What is your income source

[mom-from-missouri]

Reading some of these entries, makes me wonder--what is everyones source of income? Is in employment? SSI? Rich Uncle?
Sometimes I ready where someone mentions they have a debt of a fairly large amount, but then the mention that will be paid off next week or by March--if its from a paycheck, then how can you pay it and pay your daily living expenses too?
Our sources are: DH paycheck, rental from my house (but, it just covers the house payment on it, the insurance and taxes-its sort of a break even thing) and my very meager paycheck that will end in May when school ends-its only a couple hundred, but pays my gas to get the girls back and forth to school.

[ericmedem]

Re: What is your income source

50% comes from being a realtor
40% comes from flipping houses we are rehabbing 12 now
10% comes from rental income on 32 rental units

Eric Medemar

[Broken Arrow]

Re: What is your income source

I wonder about that sometimes too, but it could be 2-income households....

As for me, I work.

[tinapbeana]

Re: What is your income source

i work (for now)
DH works

my office is in a tenuous situation so the job (and office) might not be there long. i'm currently working on a gameplan... gah!

[LuxLiving]

Re: What is your income source

Mom from Missouri - we paid most all of our debt off the old fashioned way, a bit here and there with no huge chunks. Our income sources are Hubsters paycheck and I have my junqu'e booth and a small investment income from interest and dividends. I did have another income source when I started here on these forums that has since went away, but I knew it was coming and have tried to increase my income elsewhere to compensate.

Oh, and don't forget the couple of bucks of interest we're earning from loaning FrugalSon the money to buy his truck! Very small amount! haha

Selling some of my books online: http://cash4books.net/index.php?ref=26075

I do imagine when my FIL's house sells that we will put a chunk possibly down on our mortgage, but maybe not.

I'm assuming that you've read or heard about snowball debt reduction?

[living_in_oz]

Re: What is your income source

Well, you'll never see me post that I've paid off a huge of amount of debt in a short time!LOL We live on a very modest income. DH has his own small business...you know the type, some months he makes quite a bit and other months we don't even break even on expenses. For the majority of our marriage his check has been our only income(I was a SAHM for 15 years). In August I went back to work full time. But, I don't make a whole lot of money. And, since it's a school job, I will only work 9 months out of the year. We just try to spend very carefully. Honestly, most folks would think we're poor!LOL Little do they know that we have quite a bit of money socked away for retirement! Mostly because of good choices we made early on in our marriage

[pearlieq]

Re: What is your income source

We live on DH's salary and use my salary (which may not last long since I'm a consultant and could be let go at any time) for savings/debt reduction.

We also occasionally (though not much lately) will get some extra money from side work DH does.

[creditcardfree]

Re: What is your income source

My husband works for the Army. We just moved and sold our house and used some of the money to put as a down payment on the new house and about $4500 to pay off our car. So, yes occassionally things happen in life that bring larger amounts of cash and we use it to pay off debt or make an investment in our roth iras.

[rob62521]

Re: What is your income source

Both dh and I work. Dh is counting the months until retirement (21).

[lgslgs]

Re: What is your income source

We live off of the earnings from our nest egg (money saved before we retired early) and two small home businesses. We built the nest egg with me working, my husband at home working on the house and land, and saving like every dollar spent would mean being stuck in the work force for another day.

Now we save by being frugal and not spending down our nest egg. We live quite cheaply but we honestly enjoy it. The less we are dependant on store bought goods the better.

We don't buy anything unless we have first spent the time to think of three ways we could make the thing ourselves or improvise. Generally we find the cheap homemade alternatives to be a wiser choice than buying a single purpose item from a store.

We don't grow our bank accounts with deposits anymore, but still enjoy living the savings lifestyle and doing the right things so that our nest egg grows.

Lynda

[bjl584]

Re: What is your income source

All my money comes from my job at present. My various investments have been taking off as of late, but all that money is reinvested.

[MonkeyMama]

Re: What is your income source

Well, we have a lot of savings. I have a $4k or so debt I Could pay off now, but it makes more sense to keep it (earning more interest than paying). But if I Decide to pay it off tomorrow it will be from savings, not income.

Most of our income comes from my salary, but we get extra money from interest, credit card rebates ($500 this year at least), selling things, working side jobs, overtime bonus (which should be a huge chunk) and we do get some nice cash gifts from family. That helps too... If nothing else we get $1k every Christmas which I will probably use to settle our debt at year-end, if it is still there.

I already made $500 this month in side jobs and ebay.

I think what it really comes down to is a lot of people with debt have savings too. There has been many a discussion round and round what is more important - pay debt or save. I imagine this is why a lot of people suddenly can pay a large debt - the savings was a priority probably, and for whatever reason they felt ready to pay the debt. Bonuses and tax refunds factor a lot as well. Snowballing debt too...

[PrincessPerky]

Re: What is your income source

we are boring, only income is DHs job (aside form the occasional survey or odd job I do)

[Duchesse]

Re: What is your income source

Rental income, investments, and money from my $20 Challenge (found money, rebates, $.05 cent deposit returns, surveys).

[Bookie]

Re: What is your income source

Retired after 30-plus years in academia. Pension, dividend income, interest, and I've been working a couple of mornings weekly bookkeepng for a small non-profit. I could draw SS, but I have no need at this time.