I started my journey to financial independence with Rich Dad Poor Dad. That book showed me the light.
Of course, my own mother is pure financial genuis, having saved so much money that my family went from near rags to being well above average - the American Dream.
As far as my desire for wealth - at one point only a little while ago, I thought that my dream was to become a realestate tycoon and accumulate riches beyond belief. However, thanks to certain people in my life whom I became acquainted with, I realized that is only a vehicle to freeing the financial component of my life. Digging a little deeper, I realized my real passion lies elsewhere. I am working on that.
Still, I mentioned that to clarify that this is not my life. But, just because I'm very concerned with my financial future and starting to work myself out of the rat-race at age 21, it does not mean it has to be my life; I've just got my blinds open.
This thread will detail my steps to buying my first property.
I think making a thread, helps somewhat as a reminder to keep myself on track. At the same time, I hope to show others that if I can do it, so can you. Why?
Because, first off, I have no credit whatsoever. No credit card, no loans, no nothing. I'm starting from absolute scratch. I just got a job last month, and opened a bank account only a few weeks ago. At the moment, my parents pay for my tuition/housing, though after this term I will be living at home and paying my own tuition/expenses. My parents have offered to buy me a car, buy me a house, etc; however, I would actually like as little help (or no) as possible. The advice I have received from lenders is that I should start building credit, and that is my first objective.
Along the way, I will detail everything from building credit, my approximate monthly income and how I invest it into stocks, etc. I hope to purchase a $90,000-$125,000 property by October 2006.
Objective #1: Build Substantial Credit
Note: I am also posting this thread on a 'financial' board, but I figured that since I have been here many times before, and know for a fact that there is much interest in this topic (or at least I think), that I would copy my posts here as well.
In fact, I welcome you to join me as well. If you have at least a part-time job, you can be taking steps out of the rat-race and towards financial independence. I just noticed one of the threads in this forum is about a guy contemplating to spend $100 on jeans or a blazer. No offense, but you are wasting your money. Buy the $30 jeans and save the rest, invest in your future. You don't want to be living paycheck-to-paycheck for the rest of your life.
Neither do I, and nor do I want to depend on salaries or income from a regular job.
Hope you enjoy the thread.
Of course, my own mother is pure financial genuis, having saved so much money that my family went from near rags to being well above average - the American Dream.
As far as my desire for wealth - at one point only a little while ago, I thought that my dream was to become a realestate tycoon and accumulate riches beyond belief. However, thanks to certain people in my life whom I became acquainted with, I realized that is only a vehicle to freeing the financial component of my life. Digging a little deeper, I realized my real passion lies elsewhere. I am working on that.
Still, I mentioned that to clarify that this is not my life. But, just because I'm very concerned with my financial future and starting to work myself out of the rat-race at age 21, it does not mean it has to be my life; I've just got my blinds open.
This thread will detail my steps to buying my first property.
I think making a thread, helps somewhat as a reminder to keep myself on track. At the same time, I hope to show others that if I can do it, so can you. Why?
Because, first off, I have no credit whatsoever. No credit card, no loans, no nothing. I'm starting from absolute scratch. I just got a job last month, and opened a bank account only a few weeks ago. At the moment, my parents pay for my tuition/housing, though after this term I will be living at home and paying my own tuition/expenses. My parents have offered to buy me a car, buy me a house, etc; however, I would actually like as little help (or no) as possible. The advice I have received from lenders is that I should start building credit, and that is my first objective.
Along the way, I will detail everything from building credit, my approximate monthly income and how I invest it into stocks, etc. I hope to purchase a $90,000-$125,000 property by October 2006.
Objective #1: Build Substantial Credit
Note: I am also posting this thread on a 'financial' board, but I figured that since I have been here many times before, and know for a fact that there is much interest in this topic (or at least I think), that I would copy my posts here as well.
In fact, I welcome you to join me as well. If you have at least a part-time job, you can be taking steps out of the rat-race and towards financial independence. I just noticed one of the threads in this forum is about a guy contemplating to spend $100 on jeans or a blazer. No offense, but you are wasting your money. Buy the $30 jeans and save the rest, invest in your future. You don't want to be living paycheck-to-paycheck for the rest of your life.
Neither do I, and nor do I want to depend on salaries or income from a regular job.
Hope you enjoy the thread.
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