What To Know About Collections

In 2005 I started working for a mortgage company as a wholesaler. My job involved calling on mortgage brokers and trying to get them to write loans through my employer. It was an eye-opening experience for a number of reasons: I realized that there were some really credible, integrity filled people in the industry and there were others who didn’t fit in either bucket. It became painfully obvious that a majority of the applicants had credit that needed serious repair. I learned SO MUCH about debt, collections, and adverse entries on your credit report. One of the most common items …

Build A Bigger Life, Not A Bigger Lifestyle

About three years ago I was delivering a talk to a group of young professionals about pursuing that which fired you up. Whether it was a hobby, a business, learning a craft or musical instrument, my message was they should be pursuing something that they loved to do. One attendee piped up in the middle of my talk and said, “but what if that isn’t possible?” “Tell me more…” was my reply. “Well, what if financially you just can’t afford to go do the things that fire you up inside?” (This is obviously not an abnormal thing, for people to …

5 Steps To Debt Payoff This Year

In a coffee meeting just the other day, my friend and I were talking about what we were excited about going into the New Year. His comment surprised me because he confided, “I’m finally going to payoff my debt this year.” After some high five-ing and “that will feel great” and “yeah, won’t it though?”, I asked him what kind of debts he was about to payoff and why he’s now able to do it. He said he would like to think that his mortgage debt was in the mix but instead he was focused on credit card and student …

Will You Be Prepared Financially When Accidents Happen?

“Are you alright?” my friend Clint asked me with a panicked look in his eye. I looked down at my hands, turned them to look at my palms, and saw no blood. After moving my legs and a quick check for pain I replied, “I’m okay. Are you okay?” “Yes. We have to get out of here. Turn the car off.” Looking back, I’m fairly certain I was in shock, as I put the Jeep in park. “Adam. TURN THE CAR OFF.” He was already unbuckling his seat belt and attempting to crawl into the back seat of the Jeep …

Mortgage or No Mortgage: Why Your Personal Financial Plan Is Crucial

Whether or not to pay off your mortgage is a very individual decision that is based on a number of factors. My sister and I were having a conversation not too long ago about mortgages as she and her spouse were refinancing their home in Northern California. I was throwing ideas out to her about keeping the original first mortgage they had in place and blasting away the second using a debt elimination tool like Shred My Mortgage. The first mortgage had a healthy balance but a relatively low interest rate and the second mortgage was hovering around $40,000 with …

Should You Do Allowance With Your Kids? Here’s What We Do…

To pay or not to pay, that is the question. On the heels of my TEDx London Business School talk now on YT, I’ve been getting lots of questions about how we do allowance in our family. And truthfully, the answer would’ve been, not well… up to just a couple years ago, but in preparation for my talk I dove headlong into allowance programs that work with kids, how much to pay, what to pay for, if chores are tied to pay, etc. But before I dive into the mechanics of how and what we pay our kids, let me first …