A talk with mom

The past few days I have been on vacation in Northern Idaho to see my parents who live in the Silver Valley (about thirty miles east of Coeur d' Alene or sixty east of Spokane Washington). If I would have come a week sooner I could have skied at Silver Mountain which just concluded its longest ski season ever on June 1st.

I am fortunate to have a great relationship with my family and these visits are always a much need break from the busy life I live as an real estate agent in Long Beach. (I thought I would add a picture of some snow... from my homeland... I use to ski here as a young adult.... but the snow is now gone).

However that being said, the discussions are always about money and how I may or may not manage it... While my parents come from a more liberal outlook their outlook about money is very conservative, in a good way. She worries about debt and how each dollar is like a big stone around your neck and planning for the future. For those of us who are self-employed we realize this more that our counterparts that have a nine to five job.

Real Estate has many great benefits... the freedom to make your own schedule... it give us more time, or so people think. Taking a break is very important to our mental health and for our clients... sometimes they just do not understand that you need a day off and you might even loose a sale.

But what this blog is about today is the fact that many people for one do not understand how to manage money, and those in my business that take advantage of them. I work with many first time buyers and one of the things I like to tell them is this... Find a mortgage person you feel you can trust. Second have them explain the loan you are applying for and then you need to explain it to me. If it makes sense then things are probably fine... if not we have a problem. In the years of being a real estate agent/broker I have seen many mess's people have gotten into.

When making a decision this important you need to do the math. A interest rate of 4% sounds great, but when most of the people are paying 6% there is a problem.

So, take moms advice... Do the math, watch your spending and save.

Then take mine... take some time off enjoy life and be close to those you love. Jeff