Income: $12,683.23
Expenses: $4,994.03
Savings: $7689.20 (60.1% Savings rate)
Updates to our income report
For the income report month in November, my primary B2B Sales job brought in $5912.82, The secondary High ticket sales job brought in $2861.3 my wife’s part time job brought in $799.97 and other income sources like business income from Amazon, Airbnb, Book Sales, and Our Rental Property was $3,877.06.
To date, this is the highest earning month we’ve had as we’ve been fortunate enough to start getting the hang of being In our new Cincinnati home. (Yes, we moved out of Texas! Post about this is soon to come!) The main drivers for our income currently is the sales jobs that I’m fortunate to work in, then our other rental property gives us around $700 in monthly cash flow once the mortgage is covered with the tenants payments. From there, our Airbnb is reducing our new mortgage anywhere from $1000-$1500/m Currently we pay about $2,800 on our mortgage at a 5.625% interest rate. Not the worst thing in the world but we’ll definitely aim to reduce the rate when everything settles down. In the meantime, we’ll do some renovations around the house to beef up our property value. When we refinance, we’ll have a much more juicy cash-out amount.
Updates to our expenses
As mentioned above, we moved to a new house. There are quite a few purchases we’ve made over the past few weeks in order to make the home feel more comfortable. It’s great though because we’ve got money put to the side for certain projects so we can make it happen.
The biggest expense this month was for a cold brew vending machine that we’ll be putting in a location late December. That was $4338. Now you might be thinking, “Why are your expenses $5K if you spent $4338 and $2800 so far.” Well first, simmer down. We’re calculating Net expenses. Simply because our money is bucketed depending on the category. Therefore, we’ve got the money set aside for a larger purchase such as a cold brew vending machine.
After the home and vending, the rest of our expenses are minimal. We did go on a cruise (again reimbursed through past months savings) so our travel expense was next. We visited Cozumel, Costa Maya, and Jamaica. All very fun and my wife and daughters first cruise! We went on the Jewel of the seas and while it was a blast, looking back, we would choose a different ship for more kid-friendly options. Although we thought this ship had a daycare option, they did not. Nonetheless, we still had a great time just a little tougher than we thought just because our daughter was with us everywhere on the cruise. You better believe we went out until 10 PM with her asleep in the stroller! Gotta do what you gotta do amiright??
After that, the only expenses were food, bills insurance and miscellaneous purchases.
Now we love spending money on things that bring us joy. Going shopping doesn’t bring us much joy so why not use that money towards something like healthy eating or going on vacations? Ramit Sethi calls it a money dial in his book I Will Teach You To Be Rich. (would highly recommend you read this book as it shifts the way you view spending so you can do more of what you love)
Changes in mindsets
So much has happened this year and we’re extremely thankful that things are becoming more clear as what our path should be. At this current stage, it is heavily focused around continuing to improve at our jobs, build out our vending empire, and grow this blog (thank you for reading these brain dumps)
One of the best things that has happened in November is that we’re finally paying attention to doing more for ourselves and building something for our future. That has allowed us to be more intentional with the things we buy since we’d rather put the extra income into more investments that allows us to progress even faster.
What lies ahead?
Our goal is to have 10 vending locations by March 1 2023, and work full time on our businesses and high ticket sales job by March 1 as well. (B2B sales is great but there’s much more earning potential in high ticket sales with the right offer) We’re consistently working to develop our writing skills to make the messaging better on here, travel more (big goals for 2023 so stay tuned) and still building out the sports brand as time goes on. Lots of things in the works but it’s all for the best. What’s important is that we do what excites us and we believe in. There’s no point in working on or spending your time on things that drain you. Reminder that you only get one life so you might as well take some risks and take that leap of faith to do something for yourself. You won’t get out alive so make each day count. Thank you for reading and please share this with a friend to follow along on the journey and inspire others to start working towards their own path to financial freedom.
Until next time
