The Rules of the Game

So, this section might be tweaked a bit here and there depending on what works for me.

Basically, the goal is to eventually be a millionaire.  =)  I'm starting at 31, so...it'll happen, don't worry!

The first step is to get out of debt so I can actually start saving money.  I'm going to start with one rule, so I don't wear myself out trying to think of rules.  So here is the number one rule:


1) Make a move every day to try and get out of debt. Whether it be to plan on saving some money by buying something cheaper, paying down a credit card, or doing something to earn money to help pay down debt.


Get it? Got it! Good.

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! 

Current Credit Card Debt

Photo Credit: stockmonkeys.com

Well, what can I say?  It started off innocently enough. I was in my twenties, thinking that I could get into some credit card debt with the end game that I would get back in my "investment" with a source of income.  I spent money on all types of business ventures, and nothing really took.  The final one I did really didn't require any overhead and I wasn't fooled (finally) into purchasing some kind of program into learning how to do so properly.  But over time, I had built up quite a debt because of it.

Then, I was in it deep.  My living situation had changed and suddenly, I found myself relying on my credit cards to survive. I kept thinking I would get back on my feet soon, it was okay, it would all work out. But nope, I kept having to spend and spend on my cards to be able to make rent every month and still buy food and gas.  I don't really buy alot, so there wasn't too much to cut out.  I just had to make different choices and hope for the best. Finally, things evened out.  I found myself deep in debt, and just being able to scrape by.

So I put an all out moratorium on using my credit cards.  Only if I desperately needed it, would I use it.  The last time I had to use it was to pay the tax man for doing my taxes. I ended up defaulting on my card. By the time I moved (and now saving money on rent), I had to take all the money I had saved for that first rent-less time and spend it on paying back the collections agent. Yes, it went to collections.  Luckily, once my living situation changed, I had that money to pay it off quickly.  Still, not a fun place to be.  I was drowning. Now I'm chocking on water, still in the water, but not drowning.  There is hope...

When I started The Millions Game (12/19/15), my debt was at 31,540.

Current Tax Debt

Photo Credit: 401kcalculator.org

Well, I have the joy of owning my own business.  This, unfortunately means that I have to pay quarterly taxes.  Here's the sucky part - between paying rent (at the time, $1,750 a month for a studio apartment - because I live and built my business in a very expensive area) and paying back debt and having money to, you know, survive, I didn't have enough money to pay my quarterly taxes. I'm sure if I was diligent enough I probably could have figured out a way to do that.  But I didn't.  I still haven't figured out how to sparse it out correctly so I won't get screwed over again!

My husband is currently working on a project he believes should make enough to pay it back, but it's very slow going and not his only project.  I also don't count his money in this blog, because he doesn't make that much, anyways.  This is the most important debt, in my mind, to pay back as quick as possible before I get in trouble with the IRS. No one wants to mess with the IRS..

Current Car Loan

Photo Credit: Moyan Brenn

I admit it - I splurged on a nice car.  Why?  I practically live in my car, I drive so much.  And as such, I wanted to make sure that I got a good car that would last me as much as I put it through.  I've never not paid my car loan - I have it automatically deducting from my account every month so that I never face the possibility of repossession.  Plus, it keeps me remembering to put money in that account for when things get automatically paid!  It's a good car.  I actually don't regret getting it.  It's what I needed for my business and I didn't get it new.  I'm sad to say that I think it will only last for as long as I have to pay it off - 5 years - since I really put it through it's paces.  But aside from needing to replace all my tires, there hasn't been a problem with my car that I didn't cause myself. =/

Why the cryptic last sentence?  Well, I nearly totaled it a few weeks ago.  It is, however, fixable!  I just have to pay $1,000 now to get it back.  How? I have no idea... Read more about it here.

At the start of The Millions Game, the car loan was at $13,730

The Car Accident

I'm okay. My hubs is okay. Everyone involved was okay.  My car? Not so much.  I was sure I had totaled it when the accident happened.  I was pretty devastated.  I love that car. I practically live in that car!  But there was no changing what happened, and I had to live with it.

Anywho, the good news from the body shop is that it was repairable. I just don't know if how I'm going to pay for it once it's done.  Too many debts hanging over my head - how could I pay for one more?  I'm thinking I will have to use one of my credit cards - that ones I said I would not touch ever again - to pay it off. But how much can I really complain?  I'm getting my car back soon, and hopefully it will still work as well as it did before! Here's hoping...

Welcome to the Millions Game

Photo Credit: TaxRebate.org.uk

Like many people of our generation, I'm swamped in debt and getting a little tired of trying to claw my way out.  That's why I'm creating this blog. I want to have a written testament for the hard work I'm putting into trying to get my debt down.

I don't want to give away too much about myself as I am going to be putting a lot of information up here on what I'm doing to try and lift myself from having nothing to having millions! I'm going to put up honest amounts of debt that I owe, and things I hope to accomplish on my journey, no matter how long it may be.

I think a big problem with me is I have trouble focusing on one thing.  I'm a jack of all trades kind of person. I have so many ideas, but little follow through as the next "ooh, shiney!" idea comes to light. Unfortunately, that's just how I am and it's a little hard to get things going so that I can make something of my ideas. I figure if I set up a blog just right, I can accumulate all my ideas together into one place, so that it will help me focus on things, and if I get so mind-numbingly bored with them, I can look back on my progress and it will encourage me to finish what I started.  Kind of like my own personal "achievement unlocked" window in the video game of my life.

A little about me:  I'm currently 31 years old Latina, living in the good ol' U S of A. I'm married, no kids (or plans to have some any time soon), and a crazy life.  I own my own business, but with my amount of debt, all my extra money just goes into paying it off.

So, how did I get into all this debt?  Ugh.  Well, that's a whole other story that I will link with the amounts when I put them up. Each set of debt has it's own story, and needs to be vanquished.

So, here I go.  Wish me luck!