How I Made $288 in July 2020 Blogging from Home

This post may contain affiliate links. Please see my disclosure to learn more. 

I started blogging right after graduating from dental school without ever thinking I’d earn money from it. At the time, I turned to this blog as a place to record my daily life. Ever since teenhood, I have kept some sort of journal or diary, which has evolved over time from paper to Xanga to Melodramatic, and now onto WordPress. For almost twenty years, I’ve processed information through writing, but never once did I think I would earn money from it.

It’s been three years since owning this site but I am happy to say that it is now getting a little bit of traction and has started to earn me a little income. If I wasn’t working as a dentist during the day, I could see how this could become a steady day job. Still, even with my day job, it had turned into a fun side-hustle for me. I decided to log my earnings for my own personal tracking but also to share publicly how much one can make blogging from home.

Now that remote work seems to be in the near future for many, I do think that blogging is a good option for people who wish to work from home. Likewise, it is an opportunity to be your own boss and have your own space. Since you are writing your own content, you have the flexibility to work whenever you want to, which I know can be a good or bad thing. Of course, you can always practice habits that will separate work from home. Lastly, this is a great hobby or job for creative people. You have autonomy over how to execute your ideas and thoughts, making this a very freeing experience for those who don’t quite fall neatly into a traditional work environment or big company hierarchy.

But first, how did I start to monetize the blog?

If you are new to blogging, you may not know that you can earn income from owning such a space. I certainly didn’t. But then I took this course called Making Sense of Affiliate Marketingand it changed my life.

What is Affiliate Marketing?

Affiliate Marketing is working with brands that you love in order to spread the word about their products and in return receiving commissions for any referred patrons. Sometimes these are physical products from almost any company you can think of. Other times, they are intellectual products such as courses or services that help improve other people’s lives. The best part is that you don’t have to “sell out” to do affiliate marketing. You don’t have to scheme or cheat people. For me, it’s really just promoting companies that I believe in. For example, the companies I choose to partner with are those that promote sustainably sourced products using fair trade and ethical factory conditions. I like to promote small name businesses trying to create social or environmental impact. I try to keep it to an exclusive few even though I’ve been approved for over 2,000 different companies (so far).

There are a few nuances to affiliate marketing and I didn’t know much about it prior to the course. But the course helped me to learn A LOT and it’s just another case of “you don’t know what you don’t know.” You could learn it all yourself, but it’s hard to without a guide to get you through the basics.

I highly recommend this course if you wish to monetize your blog but don’t know where to start.

Extra Income Report

Now, onto the numbers. In July 2020, I made $288 in extra income.

Of that, this is the breakdown:

  • All $288 is from sponsored posts. I count the monetary value of products that I receive as “income”. I do not accept products for review without first learning about the company and product. As a minimalist, I also only look for products that we currently need. I am honest in all my product reviews and list both pros and cons because I want to be as helpful to the consumer and the company, both.

I believe that July was a little low since I published half as many posts as June and May. Yet I received 800 more views than a normal month which shows that this blog is growing.

I know it seems like not much, but as something I do for fun, I think it’s a nice little additional income. Over time, I hope to continue posting more income reports. Maybe it will help others looking for a side-hustle get a feel for whether blogging could become an alternative for them.

As always, my goal with this blog is to promote intentional living. Writing is a way to create a lifestyle that is in tune with what you want to do. Sure, it may not be the perfect job, but if working from home and having flexibility help allow you to live your dream life (one that includes traveling the world or becoming a stay-at-home parent), then I hope this space brings you that value.

If you are interested in starting a blog, I use WordPress. Feel free to sign up using my affiliate link.

If you already have a blog, I want to refer you to the course that helped me monetize mine. It’s a really great starting point. It’s called Making Sense of Affiliate Marketing.

The Real Reason Doctors Can’t Pay Down Their Student Debt

I was sitting at work once (and many times after), talking to colleagues of mine who were all in their early thirties – fairly young by doctor standards. We were talking about student loans (what else?) and how steep the price has become to get an education (in this case dental, but it applies to education in general). We were going through our numbers and they were going through their excuses as to why it was impossible in their situation to pay down debt. Of course, me being me, I gently stated the obvious which was that the real reason doctors “can’t” pay down their student debt was because they thought they deserve more than everyone else.

This statement may hurt many doctors’ feelings, but actually, it’s true.

For example. I had one person complaining about drowning in student debt. He blamed it on the kids and the fact that he is a single income household. Fine. But he also just bought a brand new Tesla SUV. He gets a nanny to watch his kids so that it’s easier on his stay-at-home wife. He gets help (did he say $100k a year??) from his in-laws that is budgeted for the kids. His dining out bill is $800 a month. But he can’t afford his student debt.

Another person also bought a brand new car after graduation, enrolled his 6-month old in Montessori private school, took wild vacations (without travel hacking!), and bought a grand house for their family of three.

Yet another person owns two medical-grade massage chairs in his home, bought his girlfriend a Tesla, and drops $10k on trips around the world.

What if I told you that this story is repeated many times over? I have spoken with my fair share of indebted graduates, especially after releasing my own personal story with ChooseFI.

They all wish to banish their student debt. They also don’t wish to do the work.

Here’s the thing I see most often with doctors. They work very diligently to get through school. They do anything to get to their dream career, including taking out a huge sum of moolah (hell, I did too).  They sacrifice the best of their young years. They put off buying a home, earning money, and settling down. Then graduation hits and they think, “I’ve made it.” For a brief second, they breathe a sigh of relief thinking it’s all going to be worth it.

So they buy a new car to celebrate. Then they buy a home or a practice. They go out every weekend for food. Sometimes they dine out a few times a week! They want to live in affluent communities. They want to go on vacation. They throw themselves a dream wedding. They buy nice clothes and expensive Figs scrubs. But more than all this are the little purchases. They want the daily coffee, the trinkets from the $5 section in Target, the happy hour events, the spin class – you know, the harmless stuff.

They become obsessed with the high-life and quite quickly, they refuse to give it up. 

And if you think I’m being extreme, I’m not.

Because when I graduated, I wanted all these things, too!

The most excruciating part about facing my student debt, the part that nearly killed me, was realizing that after every sacrifice and sleepless night, after giving up the best of my youth, after working three jobs during school, after wracking my brain on ways to extend $40 for another week, after being a model student, the good daughter, the most loyal employee, the most valuable I could be to the community – the work was still not done.

And when I tell new grads coming to me for advice on making loans disappear that they have to use their beat-up high-school ride, possibly move-in with their parents or take on a roommate, cook dinner every night, manage a budget every week, wear their same scrubs from dental school for five more years, and try their darndest to travel for FREE – well, their faces fall and I can see the disappointment plain as day scrawled on their furrowed brows.

Only thing is, I can’t tell if the disappointment lies in the fact that they have to continue living like a college kid for ten more years or if the disappointment lies in me – because I wasn’t the magic genie they wanted that would grant them their wish.

I can tell you how to repay your loans. You just might not like it.

99% of graduates with more than $350k of debt choose to stay with loan forgiveness. Probably because it hurts the human psyche too much to know that everything you’ve done thus far is not enough.

Becoming a doctor does not end the day you graduate. Not for me. It ends the day everything you need to become a doctor is behind you. Loans included.

Not everyone thinks this way, though. Many people truly believe that the hardship stops the day you get the degree. Ahhh, time to sit back and enjoy the benefits of all our hard work. But how can that be when you don’t even know what a hard-earned dollar looks like?! What makes you better than the rest of ’em?

I know I’m making enemies here but I must pose the question. If not I, who will?

I don’t blame the docs. They were merely children when they signed their lives away for a chance at the American Dream. I blame our upbringing for creating the expectation that a doctor’s life is a rich and easy one. I blame the institutions that are set in place that allow universities to charge this much money to get educated. I also blame lending companies who are handing out loans this large. Child robbery, that’s what I call it.

I implore to all the existing doctors that make it seem like being a doctor is easy. How will we ever change the trajectory if we keep implying to young ‘uns that pursuing this career path will mean they won’t have to work hard for the rest of their life. How will they realize and make an informed decision when the time comes?

I know the real truth.

That behind the facade of wealth is an increasingly long list of medical professionals patiently waiting 25 years for loan forgiveness to hit. Behind every confident thrust of the credit card is an avoidance technique that makes life a bit easier to live. Behind all our heroics and saving lives lies a coward afraid to face our social responsibility to pay back debt that we chose to take out. And behind every accomplishment lies a lifestyle creep that is avalanching too fast out of our reach, propelling doctors further forward towards an unsustainable way of living.

The real reason doctors “can’t” pay back student debt is because they won’t.

They choose not to work hard anymore. It isn’t burn-out, although that stuff is real too. It’s the social expectation that a doctor’s life is breezy. The mindset to pay back debt just isn’t there. Many cannot accept that graduation is not the end-game. They think they already won.

There will be excuses. I don’t buy any of it.

There will come a day when I will finish my loan repayment journey, and people will think it’s a miracle. They’ll think I was one of the lucky ones, rather than a penny-pinching maniac. Perhaps the stars aligned and the pandemic gave me this “unique” ability to pay back loans faster because I was not being charged interest for six months. My parents must have helped me out. An investment strategy probably worked out for me but not them. I can’t wait to see the excuses they make. But none of that will be true.

My current car is a high-school ride that I’ve had for 13 years. The passenger’s rear-view mirror doesn’t match, because when someone broke it (probably to re-sell it), I didn’t want to pay an extra $60 to get one that was white when the stock color was black. Mike even helped me put it on the car myself because I didn’t want to pay a service fee at the auto shop. My neighbor came out of his garage this past week and looked at me funny when he saw me physically hand-washing my car. He said, “That’s … nice…” and walked away slowly.

I sometimes have to wipe graffiti off my windows, because I chose to live in a lower income neighborhood so that I could buy a business storefront AND a dwelling at a very low price. Last Friday night, it was getting ratchet at the club next door since they moved the party outdoors due to COVID restrictions. I’ve had to run away from my own home before when the riots first started and they fired fireworks at the cops.

I spent a third of last year working midnight shifts. I still wear my USC scrubs that I was forced to buy upon entering dental school in 2012. I run with the Nike’s that my husband bought me as a gift when I was attending dental school so that I could “be cool”. They used to be orange but now they’re mostly black. I sell my de-cluttered stuff on Poshmark. I research heavily in order to travel the world for FREE. I come home from work to work. I still actively budget every week. I aim to spend only $200 a month in groceries for the two of us and $150 a month in dining out. I created a lifestyle where my job is three blocks away, to reduce the gas I have to buy. TO REDUCE THE GAS I HAVE TO BUY. I spent my last birthday repainting our bathroom. We spent Mike’s birthday picking up birthday freebies. Heck, even our cat was free.

Do you know the real reason THIS doctor can pay off student debt?

Hard work and a willingness to.

It’s not rocket science.

How Californians Can Make Money Saving Electricity with OhmConnect

This post may contain affiliate links. Please see my disclosure to learn more. 

What if I told you that Californians can get paid to save electricity? I mean, we should all already be working hard to reduce our energy bills, but sometimes, during mid-summer night’s heat wave for example, the last thing you want to do is turn off the electricity. I get it.

Not to fret. This is not the blog of deprivation. This is the blog of wealth, in all aspects of the word. In order to get paid, all you have to do is participate in saving electricity one hour at a time during designated “OhmEvents” with OhmConnect. OhmEvents pre-determined time periods when energy usage is typically the highest.

How to participate? Easy. OhmConnect will send you a text (usually a day before) about an upcoming hour-long OhmEvent which you can choose to participate in. You can power down as many electrical appliances as you want, unplug your chargers, turn off your A/C, procrastinate a little longer on the laundry and the dishwasher (be real, you were already doing it), and take the kids or roomies out to the park to expel energy into the ecosystem in a completely different way. If you have a SmartPlug, you can turn off your electronics via an app even when you are away from home. You can also hook up your Nest or smart thermometer to Ohm and it can turn off your device during the hour, to help you save further. Depending on how much kWh you decrease your usage by, you will be awarded points which translates to cash.

How does OhmConnect have the ability to pay people money?

The government pays a stipend or perk to not have carbon-intensive power plants turned on. The way in which this is prevented is by not reaching a certain energy usage threshhold. Meaning, the more people participating in OhmEvents, the less energy is used, and the more likely that the government will pay the stipend, which then partially gets divvied up and dispersed to Ohm participants.

OhmConnect Promotes Slow Living

Aside from the benefit of having a positive environmental and financial impact, there is also the incentive to practice slow living. Participating in an OhmEvent means turning off the TV for an hour and perhaps picking up a book. If it’s hot indoors, it may mean taking the kids to the park or beach outdoors where you longingly feel for an oceanic  breeze. Maybe it’s your cue to commit to that weekly run you wrote in your list of resolutions months ago. Does the Ohm hour land in the evening time? Plan a candle-lit dinner to rekindle your relationship with a loved one. Or teach the kids how to make forts using blankets and read using flashlights.

The best thing about OhmConnect is that it improves your life three-fold – you are leveling up your bank account, your environmental impact, but also (most importantly), your relationships.

How to Earn Even More Money

Spread the word.

When you sign up using my referral link, you will automatically get $10 added to your account for your good intentions. Furthermore, you can help make a bigger difference by getting your friends and family to sign up using your own referral link. For the month of Plastic Free July, all referred friends that sign up for Ohm will result in $40 cash for you, $10 cash for them. They will not receive the $10 if they did not sign up using a referral link, which is why I provide mine here.

We have only been doing this one week, but to be honest with you, it’s very fun. I sent my referral link to my dad who already procrastinates dishes and laundry until after 9 p.m. in order to reduce the electricity bill, and he was stoked to save money and get paid doing it, too!

I think it’s kind of fun finding activities that revolve around zero-electricity usage. But hey, if you really want to, you can still use your laptop or iPhone unplugged.

After one week, I have earned $81 using OhmConnect! I love it, and I think many people would too.

Let me know how it goes 🙂

How I Made $390.38 In June 2020 Blogging From Home

This post may contain affiliate links. Please see my disclosure to learn more. 

I started blogging right after graduating from dental school without ever thinking I’d earn money from it. At the time, I turned to this blog as a place to record my daily life. Ever since teenhood, I have kept some sort of journal or diary, which has evolved over time from paper to Xanga to Melodramatic, and now onto WordPress. For almost twenty years, I’ve processed information through writing, but never once did I think I would earn money from it.

It’s been three years since owning this site but I am happy to say that it is now getting a little bit of traction and has started to earn me a little income. If I wasn’t working as a dentist during the day, I could see how this could become a steady day job. Still, even with my day job, it had turned into a fun side-hustle for me. I decided to log my earnings for my own personal tracking but also to share publicly how much one can make blogging from home.

Now that remote work seems to be in the near future for many, I do think that blogging is a good option for people who wish to work from home. Likewise, it is an opportunity to be your own boss and have your own space. Since you are writing your own content, you have the flexibility to work whenever you want to, which I know can be a good or bad thing. Of course, you can always practice habits that will separate work from home. Lastly, this is a great hobby or job for creative people. You have autonomy over how to execute your ideas and thoughts, making this a very freeing experience for those who don’t quite fall neatly into a traditional work environment or big company hierarchy.

But first, how did I start to monetize the blog?

If you are new to blogging, you may not know that you can earn income from owning such a space. I certainly didn’t. But then I took this course called Making Sense of Affiliate Marketing, and it changed my life.

What is Affiliate Marketing?

Affiliate Marketing is working with brands that you love in order to spread the word about their products and in return receiving commissions for any referred patrons. Sometimes these are physical products from almost any company you can think of. Other times, they are intellectual products such as courses or services that help improve other people’s lives. The best part is that you don’t have to “sell out” to do affiliate marketing. You don’t have to scheme or cheat people. For me, it’s really just promoting companies that I believe in. For example, the companies I choose to partner with are those that promote sustainably sourced products using fair trade and ethical factory conditions. I like to promote small name businesses trying to create social or environmental impact. I try to keep it to an exclusive few even though I’ve been approved for over 2,000 different companies (so far).

There are a few nuances to affiliate marketing and I didn’t know much about it prior to the course. But the course helped me to learn A LOT and it’s just another case of “you don’t know what you don’t know.” You could learn it all yourself, but it’s hard to without a guide to get you through the basics.

I highly recommend this course if you wish to monetize your blog but don’t know where to start.

Extra Income Report

Now, onto the numbers. In June 2020, I made $390.38 in extra income.

Of that, this is the breakdown:

  • $380 is from sponsored posts. I count the monetary value of products that I receive and review as “income”. I do not accept products for review without first learning about the company and product. As a minimalist, I also only look for products that we currently need. I am honest in all my product reviews and list both pros and cons because I want to be as helpful to the consumer and the company, both.
  • $10.38 is from affiliate links. This means that people clicked on a link I wrote about and I earned commission for referring a consumer.

I know it seems like not much, but as something I do for fun, I think it’s a nice little additional income. Over time, I hope to continue posting more income reports. Maybe it will help others looking for a side-hustle get a feel for whether blogging could become an alternative for them.

As always, my goal with this blog is to promote intentional living. Writing is a way to create a lifestyle that is in tune with what you want to do. Sure, it may not be the perfect job, but if working from home and having flexibility help allow you to live your dream life (one that includes traveling the world or becoming a stay-at-home parent), then I hope this space brings you that value.

If you are interested in starting a blog, I use WordPress. Feel free to sign up using my affiliate link.

If you already have a blog, I want to refer you to the course that helped me monetize mine. It’s a really great starting point. It’s called Making Sense of Affiliate Marketing.

How I Made $331.14 in May 2020 Blogging from Home

This post may contain affiliate links. Please see my disclosure to learn more. 

I started blogging right after graduating from dental school without ever thinking I’d earn money from it. At the time, I turned to this blog as a place to record my daily life. Ever since teenhood, I have kept some sort of journal or diary, which has evolved over time from paper to Xanga to Melodramatic, and now onto WordPress. For almost twenty years, I’ve processed information through writing, but never once did I think I would earn money from it.

It’s been three years since owning this site but I am happy to say that it is now getting a little bit of traction and has started to earn me a little income. If I wasn’t working as a dentist during the day, I could see how this could become a steady day job. Still, even with my day job, it had turned into a fun side-hustle for me. I decided to log my earnings for my own personal tracking but also to share publicly how much one can make blogging from home.

Now that remote work seems to be in the near future for many, I do think that blogging is a good option for people who wish to work from home. Likewise, it is an opportunity to be your own boss and have your own space. Since you are writing your own content, you have the flexibility to work whenever you want to, which I know can be a good or bad thing. Of course, you can always practice habits that will separate work from home. Lastly, this is a great hobby or job for creative people. You have autonomy over how to execute your ideas and thoughts, making this a very freeing experience for those who don’t quite fall neatly into a traditional work environment or big company hierarchy.

But first, how did I start to monetize the blog?

If you are new to blogging, you may not know that you can earn income from owning such a space. I certainly didn’t. But then I took this course called Making Sense of Affiliate Marketing, and it changed my life.

What is Affiliate Marketing?

Affiliate Marketing is working with brands that you love in order to spread the word about their products and in return receiving commissions for any referred patrons. Sometimes these are physical products from almost any company you can think of. Other times, they are intellectual products such as courses or services that help improve other people’s lives. The best part is that you don’t have to “sell out” to do affiliate marketing. You don’t have to scheme or cheat people. For me, it’s really just promoting companies that I believe in. For example, the companies I choose to partner with are those that promote sustainably sourced products using fair trade and ethical factory conditions. I like to promote small name businesses trying to create social or environmental impact. I try to keep it to an exclusive few even though I’ve been approved for over 2,000 different companies (so far).

There are a few nuances to affiliate marketing and I didn’t know much about it prior to the course. But the course helped me to learn A LOT and it’s just another case of “you don’t know what you don’t know.” You could learn it all yourself, but it’s hard to without a guide to get you through the basics.

I highly recommend this course if you wish to monetize your blog but don’t know where to start.

Extra Income Report

Now, onto the numbers. In June 2020, I made $331.14 in extra income.

Of that, this is the breakdown:

  • $301 is from sponsored posts. I count the monetary value of products that I receive and review as “income”. I do not accept products for review without first learning about the company and product. As a minimalist, I also only look for products that we currently need. I am honest in all my product reviews and list both pros and cons because I want to be as helpful to the consumer and the company, both.
  • $31.14 is from affiliate links. This means that people clicked on a link I wrote about and I earned commission for referring a consumer.

I know it seems like not much, but as something I do for fun, I think it’s a nice little additional income. Over time, I hope to continue posting more income reports. Maybe it will help others looking for a side-hustle get a feel for whether blogging could become an alternative for them.

As always, my goal with this blog is to promote intentional living. Writing is a way to create a lifestyle that is in tune with what you want to do. Sure, it may not be the perfect job, but if working from home and having flexibility help allow you to live your dream life (one that includes traveling the world or becoming a stay-at-home parent), then I hope this space brings you that value.

If you are interested in starting a blog, I use WordPress. Feel free to sign up using my affiliate link.

If you already have a blog, I want to refer you to the course that helped me monetize mine. It’s a really great starting point. It’s called Making Sense of Affiliate Marketing.

Finance: Financial Independence is for times of COVID

This post may contain affiliate links. Please see my disclosure to learn more. 

There are circulating rumors that this pandemic has deemed the FI movement dead. Articles in mainstream media have been claiming that people who are in the midst of attaining FI are now struggling to live. As a FI defendant and warrior, I would like to say that the opposite is true. In fact, this pandemic has shown our little family that the path to financial independence is strictly for times like these. Not saying that I ever expected any of it to happen. I mean, there’s no way I could have predicted this and I certainly did not wish it upon the world. But the financial independence journey is the reason why this pandemic was so good to us. Here’s why.

Why FI is for times of COVID

FI is built on a number of different life-hacks that enable one of my life’s core values: freedom. The word independence itself is crucial to the term FI. Many of the principles in the financial independence community center around independence from other things such as your job, the market, societal expectations, debt, and of course, money. All of this was affected by the pandemic.

Those who are following the FI principles are more likely to have embraced job independency through side-hustles, entrepreneurship, self-employment, or simply creating multiple income streams. Many FI families had an emergency fund to carry them through times such as these past few months. If you’ve taken my course, you also know that mastering a budget is a super-power. If you’ve truly mastered your budget, you would have control of your spending, created a savings, and also planned for the spending a few months ahead. Most FIers lack debt. I, of course, have a huge student debt, one that I’ve also worked diligently to free myself from (see the progress here!). But even this single choice to aggressively pay down my student debt has helped me significantly during COVID-19! I mean, who would have ever predicted that you could get six months of 0% interest rate on student loans? Nobody, ever.

Meanwhile, the market is crashing and FIers with money reserves in their mastered budget can invest at low rates. They can buy rental properties due to their stellar credit history. They can survive off of an emergency fund in case of a layoff. Better yet, they can use their additional income streams or refocus their money-making to their side-hustle business. I’m not saying this is the time to brag, but perhaps it’s the time to pivot.

How COVID helped our financial journey.

Perhaps the reason why people think that the pandemic will negatively affect FIers is because not many of us have been sharing how it has helped. I can’t speak for all FI families, but for us, here is what happened.

  1. Mike had wanted to pursue coding for a while. We decided to sign him up for a course in January and paid the tuition upfront and in full, which we were able to do thanks to our great budgeting and savings (Our entire budgeting method is compiled in this course that I wrote, if you’d like to follow in our steps). In February, about a month before the March 15th California lock-down, Mike offered to be laid off from a company that was down-sizing by forty percent, in exchange for a severance pay that would help with the transition into coding. After the severance pay ended in April, he qualified for EDD due to the lay off and got an additional $600 a week that the EDD was paying out to those who just found themselves unemployed, thus easing the transition even more. In fact, we had expected to receive $1800/mo from EDD prior to COVID 19. Due to the additional $600, Mike gets “paid” $4200 per month to study a course. What does this have to do with FI? Well, we wouldn’t have been able to pay for the course upfront without a savings. We wouldn’t have felt comfortable with Mike switching careers without a stable financial background. And we wouldn’t have been so non-chalant about the lay offs without a back-up plan (which is our other income streams).
  2. I have multiple income streams. I own a corporation as a dentist and pay myself. As a dentist, I work at two different offices which also increases my chances of always having work. I also owned a bakery which I closed a week before the COVID shutdown (for real! What timing…) but which I considered turning back to if both dental offices remained closed (they didn’t). I also had a dog-sitting business on ROVER, as well as this blog wherein I make commissions through affiliate linking. I was out of dental work for a week and a half wherein I spent most of my time writing about it. I then went back to work (three days a week, half the amount of time I usually worked) and poured more time into this space. It has grown tremendously the last two months! All of this to say, I had options in terms of career.
  3. All public student loans got reverted to 0% interest until September 31. This means that any student trying to pay down debt aggressively has a chance to make the money snowball go faster! Of course, I paid only the minimum monthly requirement for these COVID months just to keep cash liquid in case of emergencies, but now we’ve found ourselves sitting on a big chunk of change that we could use to buy a rental property. This gives us choice. I could drastically reduce the loan repayment journey to 2.5 more years, or I could invest in more long-term passive income.
  4. We house hack which means we have someone living with us which helps us pay mortgage. I would count this as an additional income stream for us.
  5. Speaking of mortgage, we refinanced our home. Due to our great credit, there was no hitch when we decided to refinance. The refinance gave us an additional $500 a month to put towards something else!
  6. We paid off Mike’s car in May, therefore paving the way for quickening the loan repayment journey now that we can funnel those would-be-car payments into student loans.
  7. We used COVID related benefits for health professionals and medical doctors such as retail discounts. Some of these benefits continue until the end of 2020.
  8. We got free food when fast food places. I think we made use of free tacos on Tuesdays from Taco Bell four times. Mike got a free meal from Cafe Rio. Mike’s dad and grandpa live in a 55+ community and they received weekly boxes of nearly-expiring groceries. They picked what they wanted and Mike and his sister (and me) benefited from the rest, which then reduced our grocery bill.
  9. COVID inadvertently reduced our monthly spending. Our cleaner couldn’t come for her bi-weekly cleaning which saved us $200 a month. Why would she when all three of us were home to clean, anyway? Mike had no work so there was no need to commute. He took online courses at home, which saved us $100 a month in gas. The aforementioned free food from Mike’s dad and grandpa saved us $100 in groceries per month. Since the yoga studios and gyms were closed, Mike and I had to replace our new-found love for yoga with running outdoors, thus saving us $250 a month.
  10. COVID prevented us from traveling. All our trips got cancelled, which made us quite sad but at the same time, it saved us close to $10,000. (Between March and July, we had trips planned to Japan, Maldives, Hawaii, two trips to Norcal, one to San Diego, a bachelor party for Mike in Colorado, a bachelorette in SD…). We had two weddings that were also sadly cancelled.

Let’s add this all up, shall we?

During COVID, the following things changed in our monthly budget:

$4500 from EDD for Mike’s work transition
$500 per month savings from the home refinance
$585 per month savings from paying off the car
$200 savings from not having a cleaner
$250 from not having a gym membership
$100 gas savings from not having a commute
$100 from the food box donations
$1400 a month of interest that the government isn’t taking from my student loans

That’s $7,635 savings per month due to COVID. Multiplied for the two months we’ve been in this lockdown.

Plus the $10k that we saved from not traveling.

I would assume we have saved near $25,000. Plus the liquid cash I kept from only making the minimum payments for student loans ($16,500).

Now you know why we are looking at a second home.

The FIers are not going to suffer from COVID. If anything, they are likely the least to suffer. I know of FIers who have bought one rental property a year for 15 years straight. Most of them make passive income from real estate or intellectual assets. Many are entrepreneurs, self-published, self-employed, self-sustaining. Most don’t have debt and they ALL have funds to rely on. On top of that, they have a well-balanced investment strategy that is mostly hands-off which protects them from panic-selling during times of market volatility. We are frugal, make use of opportunities, are in the know of life-hacks and benefit from financial situations such as these. That’s what FI is about. And everyone can become FI. Even though the media and the general public would like you to think otherwise. Just like they tried to tell me the loans would be unwise to pay off.

Is FI for you?

If you’ve recently lost your job due to the pandemic, perhaps it’s time to create a space for yourself. There are many pros to being self-employed. Even something semi-self-employed such as creating contract work under your name is a great option. Additionally, now may be the time to chase a dream of yours by picking up a side-hustle. Do something you love, and make money doing it. I did that with this blog, and if that interests you, perhaps you’d like to learn more about how to do that here. If you want to make money dog-sitting, apply to Rover today.

If you felt the crushing loss of a job and didn’t have an emergency fund, then the last few months may have been difficult. The EDD stipend of $600 a week to those who are unemployed has helped many, certainly, but really, having an emergency can also alleviate that stress. Start by mastering your budget. It’s the first step to all financial independence journeys.

If you have a lot of debt, it’s time to start paying it off. Student loan questions in particular? Now is the time to talk to a professional. Our recommendation is Travis Hornsby of Student Loan Planner. Schedule an appointment through my affiliate link, here.

It’s never too late to start. Trust me. I started from the bottom. Negative $575,000 bottom.