Income - Show Me The Money!
And the secret to getting rich quick is...
Yeah good luck with that. But seriously, I have learned a few things about money and finance, debt and credit, and all that stuff. I feel I have a unique perspective on it having been in all sorts of financial situations, bad and good. I think a lot of advisors and experts would disagree with most of my perspectives, so don't take ANY of this as financial advice, I'm just sharing my thoughts and experiences.
Always pay your bills on time, pay health bills last if you have to prioritize
Setup autopay to pay the minimum on your debt
Use "debt snowball" to send extra to smallest debt first, roll into next, and so on
A new car lease is cheaper, safer, more reliable, has no surprise repair payments, is under warranty, and is better than hoping a $1000 junker will get you to work safely
Buy a home as soon as you can in a nice area with a good school district, even if you don't have kids - buy a condo or townhouse if you cannot afford a single family home
With 3.5% down via FHA loan, you can buy a 4 unit building if you live in 1 unit for at least a year and likely live there for free as long as the other 3 units are paying rent - rinse and repeat each year
Always pay enough into retirement to at least get your employer's matching percentage - do not pass up free money!
More to come!
Consulting in London - on bridge near MI-6 building
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