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The Light at the End of the Tunnel

New methods to earn money - Posted: 3/30/2009

Before my financial awakening, I wouldn’t have had money to save. I was still accumulating debt. (What’s more, I had no idea what a certificate of deposit was. And if I had known, I would have thought it was boring.) During the first stage of money management, I had some inkling about CDs and CD rates, but I still didn’t have money to save. My extra cash all went to repaying debt.

Ultimately, however, the transition from the first stage of money management to the second was less difficult than I feared. For one thing, I had already developed solid financial skills while working to get out of debt. By cutting my expenses and increasing my income, I had generated free cash flow of over $1000 a month. Back in the zeroth stage, when I was living paycheck-to-paycheck on $42,000 a year, I could never have imagined freeing up $1000 a month. Yet in just over three years, I did just that.