Current Business Debt

Photo Credit: Lendingmemo.com

As I mentioned before, I have my own business. I won't say what it is - only that it involves a lot of driving, and there's nothing more important than the clientele.  Which is what this debt is - I bought a business to add to my own.  We worked out a plan so that I have to pay her back 80% of what I earn from her clients each month.  This worked out well at first.  Now, it's getting a little cumbersome.  The handing off of the business was slow, and while it gave me time to adjust to the new clients, it also meant it is taking longer to pay back to money than I anticipated.  The money is good each month...until I remember I have to pay a majority of it back.

Still, we have a cap of how much I will pay back each month, and this last month was the first time I had ever hit it!  If it continues like this, I will have the debt paid off in a year! Still much longer than I would like, but a year is better than five, right? And once that is paid off, I can put that money towards paying back other debts!  I'm still on the fence about whether this was a good idea or not...

When I started The Millions Game (12/19/15), there was still $27,075 to go!