Why The Billionaire Lifestyle wanted you to experience Avery Breyer.
Avery Breyer grabbed my attention via Amazon.com with a series of book to educate the masses on Personal Finance.
Here are some of the reasons I had to interview Avery Breyer for The Billionaire Lifestyle Podcast.
From Avery’s website and own words:
I have a knack for managing my money and thinking outside the box to make the most of it., And I can help you to do the same.
My first home was paid off in less than five years.
Avery owns over a million dollars worth of investment real estate.
She has a credit score just under 800 (last I checked).
I earn about $60 per hour as a freelance ghostwriter, a new career I started despite having no experience, no contacts, and no credentials.
I’ve used credit card reward points to get round-trip business class seats for our family of four on flights from N. America to Asia twice so far, and it all cost me less than the cost of flying in economy.
Her powerful books hit home directly with The Billionaire lifestyle to help guide readers into the mindset for crafting a personal lifestyle of your choice. Positive personal finance is one of the most important contributors for being able to live a life of freedom from unnecessary worry and preparation for life’s unexpected surprises.
Best-selling author Avery Breyer provides personal finance strategies and lifestyle design. If you are looking for information to gain personal financial freedom but don’t know where to start, Avery Breyer has provided inspiration and a pathway for many to follow. Avery Breyer has documented her journey and methods of personal finance, passing on vital information for novices to the most experienced in person financial for lifestyle design to help individuals navigate the new economy of 2017. Publishing various book from personal financial management to income generation for everyone.
Avery has crafted a lifestyle independent of geographical location. At the time of our interview, she was residing in Mexico with her family. Because of careful financial planning and deciding to live each moment to the fullest Avery and her family lives in locations of personal choice for indefinite lengths.
Looking at a few of Avery Breyer’s titles gives you very simple lessons to be financially stable and financially free.
The first word that stuck me hard when speaking with National Speaker association member and financial adviser Martin Hurlburt was:
“Emmitt, Emotions Are Hazardous To Your Wealth!
The very statement was the one thing that drew me directly to Mr. Martin Hurlburt’s message. Listening to his lecture was an affirmation we all know in the back of our minds but tend not to adopt. It’s understood, many of us ignore the fact we spend our money to make us feel better, and there are a host of other emotional reasons money leaves our pockets. There is an addiction much of our society tends to sweep under the rug or just blindly look the other way and never address as a personal issue. That addiction is emotional spending be it large or small. There is a common bond each of us has in the fact we use money spending as a cure for so many things, in order to feel temporarily better.
Martin Hurlburt has identified key motivators when helping clients to with them on their financial journey. Before being able to formulate a financial road map there must be an understanding of the mindset of clients. Martin has identified key factors our population may be harboring preventing the arrival at financial freedom or security.
In his new talk: Financial Misbehavior: Why Smart People Do Dumb Things With Their Money. Martin spells out key points to help you navigate the journey.
A few of the key points:
Why emotions can be hazardous to our wealth!
Why money does not solve financial problems.
How our brains are wired against us making good choices with our money.
3 simple things anyone can do to make better financial choices.
How emotions impact our investment returns.
A few (7) Reasons why we buy to satisfy emotions.
Protecting our image.
Many times we spend money to protect the perceptions concerning how and what our family friends and everyone have concerning our persons. There is a stigma in much of the world of being poor, lower class or without means. The perception of financial insecurity by people outside of yourself is as old as the hills, but has little merit to a person who understands financial literacy and long-term planning. With a financial pan, and following a financial map will remove those temptations.
Spending Up To Our Income Level.
Many of us obtain raises throughout our working career’s. The majority increase our level of spending to match whatever upgrade to our check stubs gain periodically. Up spending is the norm versus the exception. The best practice is always to live below your income level and use compound interest with any new revenue we find in our lives. The American standard particularly before 2008 was to spend more money than we made in the form of credit cards. So spending your raise is not a good idea.
The Need To Feel Powerful.
Sometimes spending money make you feel like a Greek deity. It’s a fact when you have some cash or a new credit card, a certain perception of power come comes along. Spending money can make you feel like those people in the NBA player who just scored the winning three pointer as the clock hits zero to win the game. There is the other side of power spending its being broke. Being broke is not a power feeling.
The Need For Immediate Gratification/Boredom.
Sometime we just need to get our of a rut and spending money will fill that empty whole, briefly. We have all had those moments where it seems, there is something missing and an urge needs to be satisfied. A new TV, that new iPhone 50 just came out and you must have it. After time has passed we recognize the purchase was totally unnecessary and there could have been a better use for the dollars and time spent.
The desire to protect our standard of living.
I have made purchases in the past just because I had the old model of something, and that was just not right. Cars were the most notorious. Sometimes we make purchase “Just Because”, it’s what we do.
The Need To Overcome Past Problem.
People who come from meager situations and who have not gained a certain level of financial literacy. These individuals may have a tendency to spend money far less responsibly than other who were more stable earlier in life. Think about all the Football players, boxers who make huge sums of money only to end up broke. Often in this category one can hit several items in this list because of the lack of exposure to finances.
Convince oneself of worth.
Some people emotional spend money because they attribute their value is dependent of how much money they can spend.
When the election of Presidential elect Donald Trump unfolded before my eyes I was surprised to say the least. I could not understand how it happened, particularly due to the fact at the beginning of the campaign it was almost a running joke to many people who did not take Donald Trumps candidacy seriously. We all should know Donald Trump plays to win and for keeps. I felt the need to talk to someone who I felt safe speaking of politics and anything in life. So I called my friend from high school Mr. Robert Kamin, known to me as Bob.
I met Bob when I moved from the inner city of Detroit Michigan to a little town in the Downriver Michigan suburbs, where it was culture shock. I never felt that with Bob. Bob and I both had full-time jobs in high school to help support ourselves, so he is a man who understands value and considering we both have daughters we cherish, there is a deep common bond.
Here is my quick conversation with my Friend Bob about the recent election.
Enjoy the quick podcast and please leave a review or comment, as they are greatly appreciated
Let’s face it, most Americans use credit cards or personal loans as our emergency fund. In the event some life event occurs requiring a dollar amount outside of our normal expenses, stress levels and worry increase. The remedy, developed an emergency fund.
What is an Emergency Fund
An emergency fund is is exactly as stated. Funding for a situation requiring a larger than normal outpouring of cash.
Here are typical reasons for emergency fund.
Transportation problems (replacing a car or car repairs).
Emergency Housing repairs.
How not to use an emergency fund
Last minute birthday gifts and emotional or peer pressure
A new car when your car is repairable or functional.
The emergency fund for most individual is easy to implement. If you are employed and have a 9/5 job, a quick visit to Human Resources can place your emergency fund on autopilot. Simply having a specific amount deducted from your paycheck and deposited to a separate account will make your emergency fund grow on autopilot. A typical amount is 10% of your take home pay. 10% is easily manageable and adaptable in a very short period of time to your lifestyle.
Before visiting Your Human Resources or payroll department, open a saving account that is not the easiest to withdraw money. You don’t want to make it impossible to obtain the money because you may need to acquire the fund for an emergency. So do not, put the money in a CD, money market, or IRA, the money must be available.
Something to keep in mind when opening the savings account.
Do not get an ATM card for the account.
Make sure fee’s are at a minimum.
Have direct deposit.
Don’t have a minimum balance or withdrawal penalty.
Once a savings account has been set-up, and you have visited Human Resources, then forget about it.
3 times you should think about your emergency fund most is when:
You set the fund up
Increase the amount going into the fund.
Increasing money to the fund (When you deposit money outside of direct deposit).
Emergency funds are different from your general savings account, with a saving account being detained for long-term living purposes and retirement.
You may be wondering how much do you need for an emergency fund. The very minimum you will need 3 months of average living expenses with the goal of having a fund of 6 months of average living expenses. If you have 3 to 6 months of living expense will CHANGE YOUR LIFE and perspective about life and security.
To determine your three months of expenses, , go grab you latest three months of bank statements, six months would be better. I’ll wait……..
Now that you have your bank statements go through the necessary items you have paid during the period on your bank statements. Do not include unnecessary expenses such as diner, gifts etc. You will be looking only for important expenses such as rent/mortgage, home utilities, gas for your car, and other absolutely and essential expense.
Add those expense together from your collection of bank statements, then divide the number by the number of bank statement you used for your total. The result will give you a single month of average expenses. Multiply this number by how many months of an emergency fund you wish to own and have in you bank account.
You may be saying that seems like a big task, well, the important task is to start and place your emergency fund in Automatic Money Savings Mode . Every journey begins with the first step.
The second step first goal
The second step and first goal for your emergency fund is to accumulate an amount equal to a single untaxed paycheck, or $1000 . the reason I use $1000 is because that is an easy attainable number.
The first monetary one thousand dollar to entire untaxed paycheck will provide motivation to show you are making progress towards your 3 to 6 month emergency nest egg. It will also relieve some stress in your life.
You may be asking “what about my debts, I have to pay those too.” Yes you do, but look at it this way, yes you are making another bill, but you are paying yourself as any Billionaire Lifestyler would do. It is important to pay yourself before you pay everyone else, even if it’s only single dollar bill. Remember something is 1000% more than nothing.
Open a saving account that is inconvenient to access.
Setup automatic deposit to the savings account.
Put any extra money in the account to reach you $1000 dollars to dollar amount equal to an untaxed pay check.
Three simple steps toward The Billionaire Lifestyle. Since it is Tax refund season, use your tax refund to jump-start your emergency fund. With your tax refund, it is possible in some cases to hit all the goals of this blog post in one motion.