A Bodey in Motion

Building momentum, one step at a time

Quick Hits: Identity theft protection tips. TSA loves pepper spray. No roommates allowed. I think I’m turning Christianese.

Slight format change (for real this time) from here on out. Last weekend was a two night camping trip, and I forgot my camera, so I’m not as on top of my posts as I would like, so I’m swapping a couple of days around to make my weeks a little easier. It’s a little light today, hope you enjoy it anyway.

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April 29, 2013 Posted by | Quick Hits and Links | , , , , , | Comments Off on Quick Hits: Identity theft protection tips. TSA loves pepper spray. No roommates allowed. I think I’m turning Christianese.

Quick Hits: What got you broke won’t get you free. Money management tips from 1939. Near space exploration.

  • In space, no one can see you post.It takes time, when you’ve first hit the point of being broke, to realize that you can’t keep doing the things you’ve always been doing. You go through much the same process as the five stages of grief. That opening stage of denial can be difficult to overcome, because the bad habits that got you into trouble are so hard to break. People think they only need to change one little thing, and all of their troubles will evaporate. That’s why it’s so important for me to make sure that the person who is asking me for financial coaching is actually open to being coached. I don’t want to be fighting their excuses every time we come together to have them try something new. What got you broke won’t get you free, you’ll have to change.
  • This is a great post covering the finer points of a money management pamphlet that was written in 1939. This was written before there were credit cards. And before the FICO score ruled over everything. And that was less than one hundred years ago. Now, the average American family has a negative net worth. Maybe we need to humbly go to our ancestors and ask for their advice?
  • 50 years of exploring near space, and we’ve barely just scratched the surface. I love that we’ve started reaching out further using unmanned missions, but I hope that we return to the moon in my lifetime.

April 26, 2013 Posted by | Quick Hits and Links | , , , , , , , , , , , , , | Comments Off on Quick Hits: What got you broke won’t get you free. Money management tips from 1939. Near space exploration.

Get Yourself Some “Why Not?”

Kevin-Smith-Why

April 25, 2013 Posted by | Past and Future, Work and Money | , , , , , , , | Comments Off on Get Yourself Some “Why Not?”

FPU Lesson 8 – Real Estate and Mortgages

Making the right decisions when it’s time to buy or sell a home are a huge part of financial success. Below are my notes from the lesson, including the key points that I highlight from the video when leading the class, and some supplemental material that I think could help the class go further on this topic.

Financial Peace Unversity

Lesson 8, Real Estate and Mortgages

Key Points

Be patient when buying a home. Think like an investor. Overlook bad and outdated features. Use experts to confirm the home’s value. The purchase of a house is a major financial event in our lives. Rushing through the process would be a mistake. Surround yourself with advisors to find a house that you will enjoy living in and will hold it’s value.

Never get more than a 15-year fixed mortgage, with at least 10% down. No more than 25% of your take-home pay in house payments. Being house poor is usually a worse fate than being in heavy credit card debt. Setting a specific upper limit to your purchase helps keep you from being in over your head.

When you get ready to sell your home, think like a retailer. You’re not selling someone a house, you’re trying to sell them their new home. Your home is now a product, show off its best features.

Next week: Lesson 9 – The Great Misunderstanding

April 24, 2013 Posted by | Work and Money | , , , , , , , , | Comments Off on FPU Lesson 8 – Real Estate and Mortgages