Blog Challenge: Eric P.

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A PERSONAL MONEY RELATED BLUNDER

Saving money can be a hassle RIGHT? What if you took the little money that you spend on YOU and find ways to make it grow? Sounds SCARY huh? On the other hand, when you understand the concept that “It takes money to make money”, you will be fine! So there are three mistakes that I have made in the past that I will no longer do! “EXPERIENCE IS THE BEST TEACHERS RIGHT”?? ☺

CARELESS MISTAKE #1 – Living on campus too long! ☺

Like most incoming freshman, living on campus was the thing to do! Living in the Towers Residential Suites was one of the best things I could have done! But just like the LOVE of anything is always too much. And do not get me wrong, I am a firm believer that every college student should obtain the college experience. You probably already guessed what I messed up on huh? You guessed it, I lived one year too many in the dorms which accumulated to my added debt at Wayne State University. Had I took that money and found an educated way to invest it; I would be thanking myself to this day!

CARELESS MISTAKE #2

As many of us know, or should know, we are in a housing bubble situation. A year of living in the dorms could have been equivalent or cheaper to buy a piece of property that could have earned me money to this day, at least a monthly income for me. The only thing that would be needed is renovation and getting the property up to code.

When the economy becomes tough from a macro stand point, this is the BEST time to invest and increase in real estate. For anything or anyone that has hit rock bottom, the only way is UP! In some cases, rock bottom can be a beautiful thing (depending on how one looks at their situation). It might not be such a bad idea to buy, sit and sell. When the economy starts to pick up, property value starts to rise. Sound like an excellent pay day to me!

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CARELESS MISTAKE #3 – Three Words 

CHOICES, CHANCES, CHANGE

When you make a choice to take a chance your perspective seems to take you to places you cannot fathom. This pretty much falls under taking a risk. After doing research on your dreams and aspirations, a wise man told me to acquire a mentor that does exactly what I want to do. However this is a mental game. When you make that decision to invest into yourself, other people tend to take notice. WE ALL LIKE TO PRESENT OURSELVES IN THE MOST PLEASANT WAY POSSIBLE RIGHT? We all have down time to spend our time the way we choose. However, I am sure we all do!

SUMMARY

To sum up everything, in a general sense, I should have invested more into myself as a freshman in college. On a macro level, owning real estate, making a choice to change my way of thinking for better and being ready for EXCELLENT change! I hope you all enjoyed this message/blog!

See You Next Time Guys!

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