Author Topic: I just sold my homebrewing equipment to pay down debt  (Read 1532 times)

StAugustine

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I just sold my homebrewing equipment to pay down debt
« on: February 17, 2015, 06:33:00 PM »
I am a recent convert and repentant sukka consumer.  One of my favorite hobbies is homebrewing.  Prior to discovering this blog, I had amassed a large collection of gear for this purpose, including an outdoor propane brewing set-up and a kegerator with 10 kegs.  Whenever I received gift money from family, I spent it on my homebrewing gear.  It was a gift, so why not spend it on something I enjoy?

The only problem with this line of thinking is that I currently have over $200K in student debt.  It's actually the good kind (MD debt) and I am grateful for the opportunity to learn my profession, but goddamn, I was clueless about finance.  It felt like Monopoly money to me.

After realizing that my debt was indeed an emergency and that my hair was in-fact on fire, I decided to get serious.  No more frivolous purchases, no more eating out, no more expensive beer (well, maybe some expensive beer).  Integral to my plans was downsizing my lifestyle and jettisoning my excess belongings, including my bulky homebrewing gear.  I am preparing to move for residency and I plan to only carry what I can fit in my car.  I will keep homebrewing, but using a smaller pot for stovetop BIAB (brew-in-a-bag).

I listed my homebrewing set-up on my club's list-serv and got an offer later that day.  My homebrewing and kegging gear went to a loving household and I got a check for $850.  Conveniently, this is almost exactly the remaining balance of one of my private undergraduate loans.  Tomorrow, I am going to call the billing agency and settle it outright.

It's a small step (~0.3% of my total loan obligation) but it feels amazing to take the first step towards FI.  I hope that someday soon I will be worthless and soon after that FI.  I plan on working in my field as long as I enjoy it, but I think that I can achieve FI at the young age of 40 assuming that I can keep this momentum moving forward.

I just wanted to brag on this forum, since my peers are not generally interested in MMM principles.

triumph07

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Re: I just sold my homebrewing equipment to pay down debt
« Reply #1 on: February 17, 2015, 07:33:51 PM »
That had to tough be tough to sell that, nice job! I am currently in the process of getting rid of excessive things myself, not always easy to do.  Congrats on med school too, and good luck with the residency!

2ndTimer

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Re: I just sold my homebrewing equipment to pay down debt
« Reply #2 on: February 18, 2015, 12:32:39 PM »
We gave ours to our chiropractor.  He was glad to get it.  He likes to ferment things.  It was more a matter of the Hub needing to make weight every six months than money. 

Retired To Win

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Re: I just sold my homebrewing equipment to pay down debt
« Reply #3 on: February 18, 2015, 04:25:43 PM »
I may not have any debt to pay off, but I do have a slew of gadgets I no longer use and could convert to cash if I would only get off my butt and do it.  I'm surprised someone hasn't already made a web-based business out of folks (like me?) who would seriously consider outsourcing Craig's List "processing."