Renewed Accountability: Buying My Freedom

(above photo from our motorbike trip in Newfoundland by Josh)

I’ve recently started a new job and have a new home for the next ten months. Seems to me a good time to reevaluate what’s important to me, set priorities and really focus on the next big goal: buying my freedom.

Everybody wants to have enough money to be free. But for me, the why is most important. I feel like the how never happens without a strong why. So here’s the why: Ever since I was sixteen, I’ve wanted to do this crazy trip where I travel around the world, stopping in remote, wild places to live for a month or two at a time. Learning different languages, living and eating with the locals. National geographic stuff. A few years ago, I was really into hitchhiking, and I wanted to do the whole trip by hitchhiking. Then I discovered motorcycles and the corresponding freedom. Now I dream of doing the whole trip on one motorbike, a la Jupiter’s Travels. Of course I’ll have to hop a cargo ship or two to get from place to place, but otherwise, it’s gotta be by bike. That’s the dream.

(photo by Mike)

But dreams ain’t cheap, and I need to somehow get the money to do it.

Which is why I’ve purposely taken a job which covers all my expenses (travel, room and board, miscellaneous toiletries, etc) – so it is theoretically possible to save 100% of my earnings. That is, assuming I have immaculate willpower (which I do) and don’t spend anything on frivolities. Then, next year, I have a similar contract lined up with a slightly different organization, which will leave me an even better salary to bank. Which means that by the summer of 2010, I’ll have enough money to do the big trip. I originally gave myself until I was 25 to do it. I’ll actually be leaving when I turn 28, so not too far off the mark.

Of course, after that, I promise to settle down, get a real job, have 2.3 kids and all that grown up stuff. (that last line was for my parents really, should they come across this… love you mom)

(above photo by Josh)

In addition to the new job, the last few months have seen a few other tangible steps to financial freedom, including:

Eliminating credit card debt. This one is huge. For the longest time my credit card balance hovered between $1000 and $3000. Mind you, I had harassed my credit card company a few times to lower my interest rate (which they had), so I wasn’t paying as much interest on the balances. But now I won’t be paying any. I rearranged some finances and combined with my first paycheck, managed to pay it off completely. Zero balance.

Discovering a way for my new job to work for me. This is related to number one: Now that I don’t carry a balance on my credit card, I’ve switched to a no annual fee cash back rewards credit card that earns me 1% cash back on every dollar over three thousand dollars I spend per year (less than 1% on everything under three thousand). Considering I am able to expense between 30 and 50 thousand dollars this year through work (which I may do on my credit card), essentially I can make up to $500 cashback (assuming I make all my payments on time, which I tend to do). It isn’t a huge amount – but it’s not bad for doing something I would do anyway (it will at least pay for my aluminum side paniers for the bike). I’ve also applied for a Mastercard that earns 2% (!!) cashback on all purchases, that can be used towards the purchase of any vehicle (I’m planning on buying a new Kawasaki Dual Sport or BMW GS Touring bike…), but I haven’t heard back about the application yet.

Reawakening the Tim Ferriss within. I’ve reread The Four Hour Workweek, re-listened to the audiobook, and have been brainstorming new ideas for my muse (what Tim calls the relatively passive income generator). I’ve got some good ideas, and when I get set up here at my new job, I’ll start the testing stages. This will not be the first time I’ve attempted this online business thing. But I have learned, and am smarter now.

(photo by Mike)

Somewhat related are a few other side priorities for the year:

Healthy Lifestyle. This means eating healthy and especially, working out at least 3 times a week. I’ve definitely slipped on this one before. A lot. The recent 6 months in Japan I was really good about doing basic workout stuff most weeks, but this year is all about renewed strength of will power. I bought a discount weight set in Labrador city for $10 and I’ve been doing well for the last 2 weeks while traveling up here. I’ve also managed to procure a snowmobile for the winter here in Labrador (where it snows an average of 14 feet), which will inspire me to get out of my warm little house (actually, it’s quite big) in the cold winter months.

French Language. As part of my job, I’m required to learn French, and will be supervising at least three Francophones (who may or may not speak English), which I’m really excited about. I’ve got a workbook, language tapes on my ipod, and I’ve been watching a ton of Quebecois and French movies this past week (L’Auberge Espagnole, L’Audition and C.R.A.Z.Y. are amazing!). I give it a month.

And lastly, there’s a few things that I’ve decided won’t be a priority: despite what I wrote last month, I will not be continuing with the photo post each week. Some people had asked me to post more, but after some reflection, I really feel that I need to keep this website as an outlet for things that I really feel passionate about sharing. Therefore, the idea is scrapped, in favor of adding a photo or two to possibly unrelated posts (like I did here with photos from the bike trip with Josh). I do have some great stories that I’m working on, and another feature length magazine article that should be ready soon. Look out Rolling Stone…

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