Episode 4: Is Being Cool Worth Being BROKE?
Is being cool worth being broke? We humans have a natural itch to get the greatest and latest things. We want to feel part of a community and to impress others, even if that means getting into debt for years to come. But, is it really worth it? Today we are discussing how to stop jonesing around, and the mindset that millionaires have when it comes down to purchasing because novelty isn’t the only thing that matters.
Are you unable to hold the line when it comes to buying the newest gadget? Maybe instant gratification is getting the best of you. There are people willing to spend insane amounts of money they don’t have just to get that new item “right now”. They just created negative equity, since most consumers' goods don’t last, but that credit card debt sure does! So in this episode, we also go through instant gratification and its antidote, you don’t want to miss that one out!
“We buy things we don't need, with money we don't have, to impress people we don't like” – Dave Ramsey. We all want to fit in, to be cool: you may not be aware, but the people we surround ourselves with influence how our thoughts and beliefs are shaped. So, in this episode, we also discuss the importance of having a network of like-minded friends to pursue your “why” and be able to push through grind and hustle with a smile!
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
- Is being cool and having the newest things worth being broke?
- How your itch for the newest stuff can create a snowball of negative equity – Eric’s Camaro experience.
- Always ask yourself: are you buying out of necessity or just for appearance? – Tiffany’s perspective.
- The things you own don't dictate who you are.
- Eric's old truck and how he beat Jonesing with an easy-to-follow strategy.
- How the book “Who Not How” shifted Tiffany and Eric’s mindset to pursue what they want from life.
- Do you really need that new phone? How to approach the crazy phone industry.
- What's motivating your buying decisions? Are you shopping to reach your “why” or just to feel better?
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