Christian Real Estate Professionals

There is a buzz out there to listen to today's Dave Ramsey show (Thursday 3/26). Nobody really knows what it is except that the announcement is called, Town Hall for Hope.

Click on the icon above to find the radio station near you.
2pm - 5pm EST

The buzz is that Dave Ramsey may address the nation about the economy and provide biblically based solutions facing today's America's family. Not a White House solution, not a Congress - I've got to shine my name solution. Just one simple man with some common sense.

If you are on Twitter, you can follow these Dave Ramsey's Accounts:

DaveRamseyLive

TownHallForHope

Search Twitter for Hash tag for Town Hall for Hope ((#THFH)

The website for the buzz: Town Hall for Hope. 

Please feel free to re-blog/ forward this to your Dave Ramsey fans out there. Let's get the word out that we dont need the Government to solve our problems. We can take care of our own. Just quit taking our money.

Proudly shared with you by a huge DAVE RAMSEY fan.

Note: The graphic above belongs to and is used with permission by the Lampo Group and the Dave Ramsey website to promote the organizations.

Keep your calculators and spreadsheets away. If you think I have something brilliant to share this week, you might be disappointed. As you have known me by now, nothing that I will share with you will seem to be too brilliant until it would knock you off the chair you are sitting on. I'm always about keeping it simple. So, this post is not about interest rates and mortgage calculations.

I read this post, Where Dave Ramsey and I parted ways this morning and it got me really edgy. Good edgy I guess. If you follow my blogs at all, you know I dedicate a life to assist people get out of financial bondage. I believe you cannot truly became what you are called to be until you first release yourself from debt.

In the post above, this is where the author and I have a respectful disagreement:

• In his example of 2 debts ($2,000 HELOC loan at 6% and a $10,000 car loan at 5.5%), he suggests that it is a better idea to pay off the car loan first since the HELOC loan is tax-deductible. I respectfully disagree.
• He differs in Dave Ramsey's opinion on investing 15% in retirement across the board. He feels that the older you are, the more you should sock away for retirement.

So, here's my commentary based on what the author has to share:

Dave Ramsey teaches in Baby Step 2 to pay off the smallest debt first, not the highest interest. It's called the Debt Snowball. You pay off the smallest debt, get that out of the way, then transfer the "momentum" of the last debt paid off, to the next debt. Over time, you gain enough momentum to pay off ALL your debt.

In Step 4, Dave Ramsey teaches to invest 15% into retirement savings. He doesn't want everyone to have a paid-for house but nothing else to show for. Based on what I know about general America (this is not from studies or surveys), that most America don't save enough for retirement. Many people have to work in their "Retirement" age. My friend at my corporate job once told me that I would find his corpse on the desk one day. There is no retirement for him. My rebuttal for the author above is this: We don't necessarily need to play with any type of investment sophistication. After you have a paid-for house, you could invest everything in your retirement if you want to. I'm not worried about the future if I have problems TODAY.

If getting out of debt is about head knowledge, we probably will not be in the credit mess we are in. "Buying now even if I didn't have the money" mentality has not served anyone any good. It's just sad that too many people have believe that borrowing your way through life is the norm and it's acceptable. Again, if getting out of debt is about mathematical equations, how could anyone agree to pay 18% in credit card interest rates in the first place???

Forget FINANCIAL SOPHISTICATION. Instead, lean on discipline to see you through the finish line (out of debt)! It requires hard work and persistence. It requires saying alot of NO(s) before you can one day say Yes again. Did you hear me Loud and Clear?

One thing that people often fail to accept: Life always happens. You had great intentions to pay off your 0% balance transfer credit cards and to pay off the couch you bought at no zero interest for 3 years. You really believed the Realtor(R) and Loan Officer when they said you will have an increase in salary in the coming years, so it's okay that you sign an adjustable interest rate mortgage today because you will be making more. But as far as I know, everything has gone up in price except for salaries and wages over the years. The mortgage interest rates are also adjusting upwards coincidentally. I'm sharing this with no heart to push you down further than you already are. But life do happen and it always does. I have seen enough in life not to count on things that could/would happen. I make provisions on what I have TODAY.

Getting out of debt is about BEHAVIOR MODIFICATION. It's about changing the way you think and the way you live. Stop analyzing your way out of debt with financial calculators. So many parents tell me that they are away from their kiddos too many hours in the day. Hence, working an extra job is not feasible. My thoughts were, So you rather fumble through life in debt the rest of the way instead of tightening the ship, make very painful sacrifice for a year or two and never have to go through the pain of not seeing your children again? There are some potential jobs: delivering newspaper at early bird hours, or cleaning offices at midnight that you could possible do without taking time away from the children. Please don't tell me you need your precious 8-10 hours of sleep then. For single parents, I feel for you. But if you would make some short sacrifices in your life, you don't have to live like that forever. Get help from family and friends to watch the kiddos. If you believe that you are doing good for the kiddos, this sacrifice is only temporary.

Drop your child-like mentality and realize that pain doesn't have to be forever. But if you choose to meander your life away, you will always live a life full of mediocrity. I know you are better than that!

It's not about the interests, it's not about the tax deductions and it's certainly not about sophisticated finances. It's about going back to the basics. Living below your means. Sacrifice a little for a while so that you can have a full life ahead of you like it's intended to be. It's about changing the way you look at finances and it's about changing your lifestyle.

Some awesome Dave Ramsey quotes that I enjoy:

• Live like no one else, so later you can live like no one else.
• Act your WAGE!
• You may not be what you drive.
• I make myself RICH by making my wants few.

I'll get off my soap box now and actually sell real estate this week.

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I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me at your earliest convenience.

I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. Find out how past clients are on their way to the closing table with this different proposition to home selling.

Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Copyright © 2009 by Loreena Yeo (3:16 team REALTY).  If Finances were about head knowledge, we wouldn't be here in the first place.

When I first heard of Dave Ramsey, it was Spring of 2005. He was screaming on the radio at this poor little lady about borrowing money. At this time, I believed in the Principles of Using Other People's Money and It's better in my pocket than in yours. So, needless to say I quickly turned to another station. 6 months later, I stumbled onto Dave Ramsey again. This time, he was calming and the advice he gave this man about whose debt to pay back first would have been exactly what I would do too. So, he's not too bad after all.

I continued to listen, then I borrowed his book from the library. By this time, God has prepared my heart through Pastor John's (senior pastor at my church) sermons about financials..... Oh boy, it wasnt as rough as I had imagined. I wished we had found this book right after college because we have always wondered which paths/ steps to take.

Just like any new college graduate, we defined success by the stuff we can buy with our money. We didnt know any other way because we werent believers back then. Prior to TMMO (Total Money Makeover), we have always lived below our means. We never had a credit card balance, no school loans - just 2 car loans right after college which we paid off 2 years after we graduated. I could say that we were on the other end of the spectrum and sometimes we feel that we have worked ourselves too hard not to enjoy life a little. Finances for us was a very high priority - in fact for me, it was my light source. It makes me happy and sad. It makes me laugh and cry. Because we are here in America far away from our family in Asia, finances became our "security" because our family - if we ever needed help, they were 2 days plane right away. I dont want to admit this, but I was letting this world conform my being.

We officially got onto the Dave Ramsey band wagon in August of 2005. Our lives have dramatically changed since then. For some people, learning the TMMO ways may include tightening your fists towards finances. For others, it could mean loosening life a little. For us, it was more of a priority alignment - budget intended.

We have a budget, we use cash only and we discuss finances together. TMMO have taught us skills to handle our finances. More importantly, God taught us to align our priorities according to what is important to Him. Our most recent endeavor is to answer God's calling and serving Him through my business. Living on one income is not as scary once you see how God provides. I know it may be easy for someone to think, "It's easy for you to say".... and I know that. It is easy only when you align your priorities. Know that you may not hit every single item on your list and that's ok too.  Personally, I feel like doing TMMO alone without a purpose in mind may help do some financial clean up, but it is with God's financial principles that we feel we are beginning to live life according to His plan.

I cannot help but to reiterate Romans 12:22 because as a new Christ follower, I wanted to know what's God's plans for us are. It was right in front of me and it didnt click until just recently: So, here is my version of Romans 12:22....

Do not be defined by the standards of this world, then you will know what the will of God for your life is.

So, what I personally got out of TMMO? It was simple financial principles but more importantly, I learnt how to balance between life and living.