Two Popular Money Questions Dollarsandsensemoneytips

5 April, 2017

There is no doubt that money is a huge part of our lives. Dave Ramsey likes to say that it ranks up there with oxygen and I have to agree. You can’t do much of anything without it. It touches every aspect of our lives.

One of the most common ice breaker questions is, “what do you do for a living?”. In my case, money inevitably becomes the subject for the remainder of the conversation.

Whether it be a first meeting, hanging out with friends or a family get together, most of my conversations tend to revolve around money. I don’t mind this one bit, because it is one of my favorite topics.

I run into two major questions in these conversations and I can tell which one is coming based on the age of the person asking.

Inevitably, if they are young (we’ll say around 20) they will ask, “what is the best way to build my credit score?”

Those with more “experience” (we’ll say 28 and up) will ask, “what do you think about real estate investing?”

Both center around one core desire. Both questioners are seeking the answer to the question, “what is the quickest way to get what I want?”

For young people, they want the credit score to get approval for things that they don’t really have the money for. They have a job, so they think they have the money to buy a car,phone, house, etc., because they can afford the monthly payment. By following this path for ten years you will find your paycheck consumed by all of the companies you purchased from using your credit score. Which leads us to the question from our older crowd.

The question of real estate also stems from wants, because at this point you have heard you can invest in real estate with no money down and become wealthy. The people selling this idea to you present it really well, but this can be a very risky road. The foreclosure epidemic that struck our nation a few years ago (and still lingers in a lot of states) was produced by the idea that anyone can afford to buy a house right now. In fact, you are considered foolish not to our culture.

I want you to have a house. But if you are not ready for it, that house will have you for lunch!

A house can produce huge expenses in the form of maintenance and unexpected emergencies. If you are not financially prepared for them, they can bring you some serious headaches and often times lead to foreclosure.

Real estate investing is very similar. Even if you can get in on the cheap, if you are not financially prepared, a venture in real estate can lead you to a place of bankruptcy.

Owning a home and having nice things is great. Real estate investing is great. But do not put the cart before the horse. If getting rich were easy, wouldn’t everyone be rich? There are no get rich quick schemes that work.

When people hit there 30’s, they start to look back at the last ten years of their lives and wonder where all of their hard earned money went. The answer is not complex, but it does require changing the way you handle your biggest wealth building tool. Your income.

If you spend the next ten years the same way you spent the last ten years, you will be right where you are now.
Change the next ten years by putting your income to work for you!

“Normal is broke. Be weird!” Dave Ramsey

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My name is Tim Parady and I am 36 years old. I was born in Connecticut, raised in Virginia, had a brief layover in Kansas which led me to Texas where I met my wife and best friend. We just celebrated 145years of marriage.
I have the best job in the world, which is to improve peoples lives. I teach people how to win in all areas of there money, which affects all areas of their lives.
78% of Americans live paycheck to paycheck, with no money in the bank and little knowledge of how to invest for their retirement. You can have a different future. You can win with money and I can show you how.
I am an independent Dave Ramsey Financial Coach,and Insurance Agent at Alkali Insurance and I am here to serve you. My goal is to provide knowledge and tools to change your life. To schedule an appointment to address your financial needs and goals, email me at tim_parady@yahoo.com

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