Affluent but Frugal

Let me say that I am not a landlord expert but I am often shocked at the horrendous advice offered up as wisdom on landlording forums. Don't get me wrong, networking groups (online and in-person) can be a great resource as you try to learn the ropes but be wary of some advice - even if it's what you want to hear! So here it is, the worst advice you can take when starting your landlording journey and my alternative advice! Photo by  PhotoMIX Ltd.  from  Pexels 1) Get an FHA loan, even if you're not going to live in the house. When someone is trying to buy a property but doesn't have enough money to put down, "get an HA loan" is often tossed out but this kind of loan is only for owner occupied properties and when you apply for it you're agreeing to live in the house for a certain length of time. I am shocked when I see this suggested to people online, not only is it mortgage fraud but those suggesting it are pretty cavalier to suggest it ...

It can be shocking to hear that 78 percent of Americans are living paycheck to paycheck. Why are so many people in our country broke? Including many with high incomes? Understanding why you are poor is the first step to breaking the cycle of paycheck to paycheck living. Here are 5 reasons you're poor! You don't budget or track your spending. If you want to save more or spend less, you need to be aware of where your money goes. You might think you know but tracking your spending for a few months can be eye opening. I strongly recommend Mint.com  for tracking your spending, it's free and easy to setup. You can link all of your accounts and it will auto-categorize your credit and debit card transactions. It's nifty. You never eat at home. A lot has been written about the "latte factor" and how a daily trip to a certain green goddess impacts your finances but most people seem to still be unaware how much they eat out and the financial impact. We hav...