26 October 2007 No Comment Print This Post  Email This Post

The world series is on, starting with a record rout when the Rockies got their backsides handed to them by the Sox in game one. This has been a long week for me, but I’m proud to say that my condo is under contract as of this week and we’re scheduled to close in about 20 days. I was extremely lucky to have a buyer fall in love with it and buy it after barely a week on the market. That is insane in this real estate recession we’re in. I can’t wait until we close. That puts me in the position to pull the trigger on a few investment properties I want to get into as well as a home with my girlfriend. You don’t really notice how much cheaper it is to live at home until you go back. I’ve been back home ever since I started cleaning out my condo. After selling the place I will go from having to pay a mortgage every month, to earning money! This is because the money will sit in an interest bearing account before I buy replacement properties. What a nice change!

Anyway, lets see whats happening around the web.

Frugality is NOT a dirty word. JD explains that frugality is a necessary practice to achieve wealth. After all, theres only two main ways to get rich. Earn more or save more. Lately there has been a backlash on being frugal, which I find rediculous, but I do understand that it stems from human nature. Think about when you drive. People driving slower than you are idiots and people driving faster than you are maniacs. Only you are driving perfectly, or so you would think. I believe people who lash out against frugality online are in denial with their poor spending habits. They think they are right those who try to be frugal are cheap and are missing out on life. I don’t think they’d be saying all this 20 years from now.

8 Job Tips For New Graduates. Great tips here. I’d like to point out number 7, which is get used to grunt work. I think many people my age, who are just coming out of college have a sense of entitlement, like the world owes them something. They think that by earning a college degree they are going to land some kind of dream job without having to put in old fashioned hard work. Don’t fall for that trap. Stay humble and work hard. Show your supervisors why you deserve to be promoted in the future. Work as if you owned the company.

You Don’t Need To Save Money, Just Use the Equity In Your Home. Jeremy points out the dangerous positions many people are putting themselves in because they are influenced by advertisements and clever marketing techniques. Home equity should not be touched in most cases. Its your residence for goodness sake!

Effect Of Score On Mortgage Rates and Monthly Payments. Jonathan does a great writeup as he investigates the long term effects of your FICO score on your mortgage situation. Seems like 700 is the benchmark you want to get to if you’re not already there. I still need a bit of a push to get to that level.