I'm a 27-year-old trying to launch a side hustle and pay back $25,000 in student loans - here's how I spend my money during a typical week
- Aaron, 27, makes about $60,000 a year as a marketer for a software company. He also spends about 10-15 hours a week on his side hustle blogging at Personal Finance for Beginners.
- He's working to make his side hustle his full-time job, but it's taking time - he's saving 20% of his income every month in an "opportunity fund" and also paying back $25,000 in student loans.
- For Business Insider's "Real Money" series, Aaron shares how spent and saved his money during a week in July.
- Want to share a week of your spending? Email email@example.com.
I've always been an entrepreneur.
When I was in elementary school, my best friend and I would knock on our neighbors' doors selling our homemade products: bookmarks (made from dried Elmer glue), magnets (laminated stickers with magnetic tape on the back), and books (short stories we wrote and stapled together).I remember we drew up plans for the office building that would one day be home to "A&T, Incorporated" (based on our initials). While those floor plans haven't come to fruition (yet), those years as a child entrepreneur have stuck with me.
Since then, some of my entrepreneurial pursuits have included creating (and eventually selling) a professional basketball blog as a teenager, consulting small businesses on marketing, and helping to lead a student organization that helps provide funding for student entrepreneurs.
Entrepreneurs are dreamers and creators. It takes vision, that's for sure, but ideas aren't enough on their own. Entrepreneurs find a way to bring their ideas to life… Often with limited resources.
If you consider yourself an entrepreneur, you can most likely relate. Perhaps you feel like you have:
- plenty of time but no money
- plenty of money but no time
- plenty of ideas but neither time nor money
Personally, I've decided to keep my expenses low and dedicate my time toward my work.
I think I've found my "idea" for now: building a brand that teaches young adults the basics about money - how to get a higher credit score, what to do when you get a raise, how to find the right auto insurance, etc. I also work a full-time job doing marketing for a software company and earn about $60,000 a year.Now my challenge is bringing my side hustle to life. Since I want to avoid business debt and keep my monthly business expenses, I get to practice what I preach: spending less than I earn, and being resourceful with what I have.