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How $1,000 a Month Could Change Your Life

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!

You could:

  • 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!

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20 comments to How $1,000 a Month Could Change Your Life

  • I love the motivation and inspiration that you all provide on this blog. An extra $1000.00 a month can certainly be a great part of becoming debt free. I look forward to using some of the wonderful advice provide here to build my blog revenue.
    Lisa @ Cents To Save recently posted..Tying Up Loose Ends TuesdayMy Profile

    • admin

      Thanks. I am hoping to be able to increase my blogging income over time and decrease my debt simultaneously. Good luck to you.

  • Great inspirational post here! I know $1000 extra a month would make a world of difference in my families life right now as I am sure it would to so many others!
    Poor to Rich a Day at a Time recently posted..Can Freegans Teach us Something?My Profile

  • Fantastic inspiration! I am working on a few options that will hopefully bring in an extra $1,000 or more per month. It’s exciting to think about how much more progress I’ll be able to make with my financial goals once I reach this point!

  • Mary

    Oh, what I could do with $1,000 more a month! I could double my mortgage payments, paying it off quicker and saving a ton of interest, pay off my credit card fully each month, and just on and on. Thoroughly enjoying these blogs!

    Mary

  • If I can get to $1,000 per month by this summer, I will be one happy man. In turn, my wife will be one happy lady. Scratch that “if.” I’ll say “when,” and when I do I’ll submit a guest post for this site. I’m working hard to learn all that I can about blogging and how to make money from it. This site is going to be an incredible resource.
    Matt recently posted..Comparing U.S. Budget to Household BudgetMy Profile

  • An extra grand a month is almost like having an additional worker in your household! There are a lot of great things you can do with that. I really think you have a lot of potential with this site. :)
    Invest It Wisely recently posted..5 Tips for Your Personal Finance in 2012My Profile

  • Sigh. $1000 per month is about the amount that our monthly budget is currently in deficit. So an extra $1000 a month would change my life for the better – considerably. I’ve followed your writing blog for a couple of years and am impressed at the progress you have made with your blogging. For obvious reasons, I will be an avid reader of this blog too…

    Good luck with your next $1000 per month!
    CentsableOne recently posted..Building a Location Independent Income – The VisionMy Profile

    • admin

      You are exactly the type of person that I am looking to be able to help. There are lots of people who need some extra money to make it. It will take some work, but you need to get spending and earning in line. I will do my best to offer information on what I have learned. Good luck!

  • Derek, you forgot to add that later your blog can bring you more than $1000 in a month. Am I right?
    Alexander @ PipBurner recently posted..Forex Time Frames: Pros & Cons and What Is The Best One to TradeMy Profile

  • Frank

    I like the concept. The other way to look at this is to create an additional $1,000/month by saving money. I’ve been lucky to have a good job with good income, but was dumber than a box of rocks when it came to my spending habits. Two years ago I woke up from my stupor and I “gave myself a monthly raise” by doing the following:
    $120 cancelled Direct TV
    $400 paid off my car and did not take on a new payment.
    $300 cut back on taking a family of 5 out to eat.
    $30 switched to cheaper Internet provider
    The “extra” money made me debt free except for the house and a small student loan, that loan should be gone in the next 4 months. Next goal is to build a six month emergency fund.
    The above is not quite a grand per month, but it is life changing no less.

  • A grand a month within 6 months of blogging is pretty darn good. Congrats on your success and paying off your debt!
    Ryan @ Planting Dollars recently posted..How Much do Bartenders Make?My Profile