Do You Have a Rich Mindset or a Poor Mindset? (Take the Test to Find Out!!)

rich mindset

Bob and Jim are identical in almost every way. They’re both tall, thin, semi-athletic, they both love the show “American Pickers”….AND they net exactly $60,000 a year from their day jobs…. But they do differ in one area: How they spend their money.

Do You Have a Rich Mindset or a Poor Mindset?

Bob isn’t out of control with his money – I mean, he always has enough to pay the bills and he actually saves a little bit each month too. In his mind, he’s doing quite well, but in reality he has a poor mindset and saves far less than what’s necessary to be rich.

Jim, on the other hand, has a rich mindset. He knows that simply “paying the bills” isn’t enough to get ahead financially. While Bob only saves 1% of his income each month, Jim saves 33%.

Same Income, Different Savings Plan

. . . → Read More: Do You Have a Rich Mindset or a Poor Mindset? (Take the Test to Find Out!!)

Top 5 Ways You’re Losing Money When Buying a Car

losing money while buying a car

According to USA Today, over 17.5 million new cars were sold in the U.S. in 2015…. And then a new record was set in 2016 with sales topping 17.55 million.

We Americans sure love our cars, and sometimes we get so enamored with the look, the smells, and the status symbol of the brand that we lose all sense of logic during the new car purchase. And with the escape of logic, we often find ourselves questioning our purchase just hours after the buy…

Top 5 Ways You’re Losing Money When Buying a Car

You’re losing money, you know it, but what’s really happening during the car sale? And how much are you getting screwed because of what you don’t know?

It’s time to stop the madness. Take note of these 5 ways you’re losing money when buying a car and vow to never let them happen again.

1) . . . → Read More: Top 5 Ways You’re Losing Money When Buying a Car

3 Straightforward Insights For the Rent vs. Buy Riddle

buy a home on a low income

People are having serious arguments and deep conversations about the buying vs. renting a house debacle. The traditional American dream supports home ownership and you are still not “made” until you own a home. Modern insights into the real economic of owning a home suggests that it doesn’t always make the best financial sense. In fact, quite a number of people in Europe are content to rent for life.

However, I strongly believe that all the rent vs. buy arguments are pointless – each to his/her own. Buying a home makes perfect sense in some scenarios and renting a home could be the smartest choice in other instances. This piece seeks to disabuse your mind with three questions that could help you untie the buying vs. renting knot.

How long can you stay put in a spot?

Location! Location!! Location!!! Where you choose to live wields a huge influence . . . → Read More: 3 Straightforward Insights For the Rent vs. Buy Riddle

Are You Treating Debt Like an Emergency?

treating your debt like an emergency

Remember back in college? It was the first week of school, and you were amazed by your sudden independence. Just a few months ago you weren’t allowed to chew gum or loiter in the hallways for more than 2 minutes. But now, your professors weren’t even taking attendance in class!

So when you saw the credit card booth, it was hard to resist. Getting a credit card is another sign of being an adult. And you were desperate to prove how grown up you were. Besides, that towel with the school logo on it was a pretty great bonus. Who can resist a free gift?!

It probably took months or even years for you to realize the high price of that towel. Over time, you racked up so much debt that you can barely stand the thought of opening the bills when they come in. Better to not even know . . . → Read More: Are You Treating Debt Like an Emergency?

How to Get Rid of Debt WITHOUT Living in an RV

get rid of debt without living in an rv

The craze is spreading across America…people selling all their stuff, cramming into small RV’s, and then pretending that it’s the best thing ever…. Really?? I’m sorry, but I think I speak for 95% of the population when I say that I’d rather get rid of debt without living in an RV…

…and it’s entirely possible by the way.

It’s great and all that people across the globe have tackled their debt head on and are willing to drive around a camper to do it. But, RV life isn’t for everyone. So, I’m actually going to steer people away from it in this post.

If you hate traveling, have a family of 5+, or if the thought of camping makes you throw up in your mouth a little, then this write-up is for you.

How to Get Rid of Debt WITHOUT Living in an RV

Let me tell you flat out. . . . → Read More: How to Get Rid of Debt WITHOUT Living in an RV

The One Secret to Success That I Absolutely Swear By

one secret to success

“That’ll be $8 please.” I beamed with pride as I collected the money. That was my third shoe rack sale of the day, which meant nearly $24 of pure profit. Not too shabby for a 12 year old!

The One Secret to Success That I Absolutely Swear By

My Dad worked for a local furniture company. There weren’t a ton of perks, but he DID have the rights to some scrap lumber at the end of the day. Not knowing exactly what he’d do with it, he’d find himself taking a dozen or so plywood scraps home with him each day. And as they began to stack up, I started to see dollar signs!

You see, the scraps were rectangular – approximately 30 inches by 10 inches – and were all exactly the same size. I figured that if I put two boards on the sides, and spaced three from . . . → Read More: The One Secret to Success That I Absolutely Swear By

Rental Properties – Are They a Curse or a Blessing?

are rental properties a smart investment

“You’re going to buy a rental property??” …my broke friend exclaimed. “I had a buddy that tried that… The tenants didn’t pay the rent, they trashed the home completely, and he lost tens of thousands of dollars. You won’t see me buying a rental property any time soon.”

More often than not, this was what I heard from people when I let them in on my investment plans a few years back. It wasn’t very encouraging to say the least…and it honestly took some of the air out of my sail for a while…

Are Rental Properties a Smart Investment?

Ignoring all of the “wise advice” from my friends and neighbors, I went ahead and bought a rental place anyway.

So what’s the verdict? Has land-lording been a complete nightmare? Has my rental house been burned to the ground? Or are all of my friends just complete idiots that knew . . . → Read More: Rental Properties – Are They a Curse or a Blessing?

Which Income Class Are You In? How Do You Rank?

Income Class

“The other people that live on this lake aren’t uber-wealthy are they? No, they’re middle-class, right?….Like us!” …said one of our friends that earns over $200,000 a year….

I literally had to bite my lip to keep from entering the conversation.

Middle-class like you? You really think you’re middle class? In what fairy-tale world do you live where $200,000 a year is considered middle-class?

Instead of blurting out my brash comments, I decided to suppress them, do some research, and then plaster my findings passively all over this website! Lol.

Which Income Class Are You In?

While I was delving into the details of the income classes, I naturally grew curious around where Liz and I landed on the income spectrum, and then where we might land in the future with our growing rental empire (which at this moment is an “empire” of one… ;)). So of course if I’m . . . → Read More: Which Income Class Are You In? How Do You Rank?

Money and Patience: How to Keep Going When Financial Progress is Slow

financial progress

I recently had a bit of set back in my own journey that caused me to start thinking (read: stressing out) about my perceived lack of financial progress. I’d made some investments in my business, client payments were late and I had to pull from my emergency fund to pay the credit card bill.

To some people, they would read this and say, “Eh, that’s no big deal.” But I’m emotional in these kinds of situations. To me, it was more like “I worked so hard to save that money and now I had to use it. This means it’s going to take me longer to reach my savings goal!”

This started a downward spiral where I felt like I wasn’t clear on what I want out of my finances and some goals seem like they are eons into the future. I felt like a fraud.

Fortunately, I did . . . → Read More: Money and Patience: How to Keep Going When Financial Progress is Slow

How We Survive (and Thrive) on Just One Income (and How You Can Too!!)

Just One Income

I knew we lived simply, but how in the heck do we survive on just 1/3 of our income with my wife being a stay-at-home mom?

Do I earn a six-figure salary at my day job?

Nope.

Well then we must be living in an RV in my parents’ driveway, right?

Ummm, not even close.

How We Survive (and Thrive) on Just One Income

Liz and I live in a 3 bedroom, 1.5 bath home in a fantastic area of town. We go out to eat almost every weekend and give 10% of our income away to our favorite charities. For the most part we’re pretty normal, so how is it that we only need 33% of our one income to survive?

There are FOUR main reasons.

1) We Paid Off Our Mortgage

My last relationship failed and like most, the majority of our fights circled around the topic of . . . → Read More: How We Survive (and Thrive) on Just One Income (and How You Can Too!!)