Lately, I’ve been taking Uber and Lyft to the airport for my work travel. It gives me 40 free minutes to relax, work or have random conversations with the drivers. One recent chat with a Lyft driver reminded me that loaning family money can cause more harm than good.
A few days ago, I pulled up the tax detail on my paycheck to see how much I was paying to Uncle Sam. Since I don’t get paper checks anymore as it’s all electronic through my job, I tend to forget how much of my hard-earned money is going to the government.
When my daughter Zoey was born we met with a financial advisor to discuss her future college needs. He advised us that for Zoey to attend an in-state college like Michigan State University, we’d be looking at a price tag of about $200,000. 4 years of college would cost us $200,000!
When our daughter Zoey was born, we purchased a boatload of baby products. Some of those items were extremely helpful and others not so much. Quite honestly, we were new parents and had no clue what we were doing, but we definitely learned quickly.
Mortgages. Electric bills. Unexpected repairs.
Owning a home can be quite expensive. Every day it seems like there is a new bill to pay or something to fix. Didn’t someone tell us owning a home was a great investment at one point in our lives? We are spending so much to maintain this “asset” that sometimes it doesn’t feel like it’s worth it.
I’d like to flip the typical script on costly home ownership and talk about ways that this asset of ours can make US some money.
Lately, the shows and interviews I’ve been doing have been focusing on decreasing your expenses and increasing your income. When we make improvement in these two areas, it’ll allow us to become experts in increasing our net worth and our opportunities for financial independence.
Today, we’re diving into increasing your income through real estate.
Will this winter ever end?!
I don’t know why I’m surprised at how long this winter has lasted. I’ve lived in Michigan for over 25 years now. You think I’d be used to it. This is just the time of year I go a little stir crazy!