Written by: Dina Harbour
Women Obtaining Wealth
Women Obtaining Wealth Internet Talk Show
I can’t put my finger on it exactly but it is something special about going home. A home can represent a lot of things but for me, home is my security blanket. It is the place that I grew up, ran up and down the street, learned how to dance, skate, and ride my first bike.
My parents bought out home shortly after I was born. My Mom still lives there to this day and it makes me smile. Buying a home is something I always wanted to do. It just made sense to me. It took me 31 years before I could buy a home. Why did it take me so long to purchase a home when I wanted one so badly?
Well, no one taught me how to buy a home. I was employed and made a decent salary but I didn’t know all the rules and/or requirements. When I did find out what was required I hadn’t saved up enough money for the down payment. Plus I was carrying to much debt.
Later in my discovery I learned that ALL wealthy people own real estate. Most Millionaires make their money from buying, renting and/or selling this asset. It took me 31 years to own my first piece of property and it was the best investment I could have made back in the year of 2000.
Since then however, I’ve experienced and learned so many valuable lessons about owning real estate. Because of my knowledge, I became a Real Estate Agent and Investor. Also, in sadness I’ve watched good people loose their homes while the housing market took a crazy dive.
Regardless of these unfortunate situations people are still using real estate as one of their most popular vehicles to building wealth. They have the REAL information needed to make real estate much more than a home, but also a pertinent asset. Just because the economy is not in the best shape doesn’t mean that you shouldn’t own real estate. People still need a place to call home more so now than ever before. Do you have one to call your own?
Showing posts with label creating a budget. Show all posts
Showing posts with label creating a budget. Show all posts
Wednesday, December 30, 2009
Monday, August 11, 2008
Your Money Reflects Your Mind
Just last month I was teaching a budgeting class and one student bragged about how she was doing better than a friend of hers that made more money than her and had no children. This same student later admitted that she had purchased a new car and confessed that the payments were causing a burden on her finances.
As a Budgeting & Money Management Coach this information alerts me that something is going on with this individual. Since this wasn’t a one-on-one session I didn’t ask more questions, but I wanted to.
There is a direct correlation between how we think about ourselves and how we spend our money. I’ve noticed that many people buy things to “look” wealthy but financially they are a step away from bankruptcy.
Personally, I am on a mission to help other women educate themselves about money, but it is a very hard battle. When people are unwilling to change they keep the same belief system that they were taught years ago. They also don’t want to take the necessary steps to improve their lives until a crisis happens.
Maybe this housing crisis will be their wake-up call.
Dina Harbour, CEO
Budgeting & Money Management Coach
www.womenobtainingwealth.com
As a Budgeting & Money Management Coach this information alerts me that something is going on with this individual. Since this wasn’t a one-on-one session I didn’t ask more questions, but I wanted to.
There is a direct correlation between how we think about ourselves and how we spend our money. I’ve noticed that many people buy things to “look” wealthy but financially they are a step away from bankruptcy.
Personally, I am on a mission to help other women educate themselves about money, but it is a very hard battle. When people are unwilling to change they keep the same belief system that they were taught years ago. They also don’t want to take the necessary steps to improve their lives until a crisis happens.
Maybe this housing crisis will be their wake-up call.
Dina Harbour, CEO
Budgeting & Money Management Coach
www.womenobtainingwealth.com
Tuesday, May 13, 2008
Getting Out Of Debt: The Only Real Way To Gain Financial Freedom
Wealth is more than just about money but you cannot have real financial freedom while being buried in debt!
Back in 2004 when the housing market was booming, I sold my home. The first thing I did was payoff all my outstanding debts. It felt so good. My credit scores climb through the roof and I was able to purchase more real estate for a great price.
When I became a Real Estate Agent in 2006 I sold several homes rather quickly. But in 2007, I went from selling several homes a year to only 1. Credit became my friend again. I tried to make sure I didn't over extended myself, but I did. Knowing that I was heading for harder economic times, I began to tighten up my budget and cut back on some of my "now" luxury items. So I got rid of my second cell phone, fax machine line, cable premium channels, eating out and many other unnecessary expenses. It was tough necessary to get back into financial shape.
The next step was deciding that I "would not” under any circumstances accumulate more debt than I had too. David Ramsey talks about this in his book, “The Total Money Makeover”. So I put away a small saving for EMERGENCIES ONLY. Believe me, the emergencies happen, car problems, water leaks etc.
The debt that bothered me the most was my first priority. I did balance transfers and paid as much as I could. It was hard. But doing it made me feel empowered and smart. When I sent a payoff amount for one of my credit cards the light in my dark debt tunnel starting showing up and soon I was walking towards it.
I still have a ways to go. I am going to tackle my mortgage after the other debts are paid. I also noticed that money started coming to me without me fighting so hard to get it. Be smart and stop living above your means. Look at all the devastation of people losing their jobs, homes, and other valuables. Try to be wiser and start taking control of your financial future. Get out of financial bondage and begin to walk towards the financial light!
Women Obtaining Wealth is an on-line financial community and organization that I stated to help others with their financial journey. We offer a long list of on-line classes for our members, to join go to www.womenobtainingwealth.com. You can hear more about this topic and many others on our Internet Talk Show every Sunday at 9:00pm EST we even have a chat room for you to type in your questions at www.blogtalkradio.com/womenobtainingwealth.com or call (646) 478-5836!
Dina Harbour, CEO
Budgeting & Money Management Coach
www.womenobtainingwealth.com
Back in 2004 when the housing market was booming, I sold my home. The first thing I did was payoff all my outstanding debts. It felt so good. My credit scores climb through the roof and I was able to purchase more real estate for a great price.
When I became a Real Estate Agent in 2006 I sold several homes rather quickly. But in 2007, I went from selling several homes a year to only 1. Credit became my friend again. I tried to make sure I didn't over extended myself, but I did. Knowing that I was heading for harder economic times, I began to tighten up my budget and cut back on some of my "now" luxury items. So I got rid of my second cell phone, fax machine line, cable premium channels, eating out and many other unnecessary expenses. It was tough necessary to get back into financial shape.
The next step was deciding that I "would not” under any circumstances accumulate more debt than I had too. David Ramsey talks about this in his book, “The Total Money Makeover”. So I put away a small saving for EMERGENCIES ONLY. Believe me, the emergencies happen, car problems, water leaks etc.
The debt that bothered me the most was my first priority. I did balance transfers and paid as much as I could. It was hard. But doing it made me feel empowered and smart. When I sent a payoff amount for one of my credit cards the light in my dark debt tunnel starting showing up and soon I was walking towards it.
I still have a ways to go. I am going to tackle my mortgage after the other debts are paid. I also noticed that money started coming to me without me fighting so hard to get it. Be smart and stop living above your means. Look at all the devastation of people losing their jobs, homes, and other valuables. Try to be wiser and start taking control of your financial future. Get out of financial bondage and begin to walk towards the financial light!
Women Obtaining Wealth is an on-line financial community and organization that I stated to help others with their financial journey. We offer a long list of on-line classes for our members, to join go to www.womenobtainingwealth.com. You can hear more about this topic and many others on our Internet Talk Show every Sunday at 9:00pm EST we even have a chat room for you to type in your questions at www.blogtalkradio.com/womenobtainingwealth.com or call (646) 478-5836!
Dina Harbour, CEO
Budgeting & Money Management Coach
www.womenobtainingwealth.com
Friday, December 21, 2007
The Importance of Creating A Realistic Budget
I was interviewed on by AASAP radio by Alonzo Brown. He asked me a very important question, and I rushed to respond. His question was "What task could you give someone looking to start the budgeting process?" My answer was this.
When you are trying to generate a realistic budget, the first thing you should do is keep all of your receipts. Take a plastic container or shoe box. Keep it in an area that you see everyday. I recommend by your front door, bedroom dresser, or kitchen counter.
Every time you spend money on ANY item, make sure you keep that receipt until you can drop it off into your designated "box". Continue this process until the end of the month. At that time take out all the receipts and write a category on them. For example, a cup of coffee could be given the category of snack or food.
Total all these receipts and think about if these items are out of control or not.
To learn more about creating a household budget, send me an email on our website's "Contact US" page and I will send you a Newsletter on the subject.
Happy Budgeting
Dina Harbour, CEO
Women Obtaining Wealth
www.womenobtainingwealth.com
When you are trying to generate a realistic budget, the first thing you should do is keep all of your receipts. Take a plastic container or shoe box. Keep it in an area that you see everyday. I recommend by your front door, bedroom dresser, or kitchen counter.
Every time you spend money on ANY item, make sure you keep that receipt until you can drop it off into your designated "box". Continue this process until the end of the month. At that time take out all the receipts and write a category on them. For example, a cup of coffee could be given the category of snack or food.
Total all these receipts and think about if these items are out of control or not.
To learn more about creating a household budget, send me an email on our website's "Contact US" page and I will send you a Newsletter on the subject.
Happy Budgeting
Dina Harbour, CEO
Women Obtaining Wealth
www.womenobtainingwealth.com
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