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Reader Profile Friday: Rule Your Wallet Blog

The following is a new profile for the BFS Reader Profile series. Today we are getting to know Carvin at Rule Your Wallet Blog.  Thanks for participating!

Personal Background

Hi everyone at BFS! My name is Carvin, I’m 32 years old. I have been happily married for 3 years. We are a DINK family (double income no kids), but we have 4 cats and 2 dogs, all of which are rescues. We live in a 2500 sq. ft. home that we bought after the housing market collapsed, mainly for investment purposes. I graduated from a private university with an MBA in accounting and financial management.

Financial Background

We finished paying off our car loans two months ago, that was a fantastic feeling. The only debt we have is the mortgage and student loans. I am currently wrestling with whether or not to pay down those loans or ramp up investing. The only time I use credit cards is when I am purchasing something online or something that needs added protection. I pay off the credit cards as soon as the charges post in most cases. I do not want to give them a chance of snowballing and becoming a problem.

Goals

My current goal is to save 1/3 of my gross income and invest it. I would like to purchase some rental property in the college town that is close by. I am aiming for making my first purchase in 2015.

I also hope to purchase my next automobile with cash, but I will be driving my current automobile until it cost more to repair it than buying a new car. I hope to not buy anything that I do not already have the money saved for, but I am married and last I checked I get one vote and she gets two votes.

Why I Blog

I love finances, and getting down into the numbers. I enjoy providing people with information that can help them make more informed decisions about their own finances. Blogging has also allowed me to talk to like-minded individuals when it comes to saving money and avoiding debt. That is the secret to keeping your finances in order, surrounding yourself with like-minded individuals.

Crystal’s Comments:  Sounds like you are on the ball!  And yay for rescue pets – they’re awesome, right?  The debate between paying off cheap loans and investing is a long one…good luck with that decision.  We are trying to do both, but I seem to lean towards debt payoff for the stability it offers my crazy mind.  🙂

If you would like to participate in this series, please follow the guidelines found at BFS Reader Profile and submit your own story. Everyone is more than welcome and you can stay anonymous if you’d prefer.



FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 a year.  I went self-employed in July 2011 and make between $80,000-$100,000 through blogging, a rental home, and professional pet sitting.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you).  I even have all of my favorite tools on a resource page - I hope they help you too. This all gives me the time to be with my aging family members, the flexibility to stay close with my friends and family, and it should help if we finally get pregnant too!  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
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8 thoughts on “Reader Profile Friday: Rule Your Wallet Blog

  1. My girlfriend and I are going to pay off loans first because she has a lot. They are also variable rate (interest rate can only go up) or fixed at 6.8% which is a bit high for us.

  2. It sounds like you are being very smart with your money. I bet there are lots of financial majors who can talk the talk but are terrible with debt and saving. And I agree that the wife should get two votes. Can you convince my husband of that?

  3. @Lance I would definitely pay them off if they are large loans. One thing that I left out is that I only have 5 years left on my loans, so I have already paid a majority of the interest.

    @Kim Sorry Kim, you have to negotiate 2 votes before you get married. I think. Now I am starting to believe she did not even let me vote on how many votes she got. Hmmm. Oh well. 🙂

  4. Student loans suuuuuck I’m glad we were able to knock out $30k in 9 months. I’m leaning toward the same idea with purchasing a rental property since we live close to a college town as well. That will be a few years for us, too. Sounds like liking numbers has been working in your favor!

  5. @Jenna Hi back at you.

    @Jessica I know it is so tempting to purchase rental property when you are near a college town. There are several condos in my area selling for $20k, but I don’t think I would buy those if you know what I mean.

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