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Launched the New Blog This Week

Well, I had the opportunity to launch a new blog this week along with several fellow personal finance bloggers and other contributors.  It is a collaborative effort where I hope to be able to publish daily content in the personal finance niche.  We have a wide range of individuals who have been submitting articles for publication.  We have all age ranges and many occupations represented.  We have professional writers and retirees.  It is quite a diverse group so I am sure that you will find something of interest no matter where you might be in life’s journey.

Be sure to stop by Penny Thots and give it a look.  Feel free to comment and subscribe as well.  I would love to hear what you think about the new site.  Also, any suggestions are greatly appreciated.

Goals for Penny Thots

  1. My first goal is to not lose money.  I am paying the contributors based upon views and will be relying on AdSense revenue until such time as I might be able to get a few private advertisers.  But I can only make any advertising “no follow” since I don’t want to risk any Page Rank on the new site.  I think I should be able to break even with the revenue and the costs, but I really won’t know for sure until I get some time under my belt.
  2. Second, I would like to get 2,000 total visits for each of the first two months.  That would exceed the traffic for my other two blogs during the earliest days and provided there is some growth in the third month, could surpass Cash Flow Mantra’s traffic.  It would seem logical that having multiple contributors with other blogs and daily content would make this feasible.  Again, time will tell.
  3. Finally, I would like to keep the contributors involved through at least the end of 2012.  I have no doubt that circumstances will change and some might have to stop writing.  However, now that we plan on publishing daily content, I want to be able to keep up that pace.  This may end up being the most difficult of the three goals.  Again, I don’t know since I have never taken on such a project before.

I can tell you that the amount of work that has been involved has been more than I anticipated.  It may be just a matter of getting all of the systems in place and that it will get easier as time goes by.  I still have many articles to review and edit and the logo to design.  I have it in my head but just haven’t had a block of time to get that done.

I did manage to get all the functional aspects of the site done in time and will improve it as I am able.  The next most important part is the content, and like I said, I still have several articles to review and soon the posts for May will have to be edited as well.  My goal needs to be getting 2 or 3 reviewed per day for the next several days.  Then I want to get them scheduled into Word Press.  This week I have just been doing that each morning since I am off.  But I do want to get a nice queue formed.

Carnivals and My Blogs

These are the latest carnivals in which I was involved.  Melissa took vacation this past week so there is nothing recent, but since I get behind on posting the links, it is giving me an opportunity to catch up:

Carnival of Money Pros – GPM
Carnival of Retirement #11 – GPM
Yakezie Carnival – Have Fun Edition – CFM
Finally, a Puppy Picture
As promised, here is a picture of a light colored puppy less than 48 hours old.  This one weighed 7 ounces when born.  It fits in the palm of my wife’s hand.  Remember that they are deaf and blind still at this age:

Cute Puppy

If you want, you can see all the puppies at the website we started for them.  I doubt that the site is that helpful, but it has taught my daughter how to navigate Word Press.  She has done most of the work on the site.  It seems like a useful skill to me.
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6 comments - What do you think?  Posted by Cash Flow Mantra - April 6, 2012 at 10:48 am

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Finding Extra Money for Paying Off Debt

Now that I am seeing some progress in paying off the Discover Card, I am really looking into ways that I can find some extra money to do so even faster.  I am liking the fact that if all goes well, I could have it paid off by the end of the year which was a goal of mine for 2012.  However, if I were to really get serious and apply some extra funds, I could get it done by the end of summer.  That would free up some extra cash flow for the monthly budget, although I would probably work to knock out another debt.

Currently, I am paying $460 per month to the Discover Card balance.  This came as a result of paying the minimum on my other debts.  By not adding to my total debts, the minimum payment has decreased on some of my other credit cards.  So last year, as the minimum declined on other cards, I would only pay that amount and increase the amount to the Discover Card since it has the highest interest rate.  I am getting more bang for my buck.  But now, I want to take it one step farther.

Sources of Extra Cash

I have identified some potential sources of extra cash that can be used to pay off Discover even more quickly in addition to the little technique that I have mentioned above.

Recycling Aluminum Cans

We have a lot of people in our family and tend to drink a fair amount of soda out of aluminum cans.  We recycle these cans.  Last summer, I took in a year’s worth of cans that had accumulated in our garage and received $59 for them.  I also took in some a few months ago and got $21.  I haven’t done anything special with the money.  It is still sitting in an envelope.  I should take that money and make an extra payment.  It will be like making 23% interest on a savings account.

Spare Change

My youngest daughter and I wrapped the spare change that I keep in the jar in the office.  We ended up with enough quarters, dimes, and nickels to fill out $64 worth of rolls.  The rest was put back for the next time the jar gets full.  I should take that money and use it for an extra payment as well.  Coupled with the recycling money, I would have another $144 to put toward the Discover debt without crimping my budget at all.

Google AdSense and Blogging

I have already been using some of the blogging profits to make extra payments.  If you read the last post, you noticed that I was able to make a $400 payment using blogging profits.  Well, February was a good month to me on the AdSense front so I will be getting a check at the end of March.  I should take that check and make another payment since I really don’t have any other great use for the money.  That would knock about $130 off the debt.  Imagine how much progress I will be making once I am getting monthly payments.  This blogging thing has been good for debt busting.

Selling Some Stuff

I think I might be so serious about getting this debt paid off that I might even consider going to the trouble of selling some stuff.  Of course the added benefit of cleaning out the house would be a bonus.  Putting together a garage sale is a lot of work, but I am sure that I could get several hundred additional dollars to put toward credit card debt.  I have also read many things about selling books on Amazon or selling on EBay which might be worth a try as well.

These are just the ways that would work for me in order to make some extra cash for debt repayment.  I am sure there are other ideas and would love to hear any suggestions you might have, things that others have done or you have done yourself.  Help me out with a little brainstorming session in the comments.  Thanks for reading.

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20 comments - What do you think?  Posted by Cash Flow Mantra - March 2, 2012 at 5:12 am

Categories: Earning, Credit/Debt   Tags: , , , , , , , , , , ,

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