Passive Income Challenges – Paying Off My Debts And More – Can It Realistically Be Done?

Passive Income Challenges – Paying Off My Debts And More – Can It Realistically Be Done?

Posted on 05. Aug, 2013 by in Archived Post

This is what I have been looking forward to…the opportunity to track the impact of my income streams on my debts and expenses. It’s great to have tutorials on how to start an amazon or ebay business, how to invest effectively with Lending Club, how to build niche websites and on…it’s great to generate profits (not just revenue) from each stream and show you that it can be done even after suffering a major financial setback. That’s all good….

But, wouldn’t it be nice if you could see the impact these streams are having on my monthly expenses? To see the streams paying down my debts whether it is a mortgage note (gonna buy a house soon), car note, rent, kids’ school expenses and more. What if I dedicated some or all of the Amazon stream to one of those expenses and track the progress for six months to a year. Some may say “what’s the point?” I believe it will give out energy and a positive message that will create a positive experience in someone’s life. Someone will be moved to the point to at least try some of the steps in my blog posts or on another website to create another source of income to ease their financial burden or move them closer to experiencing debt free living. Just to know that you have tried…..whether you succeeded or not, is to be applauded. Many “want to”, but few “do it”.

Within the next few weeks, I will list a debt and each month you will see the amount from my Amazon stream applied to that debt. I will also show you where the money that was originally set to pay that debt was applied.

I really believe this will help someone….so, stay tuned.

7 Responses to “Passive Income Challenges – Paying Off My Debts And More – Can It Realistically Be Done?”

  1. Sky

    13. Aug, 2013

    This is my favorite part of reading blogs like yours. I love seeing exactly HOW this extra income is playing a role in your life. Looking forward to future posts!

    Reply to this comment
  2. John

    13. Aug, 2013

    Of course it can realistically be done! All that it takes is a commitment to becoming debt free! It would also be interesting to see the income stream applied to a retirement account, to help people become less dependent on the social safety net programs in their retirement planning.

    Reply to this comment
    • Big Dave

      Big Dave

      13. Aug, 2013

      Hey John,

      I like the idea of applying that an extra income stream to a retirement account. Let me think about it for a little while……

      Reply to this comment
    • Sky

      17. Aug, 2013

      John, I really like that idea. I think I might have to start playing around with that idea myself…I’m definitely on the young side which means that by the time I hit retirement age, there’s not going to be much left (at least not the way it’s going now). So if I start applying some passive income towards retirement savings now…hmm….

      Reply to this comment
    • Charlotte

      20. Aug, 2013

      Awesome idea John. Nobody wants to be 65 and working. No only does passive income allow us to set aside money for our retirement, but to continue brining in money as retirees.

      Reply to this comment
  3. Zuri

    15. Aug, 2013

    I’m looking forward to seeing how this works. I think seeing how much your passive income is contributing to your everyday expenses can help you determine whether or not it is even worth your time.

    Reply to this comment
  4. Jessie

    26. Feb, 2014

    Seeing how you use your passive income to pay off debt has really inspired me. I want to be one of those people who actually DOES it and not just someone who wants to. Reading your site is showing me that I really can do this!

    Reply to this comment

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