Should you buy a house flip or renovate?

KNOW WHAT YOU’RE GETTING INTO   When looking at buying your first house or your dream house, picking a house flip or choosing to renovate should be a question you ask yourself. As a household we’re not generally what you’d call nosy but sometimes going to see an open house can give you great ideas when you see renovations in real life. This is always an excuse for the wife to put on her shoes and drag me out because she’s seen another house that we must go and see. I’ll agree with her on some things and not on others. You don’t have to agree with each other on everything, which would be boring.As a husband, I will take interest in what my wife has for ideas around the house because 99% of the time I will be the one doing the install. Having an interest and input on what can and can’t be done makes dream renovations a bit more realistic. Looking at interior design magazines can give you great ideas but having a look at other houses and the renovations that have been completed is a good indication what would add value and sometimes what would be […]

How to be your own money manager

MONEY MANAGING IS PART OF LIFE   Becoming your own money manager is something that you should get used to especially if you plan to live as debt free of a life as possible. I talked about the Money Box a few days back and that’s really where my passion for finance was born and the money manager in me came out. Learning about finances is not so bad when you are watching television, reading the paper, online posts or even in magazines as long as it’s not about you. Many people don’t want to learn about their own finances because they don’t want to know how far in debt they are and for some people, they simply don’t care about money. They could care less if they have to claim bankruptcy over and over again. You may think it becomes a game when bankruptcy becomes the norm and to be honest if you can’t control your spending you really need to seek help. Bankruptcy is not always the answer to the problem it’s more of a band-aid approach to solve the stresses of bill collectors knocking on your door. I know a couple at work who had it all, […]

Should I buy an investment property?

DO YOUR RESEARCH   Buying an investment property is a big decision and one that you must do your research into first before saying you want to be a landlord. Today one of my fans Allyson shares her story of wanting to finish her education and buy an investment property to get her into the real estate market. Since I was little, I have known that I wanted to move out into my own house. I wanted something that belonged to me that I could sell when I was ready to watch my own family move on. When I was in high school we had a class that was supposed to prepare me for the future of living away from home. We had to fill out a sheet with a basic budget format: monthly rent, food, utilities and expenses. I was the only person in the class that crossed out rent and labelled it mortgage. For some people, renting is a valid option and I can respect that, but for me, renting never made sense in my head. Why would I want to give somebody else my hard-earned money for shelter when I can just buy my own? Obviously I […]

Do you need financial motivation?

PUSH YOURSELF TO SUCCEED   Financial motivation doesn’t normally just jump into your head when you wake up in the morning. Motivation for many typically happens because something is either wrong or you want to make changes to your life. Some people need personal motivation to get through daily, weekly, monthly and yearly tasks and if that’s what it takes, go for it. Asking for help is not easy to do especially if you are a strong, independent person who struggles with showing weakness in any form. I know plenty of friends especially my male friends who won’t even ask for directions because they don’t want to look like they don’t know where they are going. These days we combat that with the GPS but there’s only so much a GPS can do. The same goes with letting our finances ride out on their own. You can’t expect to see optimal growth in your savings account if you aren’t focused on growing it. Same goes with paying your bills on time and earning enough money to pay cash for something you want rather than putting it on credit. Motivation to have patience¬†and wait until you have your feet on the […]

%d bloggers like this: