Goals for 2021: a why behind this project.

Justin and I have been backpacking partners for two seasons now, we started with a short overnight in Northern Michigan in the summer of 2019 while I was getting my body ready for a trip to Yosemite National Park. One of my favorite things about our friendship is how we always have business ideas, we always have a project idea that’s simmering in the pot, and there’s always something to talk about.

One of the projects that’s been on my heart for years has been some sort of personal finance website with a focus on side hustles and building out other income streams to help guide a reader towards some form of Financial Independence.

Tadahhhh!

We’re here. Welcome to To Build Fire

It’s oddly cathartic to sit and type the first words that will be published to a new project. It feels both intimidating and exciting, but most importantly. this is action.

Action is what I want this project to really be centered around. How can we each make a promise to ourselves that TODAY, that RIGHT NOW, we are in the weakest financial position of our lives, and from here we’re moving forward. By following the basic financial common sense of ‘Spend less than you make, and then invest the difference’ we can steadily improve our financial position.

Action is what’s going to get us from where we are to where we want to be, but where do we want to be?

That’s the important next step!

Why am I on this path? Why do I want to achieve Financial Independence, why do I want to start intentionally side hustling? Well, how about I start with what my financial goals are for 2021.

Dan’s financial goals for 2021

Pay Off My Student Loans.

I want to get to the point where the only debt i’m carrying is my house. With my student loans gone, I would free up another 300-400 dollars a month that I can start funneling into investments or to a fund to pay off my house.

I also like to look at what eliminating a payment means in terms of my freedom.

I’ve been self employed since spring of 2017, and my barebones, probably living on ramen or something as awful, financial need is about 2000 a month, which equates to 500 a week, or 100 a workday.

If paying off my loans frees up 300 dollars a month, that’s the equivalent of me giving myself 36 more days of vacation a year. And our goal is to get to 365 days of vacation a year 🙂

Stop using credit cards as an excuse to not pay attention to my budget and to spend money like an @sshole.

After a trip to the Smokey Mountains this last fall, I stopped taking my finances seriously, and i’ve been unintentionally spending way too much on credit cards in the following four months. There’s some balances that I need to clean up, but the truth is that I need to establish the habit of keeping to a budget. That gets established as a permanent habit here in 2021.

A backpacking trip out west.

Justin texted me this morning asking if I wanted to join him out in Grand Teton at the end of august.

I said to count me in.

But. we need to pay for it, so lets get to work.

What about you?

Do you have any specific financial goals for 2021?

I’d love to hear about them, maybe we can find ways to work together towards a better financial picture.