04/24/2023
UMass Boston, Thank you for having me. It was a pleasure speaking about Mortgage Before Marriage, my failures, and my success. Thumbprint Realty will continue to play a massive role in shorting the wealth gap.
Income/major minus lifestyle is so essential for our kids to understand. We push them to go to college but fail to ask what kind of life they want and how much it costs.
Mortgage Before Marriage has some critical question parent should be asking before sending their children off for college. I will talk more about this tomorrow at Northeastern University
Income minus lifestyle
Income vs. Lifestyle Importance.
Helps in achieving financial goals: When income exceeds lifestyle, you have money left over to save, invest, or use to pay off debts. This extra money can help you achieve your financial goals, such as building an emergency fund or retirement savings.
Provides a safety net: If unexpected expenses arise, having a buffer between your income and your expenses can provide a safety net. It can help you cover unforeseen costs without relying on credit cards or other forms of debt.
Reduces financial stress: Living beyond your means can lead to financial stress, negatively impacting your mental and physical health. Keeping your expenses below your income can help you avoid financial stress and give you peace of mind.
Enables you to pursue your passions: If you have money left over after covering your expenses, you can use it to pursue your passions, whether traveling, starting a business, or following a hobby.
Allows for giving: Having money left over after covering your expenses also enables you to give to others, whether it's through charitable donations or helping friends or family members in need.
Provides flexibility: If you have a financial cushion, you have more flexibility. You can take risks, pursue opportunities, or make changes without worrying about the economic consequences.
.
