The following post is authored by Derek from Life and My Finances.
Do you have any idea what an extra $1,000 could do for you? This extra income could change your life dramatically! Believe me, I have experienced what it was like before and what it’s like now, and the extra thousand bucks has definitely made my life a lot easier.
What Can $1,000 Buy?
You are surviving on your current income, right? So if you made another $1,000 every month, this could really be used to buy anything!
- buy a cottage on the lake (in addition to your house)
- buy a brand new BMW or Mercedes (with payments of course)
- go on a huge shopping spree at the mall
- sponsor 30 children in Haiti
- go golfing every day
Now, I wouldn’t suggest doing most of these things (they just aren’t financially wise), but I just wanted you to understand how huge an extra $1,000 is!
My Personal Story
My wife and I got married soon after college and had no idea how difficult it would be to make ends meet! Our apartment was small and we lived on the outskirts of town, but yet, our paychecks didn’t quite seem to cut it. After about a year of struggling, I decided to start a side business of my own. I really had no idea if it would ever yield an income, but I figured I may as well give it a shot. It took some hard work, but after 6 or 7 months, my website made its first $1,000 month!
Because of the additional $1,000 a month, my wife and I were able to pay off $18,000 in student loans in just over 14 months! Without any debt, the extra $1,000 a month seemed to free us up even more. So, we saved up and bought a house. Not only did the extra income help with the down-payment, but it also comes in handy with the necessary renovations! Without that income, we’d probably still be living in a small apartment and heading toward bankruptcy. Now we’re homeowners and plan to pay off the mortgage in only 4 years!
Think About Your Future
I honestly can’t believe how much the extra income has helped us already, and I’m extremely excited about what it can do for our future! Once our house is paid off, we could live on practically nothing and bank some serious money for our future!
Instead of getting a brand new car on a loan, what could an extra $1,000 do for you and your future? Do you have some student loans that you’d like to see disappear? Or, maybe you’d like to pay for your next car with cash? How long would it take you to accomplish this?
Once you succeed in paying off your loan or paying cash for your car, guess what? The $1,000 is still coming in each month! Pretty soon, the necessities will be paid off and you can start investing in your future!
Are you excited about what you could do with an extra $1,000? I sure hope so, because it really could change your life!