Bitchy Texts and the Start of a Side Hustle

There is a point in your twenties where your social calendar starts to revolve around weddings – and its great.  I love going to weddings! I love spending time with friends and family celebrating a couple that we all love.  The only downside to this joyous occasion is the expense for the bride and groom and their guests. The wedding reality TV craze does not help the situation.  I personally love a good episode of Say Yes to the Dress or David Tutera’s My Fair Wedding but these shows increase the expectations around weddings and all of the events leading up to the big day.  Between the bridal shower, the bachelor and bachelorette parties, and the wedding – it gets expensive.  Forget it if you are in the actual wedding party.

This leads me to my latest dilemma, one of my best friends from college is getting married in May.  Her bridal party is throwing her a bachelorette party in my state. I am not a bridesmaid but I was invited to the party and will absolutely attend.  I just want to stay in my own house to cut costs. I offered the party planners the use of my house and car and they took me up on the car.

The bridal party ultimately booked a fancy Airbnb apartment near downtown with modern furniture, hot tub, and great views.  It’s a fair price for a large group of girls and looks like an amazing apartment.  I just can’t meet our goal of eliminating 97k of debt this year if I don’t stick to budget.  At the same time, I feel guilty skipping out on the apartment since I was very close to a few of the girls in college.

I had hoped my friends would be supportive of my decision, especially since I communicated it to them prior to booking, but not everyone has read Mr. Money Mustache and “gets it.”  Cue the bitchy texts:


bachelorette party text

bachelorette party drama

bachelorette party drama

I love my friends and I understand WHY they are reacting this way – it just sucks.  Achieving this goal is super important to me and I’m not going to let less-than-supportive friends stop me.

Also, if you get the irony of that last text you’ll like the following articles on two of my favorite blogs.

Your Debt is an Emergency

Teaching a Debt Perspective to Twelve Year Olds


Side Hustle Update:

Moving on, I decided to put our house up for rent on Airbnb and VRBO.  Mr Debt Albatross and I will be renting out our house for a few key events at the university near our house.  We priced the rental on the high end to make it worth the inconvenience of having to find another place to stay during that time.  I’m a bit creeped out by having other people live in my house and sleep in my bed – but there is a price that would make the heebie jeebies worth it for me.

We already got one inquiry! It’s a woman that wants to rent the house for a full month this summer.  I gave her a quote and will wait to see the response. Truthfully, a one month rental goes against our original game plan. We were planning to keep the rental under 14 days so we wouldn’t have to pay taxes on the rental income and so we could face as little disruption to our normal lives as possible.  If we go through with this rental, we’d have to find some other place to live for that month.  It’s doable if we spend some of that time visiting our families or need to go on a work trip.

In addition to the rental income, Mr Debt Albatross has launched his own weightlifting club which we hope will bring in some extra cash.  He already has one paying client!  We both work long hours and really value our free time so we used the “what price would make it worth it” method to price this business too.

We’ll see how these two side hustles pan out!


Week 1 Recap – How’d We Do?

The Good –

  • I paid $100 towards my Nordstrom credit card balance (Remaining Balance: $438)
  • I brought my coffee and lunch to work each day instead of eating out
  • We took the pup to doggy day care only one day last week
  • Gas is still under $2 a gallon


The Bad –

  • I had a $68 interest charge on my credit card
  • I registered the new car I purchased last year for a whopping $680
  • We spent a bit too much on dinner and drinks with friends ($65 for the weekend)


Overall, it was a good start to Debt Albatross. If you take out the car registration, it wasn’t such a bad week! We can only improve upon our embarrassing spending last year.


Our 2014 Spending:

*A few grand in the Travel, Food & Dining, and Auto & Transport categories was spent on business travel.  I didn’t have a corporate card until later in the year.

*The high spending on home included our down payment.

Category $$
Home $49,361
Education $15,532
Food & Dining $18,021
Travel $9,539
Shopping $8,665
Auto & Transport $7,265
Pets $5,373
Bills & Utilities $5,038
Health & Fitness $1,241
Business Services $1,257
Other $3,719
TOTAL $125,010
Merchants $$
King Soopers 6999
Vet 1848
Doggy Day Care 1561
Chipotle 750
Starbucks 834


Mr Debt Albatross and I plan to make significant cuts in the Food & Dining, Shopping, Pets, Travel, and Other categories. We set a $110 weekly grocery budget which should land us at $5280 for the year. We will limit eating out to weekends only and will suggest other plans with friends to try to avoid eating out whenever possible. We will stop taking the pup to Doggy Day Care which should in turn decrease the vet costs (he has been misbehaving lately at camp so we think it might be good for him to take a break). We will also cut out unnecessary shopping and travel expenses.


Dallas the pup

How can you say no to this little face?


I know 2015 will be a different year. I feel dedicated and motivated to eliminate our debt. If we can stick through this for one year, we will have greater flexibility in our future.



The Debt Albatross

I tallied up the numbers today. Mr Debt Albatross and I are 97k in debt, excluding our mortgage. How the F#%!! did we get here?!

There is one answer to that question – lifestyle creep.  Over the past three years, we transitioned from struggling recent graduates to successful young professionals.  We quadrupled our income through strategic career changes and  promotions.  On paper, we seem like we’re doing well for 25 and 28 years old.  Our bank accounts say otherwise.  In the past year alone, we got a house, a puppy, and a new car.  Our consumption has rapidly outpaced our income and we’ve made minimal progress on our combined $55k student loan debt.

It’s time to change that. The purpose of Debt Albatross is to track our progress on paying down that nearly 100 grand of debt – in 12 months! It seems crazy but so is our current spending.

Here’s the plan:

1. Attack the debt with the highest interest rates first

For us, that would be our student loans. The majority of the loans are at 6.8%.

2. Cut our spending drastically

The $800 we spent at both Chipotle and Starbucks last year is ridiculous. We have a problem.

3. Increase our income

We’re considering rental income or some other side hustle.

What’s our end game in all of this? Peace of mind.  Debt is trapping.  As much as I love my job, I know that I need to go to work every day to support my current lifestyle. I want to go to work because I want to – not because I have to.

Also, after paying down this 97k, we’ll hopefully be free to experiment in this “lifestyle design” that Tim Ferriss is promoting.

Here’s to Day 1!