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Thank you!

Keep it up! It’s a major accomplishment.

Glad it was useful to you!

Thank you for affirming this video! God’s been encouraging me more and more to be clear about His position in my life. God bless you!

It's one of my favorite quotes and it applies to so many aspects of life! Thanks for commenting.

@@PictureItPF 🌻🌻

I’m glad it resonated with you!

Thanks for watching and commenting. It’s appreciated!

This isn’t true. Many people use credit cards while having the cash in reserve to pay it off asap. I recommend clients maintain a credit card for sinking funds purchases especially travel. Save for your trip, then use your credit card while traveling, then pay off the card when you get home. This gives increased theft protection and ease of budgeting all those transactions. Credit cards are a financial tool.

@@PictureItPF I see I see would you be willing on talking to me maybe you could change my mind on that since your more knowledgeable on the topic than I am , I'm assuming your some time of financial cosh or advisor or whatever lable they use. It would be nice to talk to someone about these types of things to get another option. You could say I'm on Dave Ramsey's baby step 3 right now. So let me know the info on how to book an appointment if your willing on doing that. That would be nice

@@nathandennis8078 You bet. You can find time on my calendar here: calendly.com/pictureitpf/clarity I book about a week out.

@PictureItTina alright fair enough I scheduled it

Yeah, you're talking truth. I should do an update on this video as I recorded over a year ago. It has been getting harder with everything going up and we're needing to make serious choices on what we value and how we want to live since income hasn't increased at the same pace. I feel you on this one!

After you complete FCMT, you are given the opportunity to join their Preferred Coach Referral Program. There are several features and they do send leads (based on what others have told me). Otherwise you get leads through your own marketing efforts.

You’re mistaken if you think high income earners aren’t in debt. I agree with you tho that there’s no problem with the course. But there’s also no problem with who I serve or how I serve them. And you’re also right that helping folks find hope is the most rewarding part of what coaches do.

I create my titles based on what I’m addressing. I get approached by a lot of prospective coaches. Many know that I went through FCMT and want to know if I’m doing Dave’s referral program. Hence the video and the title.

Love it!

I have a video out here somewhere that talks about how not to buy a house...and it's the story of how my husband and I bought our first home. Let me just say three phrases: first/second mortgage split, interest-only, ARM with balloon payment. Good Lord, that was a hard time.

I love stories like this. I also love your RUclips handle. I just subscribed!

I love your page/job description. I do all that work for our family business. I have always imagined I would love to help others get financially organized. No time to start that kind of project for a few more years though. I wonder how frustrating it is if people aren't willing to live on less than they make OR to start earning more.

This comment made me giggle. Glad you you are doing so well!

I am SO EXCITED for you and your cash flow that is amazing. You are so close to passive income covering all of your living expenses that I'm positively thrilled for you. Keep up the amazing discipline that got you this far!

Thank you ❤@@PictureItPF

Yes! Paying off your home allows you the freedom to make career changes. This was a giant motivator for us to pay off our home.

It's working for me. I still appreciate Dave and reference his process with some of my clients. However I don't feel beholden to the baby steps.

Mathematically you're right. But for a lot of folks it's more than a math question. It's an emotion question. Do you want to be free of the mortgage? Do you want to have more discretionary money in every month because that monster payment is gone? Do you want the confidence that if things go sideways as long as you can cover property taxes and insurance, your home is safe? I've done enough coaching now to have seen business revenues decrease, job displacement happen, and unexpected medical expenses that result in big bills. Having the knowledge that you own your home outright can bring a lot of peace - even when it means foregoing a growing retirement account.

wow wow wow! Way to play the game and win!!

Yeah it seems insane how it all worked out. I didn't have to take outrageous risks and was fortunate to hit the markets when they were rising by 20%+. Live on less than you make (50% less in my case) and save/invest the rest. Not having kids made a huge difference of course.@@PictureItPF

This comment brought a smile to my face. Well done! I’m happy for you.

Very inspiring. Thank you for sharing!

Two ways I recommend. 1. What you need to live on or 2. The amount that permits you 2-4 months worth of paychecks so that you have cushion in there while dealing with variable income.

Agreed. Action is better than stagnation! Once you stop or stall, it’s a lot harder to get going again.

Hey there! So once our house was paid off we purchased an investment property. We took out a mortgage for that investment property and then fixed it up and rented it out. Once that was paid off (took about 3 years), I left my corporate tech job to be more present with my family and started my own business. Now I do financial coaching and bookkeeping for small business owners.

@@PictureItPF that sounds great I'm saving for another property so I can live in that and rent mine out so it pays the new mortgage hopefully

​@@peelyo94 Keep at it! We have no regrets...I hope it all works out for you.

When I coach my clients we try to base their decisions on two things - what are their long term goals (looking 3+ years out) and what do they value most. Between these two things, the best option for them usually comes to light quickly. Given how badly I wanted to leave my corporate career, and my strong desire for financial security - paying off the house made the most sense. I suspect that if we reviewed your values and long term goals, the decisions you made will support them..and if not, it's a great time to pursue that exercise.

I'm not an investment advisor and I err on the side of caution. What you're suggesting feels like a big gamble to me. I say this because we purchased a home in 2007 with an interest only loan. Then in 2008 the market tanked. We were upside down in that house by tens of thousands of dollars and any investments we made in the stock market did absolutely nothing for YEARS. Now, if we had kept investing and held on to that house for 30 years we would have ended up ok. But life moves and flows and changes. It hasn't been 30 years yet and we've already lived in two other states, had multiple job changes, and started to raise a family. I guess what I'm saying is your plan seems pretty smart on paper, but leaves little imagination for the roller coaster of life.

And thank you for watching and commenting. Hopefully you're getting through to more and more of your friends!

I love Germany. I lived there from the 2nd through the 5th grade, and I can see the truth in what you are writing. Similar things are happening here in part the US although many people are homeowners here. There is a desire to "live for today" with less consideration about what that means for the future. I laughed when you mentioned living in the Alaskan bush - yes that would change things! I haven't done a video on this yet, but even moving from the Denver metropolitan area to a more rural town has changed the way I look at money. I used to always want luxury handbags and a nicer car and to look like I had money. Now I'm much more content. Although much of that change can also be from becoming a Christian and focusing less on material things and more on spiritual things.

hunny don't go to deep in it. I work since 27 years for the christian movement and I have that daily reflex to crawl back to the surface. God bless you. @@PictureItPF

I'm always amused by the comparison between financial fitness and physical fitness. A few months ago I heard another RUclipsr say - you'll get into lose weight and get into shape when pick a diet and stick with it. They all work as long as you pick on and keep at it - and do not keep changing the plan. We all have preferences, but the bottom line is to find a system and stick to it.

We went a different route. Rather than save for another house, I left my corporate job to start a business and be more present with my family. Once my business brings in income like my corporate job did - we'll be able to invest more.

Love it!

Inflation decreases the value of money. Therefore, you're right that you are paying "less" than what you would have paid pre inflation since the dollar is worth less. The biggest issue is that during times of high inflation there is a lag between cost of goods increasing and rates of pay increasing. For me, debt repayment (including the mortgage) has always been about risk management - I can more easily navigate the roller coaster of life.

@@PictureItPF similar approach to me. Agree wages nearly always lag inflation 😢 Here in Ireland inflation is v high, almost double that of US and much higher than rest of EU too. Wage inflation is here too, but obviously nowhere near levels of inflation. Anyhow it's something I rarely hear people talk about. The positives of inflation on mortgage.

@@mryan4452 It's an interesting take. I suppose a lot of us get our blinders on at times. Now the thing I have heard others say is that they are slowing down their mortgage repayment to take advantage of investing or to further build up savings. So much of it is about educating yourself and stewarding your money the best you can. Also - sorry to hear that Ireland is getting git so hard with inflation!

@@PictureItPF many are investing. The options I see for me are either (1) investing, but only via a pension. Not a pension fund, but my own investments via a pension trust. Paying into a pension I obviously won't be taxed at source or when drawing down. Otherwise outside of the pension I wouldn't tend to invest, I'd pay down the mortgage, too many charges and taxes when investing so mortgage payment more attractive. (2) Alternatively paying down my mortgage. But the significant inflation effect is making this less of an attractive option at the moment to be honest. And paying down would be only from the existing money I have in savings (excluding the money I would keep for reserve rainy day fund) which is being eroded by inflation. It would not be from my weekly paycheck going forward, that will be divided between paying into my pension investments and the reserve fund.

I'm glad it was helpful to you!

Love it! My kids really want us to get a Tesla, but I remain a Honda girl. :)

@@PictureItPF I have owned a many Hondas and they are great cars. Sad that they are dragging their feet on electrification. Sometimes changes is hard.

Thanks for watching!

Yes! This is the truth of it.

I don’t consider money in an IRA as available for paying off a home. I would never suggest or recommend that. The penalties and taxes are definitely a deterrent. To pay off your house early use liquid money. Paying off your house (for me and many others) is not about rate of returns. It’s about truly owning your home. It’s about knowing that if you lost your job, the bank can’t foreclose on you. For me it was about knowing that my kids have a secure roof over their heads. And lastly, it’s also about knowing that I require much less for retirement savings when I don’t need to plan on a mortgage payment. Those were my motivators, and I am sooo grateful that we made this decision. Maybe you could take time listing why you do want to pay off early, and why you don’t want to.