How to Avoid Carrying the Burden of Home Ownership Debt?

Under current and near-future economic times, it is more important than ever to start thinking about financial planning and how you are going to stabilize your earning and spending habits.

Here are three quick and easy ways to start thinking about your earning and spending habits, that over time can ultimately provide a stable pathway to successfully achieving your life goals:

1. Begin treating all of your spending as investing.

What does that mean? Ok, not everything is easily broken down into an initial capital expense, maintenance, operational, or administrative costs, and a return on capital. However, many items, services and experiences in your life can be viewed like an investment, which helps you decide if they are worth it or necessary, as you relate them to your goals and dreams in life. It is a mindset.

What is an investor? An investor is someone who commits money, time or any other source of value, into a person, venture or other initiative, to receive a financial reward for valued advantage some time in the future.

For example, let’s say you want to own and run a restaurant. Everything from starting with your passion for food and serving people, to an education across the disciplines of culinary arts, business, and retail commerce, are all big investments of your time and money that will help you achieve this goal. That means that even a seemingly separate expense like a vacation trip to New York with the family that may seem like a needed, but inopportune financial and timed event, may be framed as an opportunity to visit a few top kitchens with red seal chefs, and network for contacts and advice.

Intangibles like the way it makes you feel and the emotional states everyone yearns for or needs to escape from, are slightly harder to quantify, but by no means any less important to view as investments. A self-help book to learn more about who you are, a night out with your partner to laugh and detach from routine, or a ski trip with the kids.

The more time you dedicate to thinking and acting like an investor, rather than a consumer, the more inherent value you will begin to derive from your everyday actions in life, and the more aligned you will become with achieving your goals.

2. Begin decoupling your time from your traditional income.

The key word to consider here is ‘balance’. There are a few tried and true methods of decoupling your time from your income, or in other words, breaking free of the 9-5 work day.

In short, here are three ways to free up more time in your life to better align yourself with your goals:

• Monetizing one or more of your hobbies or creative outlets that you love doing and already spend a lot of your spare time actualizing. The consideration of turning your passions into work, can feel like a daunting and conceptually obtuse thought, when you are so used to doing something for somebody else to make money to survive and allow for the free time your desire, so you can scratch the surface of your activities that make you happier. However, if you consider our first rule of ‘spending as investing’, then you realize that you will ultimately be expending less time, energy, and money, doing things you don’t want to do, so you can be doing the things you would rather be doing.

• Freelancing, blogging and other creative content generating activities. Taking control of your time, setting your own value for your contribution, and generating recurring income from views, clicks, ads, and influencer promotions. The global social media network available to almost everyone today is a platform for you to express your skills directly to an audience that needs you.

• Using your money to make passive income. There are many ways to put your money to use, and having a consistent plan to attribute some of your free monthly cashflow to investments and other financial instruments to provide passive income will compound over time and accelerate your financial success. Here is a brief list of options:

  • Index Exchange Traded Funds (ETFs)

  • Mutual Funds

  • Rental Properties

  • Technical Gear Rentals (Audio Visual Equipment, Construction Tools, Heavy Machinery, etc.)

  • Land Used for Seasonal Storage (RV Parking, Sea Cans, Civil Infrastructure Staging, etc.)

  • Staking Cryptocurrencies

  • Buying and Holding Dividend Stocks

3. Use equity to leverage your goals closer to success.

First and foremost, you should always be monitoring and managing ways to slowly lower your principal debt and decrease your outgoing cash flow for bad interest payments. As you accumulate assets, you can use your equity to access more collateralize debt, from which you can invest and acquire more assets or more cash flow. Equally, as you accumulate more in-depth experience about a particular subject matter, you can contribute greater value using less time and harvest incrementally higher value from your customer, client or audience.

This program can be cyclical and thus become another compounding financial instrument that elevates your capacity to continue accumulating greater valued assets and cash flow, while also spending less time to harvest greater value from your skilled contributions to society.

As Einstein once stated: “Compound interest is the 8^th wonder of the world.” Managing your bad debt, accumulating income generating assets and leveraging your equity to continue this financial process equates to an accelerated financial plan that removes the burden of carrying long term debt.

So, what do these three rules have in common with Viegage?

The Viegage Invest-To-Own model was built on all three of these principles, and it is with these in mind that we are able to deliver a superior home financing plan that can remove you from the never-ending cycle of home ownership debt into a state of financial liberty.

Getting back to the main topic of avoiding carrying the burden of home ownership debt, Viegage home financing treats the home buyer as an investor, and manages your financing plan with you so you can achieve clear title home ownership and financial liberty within approximately 12 years.

Stay tuned for more exciting news and advice.

Kayle

CEO