So in a nutshell:
Incoming:
Salary: 24K Commissions 20K - roughly 2,566 per month after taxes
Occasional bball training - $1200 per year
Outgoing:
Monthly:
$200 on Credit Cards (5,500 total)
$100 on phone
$300 on gas
$500 on food/entertainment
$70 (car insurance, could be $40 with just liability)
$360 to pay back taxes and water bill at property owned
HELP!