How I Plan On Power Leveling My Finances

As I continue on my path towards financial independence, or FI as it’s affectionately known in the ever-growing network of fellow enthusiasts, I’ve recently taken the pledge to cut out most gaming from my life. The horror! Just to be clear I’m not advocating you do the same! It’s just something I’ve felt compelled to do.

The decision comes from the reality that as I push past 40, I feel an overwhelming need to make up for the lost time. I did a little math on the hours I’ve spent playing video games, starting from when I was a young boy and would play until the wee hours of the morning while staying at a friend’s house, to the current day, where I would binge, albeit less frequently on a game.

Conservatively speaking, I’ve spent 6,400 hours of my life with a controller in my hand. Based on my low-end, conservative math, I’ve spent 266 days of my life playing video games, taking out 8 hours a day for sleeping and that racks up to 400 days worth of awake time. 400 days is a more realistic figure because sleep is inevitable and shouldn’t count towards productive time lost. Some might think it’s a considerable amount of time, others will probably shrug it off, knowing that there are others that spend a significantly higher amount of time gaming.

For me, it comes down to time management and long-term benefit. I don’t believe I can achieve my goal of financial independence through personal entertainment. I’m not motivated to do anything after playing a video game, I’m simply motivated to complete it and see it through to the end.

The Positive Aspects Of Gaming On My Life

I loved creating and leveling up a character. Games in which I could take a character from virtual nothingness and build them into a world-leading powerhouse in whatever genre they were planted in, always gave me great, but short-term, satisfaction.

When I would purchase a video game I would finish it, often to 100% completion. If you’re familiar with modern gaming, you know what this means. I was a trophy hunter and unless it was next to impossible, I would make sure to get it, even if it took multiple attempts or starting over, as frustrating as they might’ve been.

I also enjoyed the social aspect of gaming as well. I enjoyed being challenged by others or working together to achieve a goal. There were some genuinely fun interactions that were had. My wife and I met a friend years ago in a gaming group that we were in together. They still communicate and send each other Christmas cards and gifts. In fact, as I’m writing this my friend just sent a text, apparently it’s really cold in Illinois today, like twenty below type cold.

The Next Chapter

Here’s a fun way I’m keeping the elements I enjoy about gaming in my work towards financial independence. If you currently game and realize the time just isn’t there to game and build your wealth, perhaps adding the following to your strategy will help with the motivation and fun factor:

Pac-man is a great metaphor for gobbling up debt.

Vanquishing The Enemy (Debt, Bad Habits, Mindset)

Before you can truly start this game, you must complete a trial, or a proving ground to show you have the mettle to keep going. For most, this will be the toughest challenge of the game. If you can beat the enemy, which all too often comes down to our own behaviors and the messes we’ve created, then you can step into your financial independence journey with the confidence to know you’ve already overcome the hardest challenges upfront.

Leveling Up (Savings, Investments, Wealth)

Leveling up is all about growth. While the leveling up does start at the moment you begin the game, the real fun will begin once you’ve taken out the enemy. This is where continuing personal growth and keeping patient, yet diligent come into play. This is where you build your skills and fine-tune your efforts. Here you’ll be tasked with improving your financial security because the goal wasn’t to wipe out debt, it was to increase your net worth.

The fun little caveat is that this game never really ends. It essentially has infinite levels and relies on you to set the benchmarks.

For example, you’re leveling up may look like this: If you knock one off before the other, simply swap them out. If you check one off, and you slip up, just uncheck it and give it another go. With time being the largest factor against you, the more efficient you are the better. That being said, there are as many restarts as you need,

Leveling Up Your Finances: The Game

Level One: Stop Doing With Money (insert bad habit here)

Level Two: Reach $500 In Savings

Level Three: Pay-Off First Credit Card

Level Four: Pay-Off Second Credit Card

Level Five: Reach $1,000 In Savings…and keep going. You create the levels in this game, be as specific and creative as you want to be.

I personally like to put habits upfront, because I believe if you don’t kill a habit, it’ll likely come back and interfere with your goals.

Working With Guild (FI Community) Resources To Accomplish The Goal

All throughout your quest, it’s critical to gather resources such as community interaction, read authoritative books, etc. (Hint: There are amazing bloggers and financial independence experts you can connect to and learn from and together with) Think of these resources as your guildmates that are there to help you and have your back. They also want to learn from you and your experience because collectively, the stronger you are, the stronger they are, the stronger the entire community is!

Get Those Trophies!

Learning and participating within a community are fantastic ways to stay engaged. I’m certain they increase your chances of fulfilling your goals. A great way to earn those rare and sometimes hard-to-get trophies, which aren’t necessary to complete the game, is to add them to your leveling list. Here’s the same list from above but with my made-up trophy achievements added in, you can add whatever accomplishments that motivate you to go one step further:

Level One: Stop Doing With Money (insert bad habit here)

Level Two: Reach $500 In Savings

  • SocialFIzed – Trophy earned by connecting and Introducing yourself to the FI community

  • FIx It! – Trophy earned by killing a bad financial habit. (can be earned numerous times!)

Level Three: Pay-Off First Credit Card

  • UnFIltered – Trophy earned by starting a blog and letting your voice be heard!

Level Four: Pay-Off Second Credit Card

  • FIbrarian! – Trophy earned for reading three personal finance books.

You can use those trophy examples or create ones that suit and motivate you better! The game keeps going until you reach your goal. Early on, it could very well give you the extra motivation to keep pressing forward!

Remember that a good source of trophy material can be found within the Financial Independence community or even here at Money Fit Academy! It doesn’t hurt to interact!

I hope you enjoyed this fun article! Good luck on your personal journey to FI and living debt-free!

If you have any questions or want to kick around some ideas with me, by all means, feel free to comment below. I will respond as quickly as possible.

About the Author

This Website Is Using Cookies. We use cookies to improve your experience. By continuing, you agree to our cookie use.

Client Credit Report Authorization

You hereby authorize and instruct Debt Reduction Services, Inc. (DRS, dba Money Fit by DRS) and/or its assigned agents to:
  • Obtain and review your credit report, and
  • Request verifications of your income and rental history, and any other information deemed necessary for improving your housing situation (for example, verifying your annual property tax obligations and homeowner’s insurance fees)
Your credit report will be obtained from a credit reporting agency chosen by DRS. You understand and agree that DRS intends to use the credit report evaluate your financial readiness to purchase or rent a home and/or to engage in post-purchase counseling activities and not to grant credit. You understand you may ask any questions pertaining to your credit report. However, while DRS will review the information with you, the company is not able to furnish you with a copy of your credit profile. You hereby authorize DRS to share your information from your credit report and any information that you provided (including any computations and assessments produced) with the entities listed below to help DRS determine your viable financial options.
  • Banks
  • Counseling Agencies
  • Debt Collectors
  • Landlords
  • Lenders
  • Mortgage Servicers
  • Property Management Companies
  • Public Housing Authorities
  • Social Service Agencies
Entities such as mortgage lenders and/or counseling agencies may contact your DRS counselor to evaluate the options for which you may be eligible. In connection with such evaluation, you authorize the credit reporting and/or financial agencies to release information and cooperate with your DRS counselor. No information will be discussed about you with entities not directly involved in your efforts to improve your housing situation. You hereby authorize the release of your information to program monitoring organizations of DRS, including but not limited to, Federal, State, and nonprofit partners for program review, monitoring, auditing, research, and/or oversight purposes. In addition, you authorize DRS to have your credit report pulled two additional times to conduct program evaluations. You also agree to keep DRS informed of any changes in address, telephone number, job status, marital status, or other conditions which may affect your eligibility for a program you have applied for or a counseling service that you are seeking. Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.

Client Privacy, Data Security, and Client Rights Policy

NOTE: This sheet is to inform new or returning clients about our services, records, fees, and limitations that may affect you as a consumer of our services. This form also discloses how we might release your information to other agencies and/or regulators. If you do not understand a statement, please ask a Debt Reduction Services (DRS) counselor for assistance.

Debt Reduction Services, Inc. (DRS) has put into place policies and procedures to protect the security and confidentiality of your nonpublic personal information. This notice explains our online information practices and how we use and maintain your information to conduct our financial education and credit counseling sessions and to fulfill information and question requests. This privacy policy complies with federal laws and regulations.

To provide our financial education and credit counseling services, we collect nonpublic personal information about you as follows: 1) Information we receive from you, 2) Information about your transactions with us or others, and 3) Information we receive from your creditors or a consumer reporting agency. We do not share this information with outside parties.

We use non-identifying and aggregate information to better design our website and services, but we do not disclose anything that could be used to identify you as an individual.

You hereby authorize DRS, when necessary, to share your nonpublic personal, financial, credit, and any information that you provided (including any computations and assessments produced) with the following entities in order to help DRS provide you with appropriate counseling or guide you to appropriate services: third parties such as government agencies, your lender(s), your creditor(s), and nonprofit housing-related and other financial agencies as permitted by law, including the U.S. Department of Housing and Urban Development.

To prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place appropriate physical, electronic, and managerial procedures to safeguard and secure the information we collect online. We limit access to your nonpublic personal information to our employees, contractors and agents who need such access to provide products or services to you or for other legitimate business purposes.

Debt Reduction Services, Inc. complies with the privacy requirements set forth in the HUD housing counseling agency handbook 7610.1 (05/2010), including the sections 2-2 Mc, 3-1 H(2), 3-3, 5-3 F, and Attachment A.5. At all times, we will comply with all additional laws and regulations to which we are subject regarding the collection, use, and disclosure of individually identifiable information.

  1. Services: DRS provides the following housing-related services: counseling that includes Homeless Assistance, Rental Topics, Pre-purchase/Homebuying, and Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase); Education courses that include Financial literacy (including home affordability, budgeting, and understanding use of credit), Predatory lending, loan scam or other fraud prevention, Fair housing, Rental topics, Pre-purchase homebuyer education, Non-delinquency post-purchase workshop (including home maintenance and/or financial management for homeowners), and other workshops not listed above.

Please refer to DebtReductionServices.org for details of our services.

  1. Limits: Our services are limited to our normal weekday business hours. We do not provide individual counseling or education services after hours or on weekends, although our education courses are available 24/7.
  2. Fees: We do not charge fees for our financial management counseling and education. However, if you use them, you may have to pay for our Debt Management Program, Student Loan Counseling, Bankruptcy Certificate Services or certain financial education courses (homebuyer education, rental topics, fair housing, predatory lending, and post-purchase-non-delinquency including home maintenance and/or financial management for homeowners).
  3. Records: We maintain records of the services you receive, including notes about your progress or other relevant information to your work with us. You have the right to access and view your records by making a request to your counselor.
  4. Confidentiality: We respect your privacy and offer our services in confidence with the understanding that we may share such information with auditors and government regulators. Certain laws or situations may also lead to disclosing confidential issues, such as those involving potential child abuse or neglect, threats to harm self or others, or court subpoenas.
  5. Refusal of Services: You have the right to refuse services without any penalty or loss.
  6. Disclosure of Policies and Practices: You will be provided our agency disclosure statement.
  7. Sharing of Information: Sometimes we will need to contact other agencies or we may need to share your information, including your records, with other agencies or with regulators. We will do this only if you sign this form that gives us permission except for limited reasons; please see # 5 above for examples of such situations.
  8. Other: You have the right to be treated with respect by our staff, and we expect the same from you in return. We encourage you to always ask questions if something is not clear. We also encouraged you to express your thoughts and advocate throughout our services.

You acknowledge that this authorization will remain in effect for the duration of time that DRS serves as your housing counselor or financial education provider. You also acknowledge that should you wish to terminate this authorization, you will notify DRS in writing.

Disclosure  Statement

NOTE: If you have an impairment, disability, language barrier, or otherwise require an alternative means of completing this form or accessing information about our counseling services, please communicate with your DRS representative about arranging alternative accommodations.

Program Disclosure Form

Disclosure to Client for HUD Housing Counseling Services

Debt Reduction Services, Inc. and its financial education arm, Money Fit by DRS, offer the following housing counseling and educational services related to housing, personal finance, and bankruptcy certificates to consumers:
  • Housing Education Courses: DRS offers many online self-guided education programs classified as Financial, Budgeting, and Credit Workshops (FBC), Fair Housing Pre-Purchase Education Workshops (FHW), Homelessness Prevention Workshops (HMW), Non-Delinquency Post Purchase Workshops (NDW), Predatory Lending Education Workshops (PLW), Pre-purchase Homebuyer Education Workshops (PPW), and Rental Housing Workshops (RHW). These courses help participants increase their knowledge of and skills in personal finance, including home affordability, budgeting, and understanding the use of credit, as well as predatory lending, loan scams, and other fraud prevention topics, fair housing, rental topics, pre-purchase homebuyer education, non-delinquency post-purchase topics including home maintenance and/or financial management for homeowners, homeless prevention workshop, and other workshops not listed above relating to personal finance and housing. Course details are found below under “Housing Workshops.”
  • Home Equity Conversation Mortgage (HECM) Counseling (RMC): Via telephone and virtual platforms, we offer the required HECM counseling nationwide in addition to in-person counseling in Boise, Idaho. We also offer in-home counseling options in thirty counties across southern Idaho for an additional fee to cover our travel and additional staff time costs.
  • Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase) (FBC): Clients receive counseling and materials on the proper maintenance of their home and mortgage refinancing. Clients can find help and resources by phone, in our Boise office, or virtually on all topics related to stabilizing their long-term homeownership.
  • Services for Homeless Counseling (HMC): Clients receive phone, virtual, or in-person (Boise) counseling to evaluate their current housing needs, identify barriers to and goals for housing stability, establish a path to self-sufficiency, and connect with emergency shelters, income-appropriate housing, and/or other community resources (e.g. mental healthcare, job training, transportation, etc.).
  • Pre-Purchase Counseling (PPC): Clients receive counseling through the entire homebuying process. Assistance may involve creating a sustainable household budget, understanding mortgage options, building their credit rating, and putting together a realistic action plan to set and achieve homeownership goals.  Additionally, clients will receive materials and resources about home inspections and other homeownership topics relevant to successfully maintaining a home.
  • Rental Housing Counseling (RHC): Via phone, in-person appointments (Boise, ID), or virtual platforms, clients receive housing counseling relevant to renting, including rent subsidies from HUD or other government and assistance programs. Topics can also address issues and concerns having to do with fair housing, landlord and tenant laws, lease terms, rent delinquency, household budgeting, and finding alternate housing.
DRS also offers the following services:
  • A Debt Management Program (DMP) for consumers struggling to pay their credit cards, collections, medical debts, personal loans, old utility bills, and past-due cell phone accounts;
  • The Budget Briefing and Debtor Education Certificates that are required during the Bankruptcy filing process;
  • A Student Loan Repayment Plan Counseling and application service.

Relationships with Industry Partners

Through such services, DRS has established financial relationships with hundreds of banks, credit unions, and creditors such as American Express, Bank of America, Barclays, Capital One, Chase, Citibank, Credit One, Discover, Synchrony, US Bank, USAA, Wells Fargo, and others.

No Client Obligation

The client is not obligated to receive, purchase or utilize any other services offered by DRS or its exclusive partners to receive financial education or housing counseling services. Alternatives: As a condition of our counseling services, in alignment with meeting our client services goals, and in compliance with HUD’s Housing Counseling Program requirements, we may provide information on alternative services, programs, and products available to you, if applicable and known by our staff. Alternative DMP services include negotiating better repayment terms directly with your individual creditors, paying your debts as agreed, or, in extreme cases, filing for personal bankruptcy. Alternative credit and education services can be found through MyMoney.gov or the Jump$tart Clearinghouse of online financial education resources. Housing counseling alternatives can be found through HUD at www.hud.gov/findacounselor.
Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.

Housing Counseling and Education Fee Schedule

 

Online Education Program Fees*

Homebuyer Education Course: $59 per participant

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours)

RentalFair HousingPredatory Lending / HOEPAPost-Purchase (Non-delinquency post-purchase workshop, including home maintenance and/or financial management for homeowners) Online Workshops: $49 per participant

  • Approximately 1 hour each

Other Self-Guided Financial Literacy Webinars (e.g. creditbudgetinghomeless preventiondebt prevention): $0

One-on-one Counseling Fees*

Pre-purchase Homebuying Counseling, Rental Counseling, Post-purchase Ownership Maintenance and Financial Management: $75

  • Session by the hour

Reverse Mortgage/HECM Counseling with Required Certificate:

  • $200†

Credit Report Fee: Paid Directly by Client

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page

†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there).

Housing Counseling and Education Fee Schedule

 

Online Education Program Fees*

Homebuyer Education Course: $59 per participant

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours)

RentalFair HousingPredatory Lending / HOEPAPost-Purchase (Non-delinquency post-purchase workshop, including home maintenance and/or financial management for homeowners) Online Workshops: $49 per participant

  • Approximately 1 hour each

Other Self-Guided Financial Literacy Webinars (e.g. creditbudgetinghomeless preventiondebt prevention): $0

One-on-one Counseling Fees*

Pre-purchase Homebuying Counseling, Rental Counseling, Post-purchase Ownership Maintenance and Financial Management: $75

  • Session by the hour

Reverse Mortgage/HECM Counseling with Required Certificate:

  • $200†

Credit Report Fee: Paid Directly by Client

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page

†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there).