My husband and I own a small business that we purchased in December of 2010. It has not been what we expected and neither of us are enjoying it as much as we thought we would. We are barely earning enough money to get by. Some months we do not earn enough. We are deeply in debt and with four children, this debt weighs on us heavily.
Last week we took a day off to reassess the business and our goals. We came up with “Our Five Year Plan”!
So what’s the plan? Over the next five years, we are going to pay off our nearly $35,000 credit card debt and save $100,000 to start a new business. How are we going to do this? With a lot of blood, sweat and tears I’m sure. It will happen baby step by baby step.
Why five years? We expect it to take that long to save $135,000 and in five years all four of our children will be in school full time which will allow me to focus most of my time on starting our new business.
I will share each baby step and our progress here on Our Five Year Plan, including ways that we are saving money or earning extra cash. I will also share details of our current business and what we’ve learned along the way.
What’s your five year plan?