Episode 3: Examining Your Relationship with Money
Are you using money as a tool to move you forward on the path to the life you want, or is money a painful topic? Today we are discussing how to analyze your daily, weekly, and monthly expenditures and figure out if they are truly helping you progress toward the life you dream of.
Are you carrying a large amount of credit card debt? Do you spend money too frivolously on conveniences like a $6 coffee and fast food every morning? Are you paying for a cable subscription instead of just a couple of streaming services? All these small things can eat away at the money you COULD be using to invest in your future.
About Us:
We are real estate investors Tiffany and Eric Vogel, founders of www.onpurposeinvestor.com. Four years ago we began our real estate investment journey together after just one year of dating – before we even got married! We bought our first property with an FHA loan and zero equity. Each of us has a unique set of strengths that we bring to our partnership.
Join us each week for another episode full of tips, tricks, and methods to find your path and make it happen.
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Discussion points:
- Eric used to spend a lot on conveniences that were unnecessary
- Do you use your money as a tool, or is it a pain point?
- Asking yourself this set of questions in the check-out line
- How the purchase of our dream RV, a liability of consumer debt, can be turned into an asset by renting it out
- Before you begin investing, you need to take a hard look at your financial habits, debt, and other liabilities
- How the book, “I Will Teach You to be Rich” by Ramit Sethi, was a major influence on us
- How Dave Ramsey’s methods weren’t right for us, but they may work for you
- Another great book that influenced us was “Your Money or Your Life” by Joseph R. Dominguez and Vicki Robin
- Eric relied heavily on Robert Kiyosaki’s influence
- Transforming your liabilities into assets
- “The Subtle Art of Not Giving a F…” by Mark Manson
- It’s easy to get into a really bad position with debt these days
- Tune in next week as we discuss how some people are going broke just to be cool
Resources:
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