[Perfectlap]

they call that fiscal consolidation. Getting rid of expenses and debt.

But deciding to pour more money into a new side project doesn't really make sense to me after parting ways with something you value.
Invest that side money instead. Open up a Sharebuilder account with ING for instance.
it will make montly investments with your extra cash. Buy some tech and energy ETFs. In the long run it might be the smartest thing you ever did.
The way incomes for people in your age group are trending and the polar opposite trajectory of Wall Street really underlines the need for more people to start investing sooner. Real estate is not going to do wonders for net worth like it did for the babyboomers. At the end of the day the twenty somethings will be relying heavily on their investments and of course most are largely in dark about investing until its too late to start.