Skip to main content
No. of Recommendations: 13
I don't know about you or you guys, but I'm going for the long term here which is business expansion (opening up more stores to generate more passive income and scaling) up to a point where I won't even have to invest more than 2 hours a day

So, currently, you are investing more than 2 hours/day? That's 60 hours a month, which means that you need to net $900/month just to pay you what you get on your day job.

The thing is that I'm not trying to be 9-5 worker for the rest of my life. So why should I wait to fully pay off debt then start a business? Time wise, that would be stupid. If there's one thing I value it's my time. And if it's working on my end then why stop? Are you not seeing my Point of view yet?

Not really.

You first said you wanted advice on how to pay off your debt. We told you that you needed more income, and advised you to spend some time on getting a better job. You apparently see the ecommerce business (which was what you claim got you into your debt in the first place) as the way to get more income, and have spent a lot of time trying to justify (to yourself and us) that 'the business' is what you should be spending your time on, rather than trying increase your income by getting a better day job, or another side gig that pays you more than $200/month.

If 'the business' is really the way you think you are going to increase your income, then quit spending time here justifying yourself, and spend it on the business. If you really want advice on how to pay off your debt, then lay out what is owed, whose debt it is (yours, Mom's, joint), interest rates, minimum payment amounts, and your monthly income/outgo.

You seem to have already decided what you need to do, so I'm not sure what you are asking for. If you're looking for approval on what you have already decided to do, you probably aren't going to get it here.

Good luck to you.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.