8
1
0
0With Instagram and other social media, we share the picture perfect moments, but never the process it took us to get there. So here’s a bit of what I don’t share on Instagram, my everyday struggle to get financially free and travel more. By sharing my goals I hope to give everyone a sense of where I hope to go and the courage to share your own goals.
Financial Goals
I’ve made so much progress towards my financial goal since moving abroad, although sometimes it doesn’t feel like it. I still look at the big number and get so overwhelmed I could cry. But then I look at how far I’ve come and am proud and renewed to keep going. While I’m not lounging on a beach somewhere with passive income rolling in while I read for pleasure YET, I have paid off one and a half of my mortgages, eliminated all credit card debt and I’ve started chipping away at my student loan debt. So what’s left?
- By January 1, 2017 I want to completely pay off the mortgage on my second condo. Currently I have about $47,000 remaining. This is an ambitious goal, but not impossible.
- As soon as I pay all of that I want to turn my attention to my student loans. By January 2018 I want to pay off all of my student loan debt. I have about $64,000 left to pay.
These goals may seem gigantic, but I’ve come a long way. I started with close to $275,000 in debt and didn’t even scratch the surface until I started working and living abroad 6 years ago. And while I’ve cut out a lot of spending, I still indulge quite a bit by allowing myself to travel often.
Travel Goals
- I want to spend a significant amount of time traveling abroad, particularly in Latin America.
This probably seems strange since I’m an expat, but living abroad and traveling freely abroad for an extended period of time are two different things. I’ve worked non-stop since the age of 14. During college I studied abroad, but even that was work in a way. So I’d like to have a period of time where I’m free to pick up and go where I like, doing whatever I like. I say Latin America because that is the part of the world I love the most (so far). I’d like to be free to study Spanish the way it should be learned, in just interacting with people everyday (and maybe getting hooked to a telenovela). I’d also like to volunteer during this time and give back to those truly in need. It’s so important for my personal growth to be able to connect with my culture and get to a level of Spanish where I’m completely comfortable, and I believe that will come with extended time in a Spanish speaking country. As a Latina, I think we can be judgmental towards each other, with the level of Spanish proficiency or where you were born often being the main criteria for judgment. It’s been an area of insecurity for me, an insecurity that I’d like to leave behind once and for all and just be comfortable and content with where I am. To be clear, I do speak a lot of Spanish, but I think anyone who knows me would say I’m hard to please, even to please myself.
My grandmother was born in Puerto Rico and helped raise me. Growing up I’ve always been extremely close to her and feel even closer to her through learning more Spanish and traveling throughout Latin America.
- I want to organize and lead trips for those traveling abroad for the very first time.
I’ve gotten so much enjoyment from introducing parts of the world to my family. There is nothing like witnessing others fall in love with travel and see something new. I’d like to not only inspire people to do it, but to be an integral part of the process. I’d like to be the person to guide them through the experience, making it a little less frightening.
With my cousin, a first time traveler, in Indonesia. She took her first trip abroad with me in October and has since gone on a solo trip to Panama. I’m very proud of her.
Now here is my question for you. What are your goals? How can I help you to move towards them? I hope you are led to share. Only through speaking our goals aloud can we begin to move towards them and have people support us through the journey. Please comment below or feel free to e-mail me. I look forward to hearing from you.
Update February 19, 2017:
While I wasn’t sure how I was going to meet my financial goal when I wrote this post a year ago, I’m happy to say that as of the first week of February 2017, I’ve not only met but exceeded my goal. I’ve paid off every cent of debt I had. It didn’t happen the way I thought it would (I had to sell one of my condos which was badly vandalized), but I’m thrilled that for the first time in my adult life, I’m completely debt free.
I’m still working on the personal goal I set of perfecting my Spanish and spending more time in Latin America, but am more determined than ever. I lost my grandmother this month, which has been incredibly difficult, but I think wherever she is she is proud. My brother and I will be traveling through Latin America together this summer and I’m looking forward to showing him where in Puerto Rico my grandmother was from. I’m also in the beginning stages of purchasing a home in Puerto Rico for my family and myself, where we can stay close to our roots together.
I love your idea to lead a group – sign me up, I would love to come to Asia. One of my goals for the rest of the year is to pay the remaining balance of my student loans, $25k left to go.
Seriously, if you know others that would like to come I’d love to lead a group! And thanks for sharing your goal. Your post inspired me. Looking forward to reading your updates.
Hi Maya,
Thanks for sharing this, I’ve been wondering how I could pay off my loans and live life abroad. I remember reading about two financial/get out of debt books on your blog but can’t seem to find the post anymore. Can you recommend any self help book?
I think you are thinking of the Millionaire Teacher. You definitely don’t have to be a teacher to benefit from it though. Another book that I didn’t mentioned, but was really good is Pay It Down. I read it years ago and it helped me when I was just starting off. Hope that helps! Let me know what you think.
You are literally my shero! I would love to have done what you did, but I plan to be a physician in the future!
Thank you!!!! I’m sure once you become a physician you will have plenty of opportunities to travel in that field. I was actually just looking at a volunteer position in Haiti yesterday and wished I had some skills in that field so I could help out. Good luck with everything!
Hi Maya,
Oh my gosh you are totally amazing and I second Lorie’s response, a total shero! You’re website has already helped me so much and I just came across it this morning.
I have a goal to teach overseas too! I’m starting the journey with Peace Corps service in the Kingdom of Tonga, but by the time I complete my service, I will have almost $125,000 in student loan debt. UGH!!!
So I am trying to be as proactive as I can and get things in order to start teaching overseas once I’m done. How did you figure out the tax situation? How much do you have to earn to pay U.S. taxes on your income? I’ve been in school or doing national service for all of my 20s so I haven’t put anything aside for retirement. Were you able to start putting money aside for that as soon as you started working overseas?
I have so many other questions, but I think those are my most pressing. Again thank you for this website and for sharing your story so transparently!
Hi Bashia! Thanks for reading. I’m happy to tell you more, but it’s a bit of a complicated and long answer. Is it okay to reach out to you via e-mail or can we skype?
Maya! Hello, my name is Felecia and I’m experiencing so many emotions reading your blog. Thank you. Mostly, I feel pride for you are living your life. I feel excited traveling vicariously through experience sharing, and a little sad that my dreams of seeing the world have been deferred. Don’t get me wrong, I have traveled and lived abroad some, Peace Corps/ Liberia, but after then came life… mainly student loan debt, ah yes that ugly truth and lots of it; and I’ve been suffocated by it. With that said, I so want to get back out there, but I’m not a spring chicken anymore, 56, and teaching has never held great appeal to me. Any suggestions as to what else I might be able to plug into. My background is filmmaking.
Thanks for reading, Felecia! I’m so glad you enjoyed my story. I think it’s never too late to go for it, though most countries have age restrictions on who they will grant visas to for working purposes. In Singapore it was just extended to 67, so you have plenty of time. Teaching definitely isn’t for everyone, but you can teach what you’re passionate about. My school has two full-time film teachers and they create such beautiful work with the kids. I would suggest you sign-up for an international film makers conference. I recently attended my first travel bloggers conference and it was such a great opportunity to network. I think it could open a lot of doors for you.