Financial Tip of the Day

[Saltyag15]

Good post, and thanks for the reminder! It’s easy to get caught up in the newest and coolest.

[bdubb]

FANTASTIC POST!

I do mortgage loans all the time for that "rich" neighbor with the brand new King Ranch. Well, I try at least. They very often can't qualify for squat.


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How often do you think mortgage loans get manual underwriting due to lack of a credit score? Where actual net worth and income is considered in honest versus a FICO and being good at spending someone else’s money?

[Avid Hunter]

Thanks for the tip! I really enjoy when you share these with us. I live in a content state 90% of the time and it truly does make life more enjoyable.

[RDL]

Solid advice! There’s lots of people in lots of debt trying to keep up with the Jones’s! Including me at one time!


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[brysdad]

Thanks for the tip. I have trouble with the contentment part.

[M16]

Always live below your means, whatever that may be. I would say the majority of folks don't these days, or even know what that means to be honest.

Fify

[gingib]

MAN I CANNOT LIKE THIS ENOUGH!!!!

90% of americans live paycheck to paycheck. In debt and on plastic

This is awesome. Keep it up

[eradicator]

Fify

Fair enough

[Wayspr]

Far too many people are jealous of their "rich" friends with the big house, boat, foreign cars etc. In reality most of em are up to their gills in debt with very little savings. I work with attorneys for a living, many of them have the BMW in the parking lot but are struggling to get business and have student loans out the butt. Don't be fooled by folks with fancy stuff, many live week to week while the guy next door driving the 10 year old truck doesn't have a care in the world because he doesn't need tomorrow's paycheck.

[Texastaxi]

Don't you get a new truck every other year?

[Rod]

Great tip!!! I could save a lot more money than I do at the present time. I wish I had done a better job at setting money aside for my retirement but on the flip side I do want to enjoy doing things while my health is good and I'm still able to do it. It's all a personal choice that everyone has to make and there really is no right or wrong decision. Save what you can and but enjoy your life because there is no guarantee for tomorrow.

[WItoTX]

Nah that's stupid. Get the F-450 with the lift, the newest bow, and the biggest camper! Hell buy way more house and property than you honestly can afford.

People like me love getting deals when folks can't make the loan payment on them anymore!

[BassMaster13]

I agree most people should save more, and teach that debt isn't your friend.
The only debt we have is our house, no having notes allows us to live life. If we want to go to Sandals or Disney with the kids we plan it and go. In my opinion people are concerned with possessions in stead of making memories and having amazing experiences.

[antonlsu]

Start young... Compounding interest is your friend.

[gingib]

As long as everything is paid for and not financed you are ahead of many. :-)

That's the problem lol.

All paying 3-8% on along with the house