Avg car repair loan repayment
There is this problem I think in America in general where money is taboo to a certain extent.
You are doing wonderfully with your financials and those types of thing. Like no, direct cash advance loan lender online payday loans the goal should be not be to compare or all these other things.
Mindy and I certainly are not perfect with money, not close. But I think a lot of people have that problem when it comes to talking to other people about money because you might be comparing yourself to someone you think … They might not even be this way. But you might think has more wealth or is doing better than you. When we interviewed Rosemarie Groner way back on episode four from The Busy Budgeter, she said that one of her big things when she was budgeting was these little trips. And what helped her a lot was to create a little pantry in her house.
So what are the things that you are constantly buying at Target specifically, at Amazon specifically that you need but you can store in your house?
You have enough loans in delaware money … You are fortunate enough to be able to afford to stock up. Put it in the spare bathroom or even in one of the closets. It goes to show that there is definitely waste in there. My waistline would thank me in addition to my wallet. Prior to moving to Pittsburgh I lived in New Orleans for nine years. And moving to Pittsburgh has helped some because the food is just not as seasoned. Mindy:Is there a place in your house … Do you have a garage that you could put a freezer? Scott:Well, just think about how amazing your contributions to the group are going to be when you do this enormous run once a month instead of these littler ones every week. Scott:And your goal I think in general is to save up for a rental property in the next two years or so. So I have about 50,000 I could play with if I wanted to.
And when do you think your timeline is for buying a rental property? So in that case it could be as soon as three to six months.
So for me it would just be an opportunity to be rid of that debt. Because honestly the plan was avg car repair loan repayment to have done it in January of last year with that company stock I had sitting. So like I said, that stock today is only worth about 11,000 or 12,000 but in terms of value when I purchased it, it actually was worth, 20,000, 25,000.
You can sell the stock whenever the time is up right?
Scott:I had the same thing at my old company and what I would do is I would just put … You could buy up to 25,000 in stock and so I only made like 45,000 at the time.
And so I put all of my paycheck into it and arbitraged it and sold it immediately. Scott:avg car repair loan repayment Okay so going back to the car thing in general, I just wanted to point out that in the context of your overall set of goals here, I mean, you could save three, 4,000 a month by really getting smart about your spending, writing things down like Mindy said, having an accountability group and really kind of getting those controls in place on your spending. This is not a high stakes decision, whether to refinance the car. Higher stakes decision would be selling and swapping out the car or changing up something else there. And coinciding with that, avg car repair loan repayment do you hae a real estate agent in the area that you want to invest in? Some who invest local, some who have become realtors themselves. I have a few friends who have done that to help themselves with investment.
I have a really good friend in a different market who is willing to become combination of realtor and potential investment partner.
Because even my house … My job assignment is only a few more years left in it and because the mortgage versus the amount I could get in rent is quite a bit of a delta. Like I said, my mortgage is under 1,200 and I think I could probably get 2,000 a month in rent.
They would have to get their own electric, their own gas.
I think that covers CapEx, vacancy, a little bit of maintenance, those types of thing.
Trying not to beat myself avg car repair loan repayment up as Mindy says I should not. Make sure your first property generates you income.
It would be no different than living in a current town home. Is it the house, the car, the discretionary spending, the restaurants, the groceries?
Because the few clicks of a button just make it so insanely easy. If I make it more difficult for myself to be able to access those and then I like the idea of going down to one card because spreading it out over multiple cards allows it to get out of hand very quickly. Tracy next month is going to spend less than Tracy this month spend and on and on and on. You got a bonus which you do not depend on for your spending and those types of things. Asset allocation is really a fundamental issue for you. You have one tactical choice around the car payment and those things. But just depends on how soon you need access to that liquidity for no fax loans other investing purposes.
And for that your spending is going to be the key challenge I think. Really make some choices that automate or make it difficult for you to spend outside of those boundaries that you place. And then maybe I think also …My last point here would be, thinking about some sort of accountability mechanism. Could be a mastermind group with some of those ladies that you know.
I truly appreciate everything that you guys have shared with me. I am walking away with lots of ideas and optimistic about the new year.
Thank you so much for coming on and sharing all this stuff. I stole this from the money channel and somebody posted it and it loans in virginia got like a bagillionn likes. I told him I would use it on the podcast so who was it? But Tracy, thank quick installment loans you so much for coming on the show and sharing your story and all this with us. We really enjoyed it and we hope that you have a great and very successful 2021. Some people will have much more in home equity if they bought in a place that appreciated for a while over the last five years and a little bit less in retirement accounts, but that story I think is repeated all across middle class America.
And I think the root cause of that is just a lack of intentionality about really attempting over a long period of time to build wealth outside of those two places that gives you those options.
But longterm we just talked to the Mad Fientist and he had some great points about how … Look, if avg car repair loan repayment you want to retire early, traditional retirement is part of early retirement. It could be a little virtual one with a couple of people across the country.
And I am so excited for Tracy because I know she is just going to kill it. We have actually recorded several more in advance and we are fairly male heavy on these episodes. I think the key is for these to be as helpful as possible and for us to learn as cash advance louisville ky many lessons as possible, to have all different types of folks. And I would say in general our applicants have been a little towards the higher end of the higher income range. A lot of applicants for example with north of 100,000 cash advance stockton ca in earnings and avg car repair loan repayment those types of things. And I think that it would be great to have some folks with maybe a little less earnings. But the situation for them makes it a legitimate next day loans really intriguing possibility and I hope that they look into it. Help us reach new listeners on iTunes by leaving us a rating and review!
Josh grew up without much money, causing him to not have much of a financial foundation when he reached adulthood. Josh stumbled upon a book that changed his financial view forever.
After they were both on board for FI, house hacking was their next stop. We just want to get to know you a little better and want to hear your questions directly from you and spend some time with you in our Facebook group.