Category Archives: Debt

Livin’ Like a Drug Dealer

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“They must be drug dealers. How else could they possibly afford to live the way they do?”

On the outside, my life might seem glamorous, the life of a drug dealer, full of money and expensive trips around the world. In the last year I spent a week in the Las Vegas area, went on a month-long road trip on the west coast and returned to California a month later to camp in Yosemite, went cruising around the Caribbean and last week was spent visiting a friend in Germany. In two months I’ll be visiting Iceland and a month later I’ll spend two weeks in Kauai, Hawaii.

Most people only ever dream of traveling to the extent that I’m able and some speculate that such a lifestyle can only be attained through illegal means, such as dealing drugs. What many people ignore are the sacrifices I make in my daily life in order to afford to live the way I do. If you want to live like a drug dealer, I can show you exactly how I am able to do it, no drugs necessary.

Rule 1) You Can Have Anything but You Can’t Have Everything. When we are kids our parents tell us that we can grow up to be anything we want to be. It’s true. With enough hard work, we can become anything we want to be but we can’t become everything we want to be. You can have anything you want in life, for me this is travel, but you can’t have everything. You have to make a choice. Do you want to travel or do you want to drive a sexy sports car?

Rule 2) Stop Paying Attention to Others. We only see what other people want us to see. People do not want us to know that they can’t really afford exotic vacations, expensive designer clothes, luxury automobiles, dinner at exclusive restaurants and drinks after work. Our society believes that being rich means looking rich. We spend our money trying to keep up appearances, all the while completely undermining our financial stability. Being rich and having money has nothing to do with what you drive or the clothes you wear. Ignore other people and focus on your own financial situation and on your own dreams.

Rule 3) Stay Out of Debt. If you’re in debt, get out. When you’re always paying for the past, you’re unable to focus on today or the future. Since beginning this website I’ve eliminated my credit card debt and paid off my car loan.  Now I’m able to apply that money towards doing other things in my life, such as travel. Debt holds you hostage. You become a slave to your lenders and you spend your days working for the banks and credit card companies. The money you earn doesn’t belong to you and until you eliminate your debt, you’re not in control of your life.

Rule 4) Stop Buying Shit You Don’t Need. Really. If you want to live like a drug dealer, you can’t spend all of your money on stupid shit that brings no value to your life. My money is spent on plane tickets and hotel rooms, the things that I value and that bring enjoyment to my life. I don’t spend money on media, cigarettes, alcohol, clothing, etc. I live minimally and only try to spend my money on the things that I need. Stop buying shit you don’t need and you’ll have money to spend on the things that you want to do in your life.

Rule 5) Make Life a Priority. Stop thinking about all of the things you want to do in life and make them happen. It took me a long time to stop making excuses. There is always a reason not to do something and so long as you continue to use these excuses as justification for not pursuing your desires, your life will never change or improve. If you want something in life, you can’t expect for it to happen to you, you must make it happen. You have to be aggressive and punch life in the face!

The rules of living like a drug dealer are simple, totally legal and can work for anyone. You don’t need to earn a lot of money to live a great life. You just need to be smart with the money you earn and prioritize the things that are important to you. Once you begin to follow these simple rules and apply them to your life, you can be certain that your life will begin to take shape in exactly the way you have envisioned in your mind.

✓ Goal #96) Pay Off My Car

17 November 2009

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Recently I set a goal to pay off the remaining $3,670.66 of my car loan. I wasn’t really sure if I’d be able to pay it down to zero within the time-frame I set for myself. I rolled some numbers around in my head and figured that if I was able to entirely eliminate any discretionary spending for the next six weeks, I might be able to do it.

Today, six weeks later, I’m proud to say that I was able to pay off my car by the deadline I set for myself. There were times when I wasn’t sure I’d be able to do it … when I slipped with my budget and spent money I shouldn’t have. But I stuck with it and kept my commitment to doing what it took to reach the end.

I had to “sacrifice.”

I had to sell some of my stuff to make up for money I shouldn’t have spent. I did whatever it took to make this happen. Now that I’m free from my car debt I’m looking forward to my next debt; my student loans.

Okay … so I’m not really looking forward to paying them off but I know once they’re paid, I’ll feel a huge sense of freedom. That freedom is something to look forward to. And instead of feeling overwhelmed by the huge amount of money I owe, I’m feeling fired up!

Master of Our Own Slavery

17 April 2009

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"Old Slave Bell" by Schalk Marais @ FlickrIn the not so distant past there was a distinct line between the slave and his or her master.  The slave was considered to be less than human, more closely related to the horse or oxen than to a human being.  They were there to harvest the crops and tend to the chores around the home.  Eventually, common sense prevailed and slavery was abolished, however slavery continues today in a more subtle form and of our own making.  We have become the slave and the master.

Everyday throughout this country, people force themselves to show up for work at a job they loathe.  They do it because they feel as though they have to.  There is no other choice than to suffer through another day, another week, in order to get that paycheck in their hands so they can put food on the table, a roof over their head and clothes on their back.

What people fail to realize is that their money isn’t being spent only on basic necessities such as food, shelter and clothes.  We buy expensive cars, motorcycles, boats, flat-screen televisions, iPods, iPhones, CDs, DVDs, Blue Ray, green rays, plasma rays, death rays, fast food, Aqua Globes, Snuggies, gym memberships, touch screen car stereos, vacations, shopping sprees, designer jeans, perfume, cologne, teeth whitening systems…

If we didn’t buy all of this unnecessary Stuff, just how much less time would we need to be slaves in a job where we are unhappy solely for the purpose of financing all of the things we buy but don’t actually need?  I live a pretty basic life today compared to how I used to.  Sure, I still spend money and enjoy my life, but I do it more responsibly.  I think about how I am spending my money and how it will affect my future.  I consider whether or not what I am purchasing will add value to my life or if it will end up on eBay or a landfill before I buy it.  I used to blow my entire paycheck buying things like DVDs and CDs.  I didn’t have a penny saved, but I had a lot of Stuff sitting around my apartment, collecting dust.  At least I had something to show for all of my hard work, right?

While I did have a lot of things as a result of my ability to spend frivolously, none of it added value to my life.  I may have been entertained while watching a movie, but wouldn’t I have been just as entertained had I rented it or borrowed it from a friend?  Of course I would have and I would have saved myself about $15 in the process, but I wouldn’t have anything to show for my work.

Every single week of my life I have $82 withdrawn from my checking account to make my car payment.  That is money that I never see, it is just gone;  $328 in after tax money each month.  That is over 33 hours worth of work just to pay for a car (net income divided by a 40 hour work week), which is used primarily to take me to work.  Sweet irony.

Many people don’t consider how much money they actually bring home.  A person may gross $40,000 a year but thanks to Federal Taxes, State Taxes, FICA, medical and dental insurance, 401(k) contributions, alimony and whatever else a person may have deducted from their earnings, their checks don’t amount to $40,000 at the end of the year.  People rationalize to themselves that buying a $20 DVD is only an hour and a half of work, but in reality is more than that because you are paying with after tax dollars.

We are spending ourselves into a situation where we really do need that job that we hate so much because now we have a mortgage, a car loan, consumer credit card debt and we keep spending more and more on things we don’t need.  We are the masters to our own slavery.  Until we are able to break ourselves of these spending habits we will continue to rely on a job that doesn’t make us happy.  We will continue to shuffle our feet through the door of a company which doesn’t allow the personal freedom or creativity we desire in a job.

We may as well be pulling a plow across the earth like our ancestors.  The major difference between then and now is there wasn’t a choice in the past but today there is, and we are our own masters.  Whenever you feel like it is time to break free from the chains of slavery, you are in control to make that decision.  The more debt you accumulate and each dollar you waste is another day of slavery.  It doesn’t need to be that way…break free.