This episode is part of our FINANCIAL FIERCENESS!™ series! Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our overall strategic development plan for surpassing our goals. This episode is, “Why a “good job” making “good money” will leave you poor.”
A “good job.” Is it the solution to financial insecurity? No. Financial independence is the goal. This is when you have no debt and income from what you own (rental properties, interest, etc.) pays your bills on your necessities (property taxes, utilities, etc.) and provides you with “extra money” for you to use at your discretion (going out to eat, entertainment, etc.). Financial dependance (i.e., being “poor”) is when you do not have enough income to pay your necessary bills and provide you with “extra money” to use for fun (discretionary income). There is a limit to how much income you are able to earn from your labor. You are able to increase the variable of how much you earn per hour (based on wages and increased efficiencies), yet you are always limited to how many hours you are able to utilize for labor due to the fact that you are one person. What happens if you “lose” your job? If you don’t have the income (from what you own) to pay your bills, you are financially dependent (or “poor”). Earning more income [...] This episode is part of our FINANCIAL FIERCENESS!™ series! Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our overall strategic development plan for surpassing our goals. This episode is, “Rich” on $1,800 USD (or less) a month? Really!? How?”
Imagine, you have at least $300 USD per week to spend on whatever you want. All of your bills are paid. You have your own home and all of your bills are paid (including health costs, medicine, etc.). You have an “extra” $300 USD to use per week on whatever you desire. Go out to eat, to the movies, visit a friend out of town. Buy yourself something nice to wear. You are in charge. $1,800 USD - necessary expenses (property tax, water, electricity, gas, internet, etc.) of $600 USD per month = $1,200 USD per month/ $300 USD per week “extra” But, I could spend $1,800 on one dress! Or, one meal at a fancy restaurant! Or, one bottle of wine! This show is stupid and ridiculous! You can spend how much you want on what you want. That is your choice. A dollar [...] This episode is part of our FINANCIAL FIERCENESS!™ series! Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our overall strategic development plan for surpassing our goals. In this episode we are examining the issue of, “How to buy a home with challenges (credit, single woman, etc.)!”
Many individuals want a home but are not treated well by real estate professionals when we go to buy a home. Some of us are told that we are not able to buy a home when we are in fact able to do so! Some people may treat us poorly because of our credit or our status (single woman, ethnicity, etc.). There is nothing more frustrating than being ready to give someone your money and they won’t take it! I have experienced many people telling me “no” in my property purchase journey andthis show is to identify when to ignore a “no” and how to find a “yes” in life! If you have income and some credit, you are most likely going to be able to purchase a home (not any home you want, but a home that fits your credit profile and income). It is imperative that you understand the options available to you and that you are aware of your rights. There are historical practices redlining ,etc.) that still impact buyers today. In addition, there is the basic human condition to address (of jealousy, etc.) that may result in you being incorrectly told that you are not qualified for a home when you absolutely are! Let’s explore how to handle realtors, lenders/ mortgage brokers, inspectors, title companies and [...] This episode is part of our FINANCIAL FIERCENESS!™ series! Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our overall strategic development plan for surpassing our goals. This episode is, “How to buy your first (or next, or best) home!”
Many of us remember some discussion with a relative when we were teenagers wherein we were told, “This is my house! I make the rules. When you have your own house, you can make the rules!” This show first explores the question of why we think we want to buy a home. Do we want a house because of the freedom of being able to decorate it anyway that we desire (purple polka-dots, etc.) and the ability to do what we want, when we want, how we want? Then, purchasing a home for ourselves may be a great choice to ensure that we are joyful in our lives! If we are not sure where we want to reside and we despise the idea of having to do maintenance, it may not be the right time for us to purchase a property. Once you determine why you want to purchase a home, how do you buy it? If you pay cash for it, do not spend every single penny that you have. Always leave a cushion of extra money. Ensure that you negotiate the best possible price and do not let anyone know that you are in love with a property until you have closed on it (and it is yours). If you are borrowing money, again, do not spend every penny you have on the down payment and closing costs. Always [...] |
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