My mother gave me a small loan of $1000

January 18th, 2021

My first post in my Journey to Financial Freedom

Throughout high school I rarely worked for the sake of earning money. If monetary gain was tied with a project, that would be a bonus I could reinvest into softwares, domains, hosting, film equipment or food.

However the value was always less in the money itself and more in how such a project could benefit me long term - increasing abilities, learning new skills, acquiring specific knowledge.

I always thought that earning now cuts earnings in the future as there is an opportunity cost and law of diminishing returns applies.

However, recently I've challenged that assumption through learning to invest in crypto and the stock market and becoming a young adult.

Today I got an email from Paypal:

I once again depleted my checkings account. Yet I asked myself why was this.

Why could I not afford to pay $6.66?

Over the past few months, I've been focusing on working on my University Applications, grinding essay after essay, while also investing $1000 of savings into stocks and cryptocurrencies.

Although my portfolio grew, at the same time my money shrunk.

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stocks - Wealthsimple $10

cryptocurrencies - Shakepay $30

My checkings account on Jan 12th, 2020:

So what happened...?

From a culmination of different subscriptions and thousands in university application costs, my monthly burn rate was negative, taking money away month after month. Additionally, I barely earned any money during this time.

In the past, my main source of income was working on leading projects at Sigil Digital, which yielded a few thousand dollars in revenue.

However, when I stopped to put my time elsewhere, project staggered and so did income. That's when I realized:

Trading time for money is the ultimate way to stay poor

Even at $500 or $1000 per project, there was no way I could reach financial freedom. The amount I earned was proportional to the amount of time and energy I put in.

Although given enough growth of the agency, I could reach a position of greater leverage, I did not have the bandwidth to do so at this time. (but also I chose not to as I wanted to do other things)

So what do I do...?

I am determined to make this is the last time I ever am this broke... or broke in general lol

As identified before, my monthly burn rate was nearing $100 from subscriptions alone which is completely unsustainable. There's definately a better way to continue thriving without all these subscriptions draining my accounts each month.

First, I compiled active subscriptions and expenses.

Then started being real with myself.

  1. I deleted ($7.80/month)

  2. Stoped paying for (~$20/month)

  3. Convinced my mom to pay for Adobe Creative Cloud ($30)

  4. Got a few months free for superhuman mail =⇒ before then want to build my own email client ($15)

  5. Scheduled to discontinue renewal of videoblocks ($250/year)

  6. Scheduled to Canceled Typeform Pro ($600/year)

  7. Canceled the almost all of the ~20 domains I own except the main ones ($100/year?)

Luckily I still live with my parents so no food or rent costs 😋

Here is roughly what I had left, based on what I thought was reasonable.

  • Google cloud storage 2.39/month

  • Domains <$100 a year 🤪

  • Potentially renewing apple developer and videoblocks if valuable.

Now my burn rate is a managable $10 a month, a drastic decrease from nearing $100. However, I am continuing to seek alternatives to reach that $0 mark.

To be more mindful of my financial decisions, I might justify/publicly post the budget of all of my projects. If you check, I've already started doing it :D

Aside from cutting my burn rate, I wanted additional capital to invest within my projects for the year and recooperate my finaces.

My mother gave me a small loan of a $1000

I have not asked my parents for money for a year now, and determined to pay her back by the end of the year with interest 🙂

One big reason I asked to borrow $1000 is that I don't want to shift my attention to making quick money.

What I mean is continuing to make money the same way I did before- trading time for money. Although valuable in itself, this approach was capped by my effort.

Instead, I want to build wealth ⇒ assets that earn as I sleep, not bounded by the time or energy spent.

From working on different web dev / video projects for startups, I found that although flexible, valuable, and paying they can be, I really don't enjoy working for others as I found it creatively limiting and obligations turn me off.

I know it's quite a drastic thing to say but as a personal promise to myself:

I do not ever want to work for the sake of money every again (I am 17.41 years old as of writing this)


Build wealth (assets that earn as I sleep) to remove money problems (the necessity to work for money)

This year I want to build at least 1k monthly in passive income.

So far I had made a lot of great first steps

  • I recently got my first paid partnership with, an EdTech startup building an on demand AP courses (Use code "Sigil1" for free access 😆)

  • YouTube Channel is nearing 1000 subscribers ⇒ I think it will hit by end of january, then I can begin monetization

  • Began investing in the stock market and cryptocurrencies

  • Build once, sell twice ⇒ Exploring in the next posts ;)

I'm not exactly how I'm going to reach $1k and my other 2021 goals but I will be documenting my journey on both and my YouTube channel. (Subscribe!)

Stay tuned. I think it's going to be sick.