Back in the early 1990s I bought my first home for $57,000, with a minimum down payment. Interest rate at the time was 7.25%. I paid my mortgage off in 13 years, by sending in an extra ck every month to my mortgage lender marked "principal payment only." Each year, when I got a salary increase instead of using it for everyday living expenses, I added that amount on to the extra principal payment. That was the only mortgage I have ever had. Sold that property for a profit in 2015 & bought a townhome for cash. Sold the townhouse in 2020, made a profit and bought the house I am now living in for cash. Staying in this home.
This couple I know went door to door, in the neighborhood they desired, asking the owners if they knew anyone selling their house in the area. An elderly lady, whose door they knocked on, liked the idea of having a young couple purchasing her home. She gave them a discounted price.
Depends on the type of trust you have. A living trust does not protect your assets from a lawsuit because you remain the owner. You should get an umbrella policy, in this case. If you have an irrevocable trust, you are not the owner of the assets so you may not need an umbrella policy. 💚
As a person who has metal detected for 30 years, the only items you should give to anyone are if you just want to give it away, or if you found something ( like a class ring ) that has enough information to identify the owner and you want to return the item back to them. No state, to my knowledge, has any rules stating you should give anything you find while metal detecting to the police or anyone else in a government or town official role. On the downside of the person's find.. diamonds are almost a commercial scam. Buying one will most likely be pricey, but trying to sell one.. Nobody will give you anywhere near what was originally paid for it. Been there, Done that.
I click the thumbs-up before I watch every episode! Clark, have you joined a credit union, if you have I would appreciate it if you would please share which one and Christa which credit union did you join?
I save more money by purchasing new, but I only buy clearance on top of already discounted items. So much cheaper than second-hand store prices. And I only purchase high-end products so they will last for years, which means, not needing to keep buying the same product over and over again. I have saved thousands on clothing and shoes, and do not need to purchase any for years to come. However, I do enjoy purchasing used high-end furniture from individuals. Also cheaper and higher quality than second-hand stores and I will not have to buy furniture again because it will not easily break.
Thanks Christa, for correcting Clark for using the word 'all' in his various statements. Excellent practice. He only does I notice when he gets emotionally intense.
And unless I'm misunderstanding, he didn't answer the person's question if the Letter of Credit Denial could be removed from their credit report. He answered that the credit pulls wouldn't do much harm unless getting a mortgage, but I didn't understand that to apply to the letter. He was serious about getting across how to buy and not buy a car.😊😊
If people don't shop for a mortgage...it's their own fault. Basic common sense. Also, in many locations, a local lender can sometimes beat the national firms. "I got the mortgage-yea". No, the bank got the mortgage (an asset for the bank). You get the "obligation" to pay the mortgage (a liability).
Great points. But there is a reality: a “decent” house cost 400k and that means you should be paying around 3k /4k a month and you must have an income of 12k A MONTH. So, what kind of business or position pays that per month, apart of being a resident doctor, engineer, pilot or attorney? Suggestion ? because I don’t think people must turn into an sketchy business… just saying 😅
9/10 items from Temu are misrepresented in quality and size and just garbage. I did get some magnetic wood house numbers I liked and some solar string lights I liked. But otherwise it’s worse than cheap. Better to be able to go to dollar tree where you can eyeball and see and touch the item
In the meantime, the police can give the description and a picture to a friend of theirs, and friend. can come in and identify it and walk off with it. I have had Police not do right I don’t trust them with anything that’s found. Due to having found some thing and turned it over to the police and then later on having met the person that actually lost it and when they got it back, it was not as when I took it to the police.
💯 Our viewers are at different phases in their financial life. Some are at the beginning with no financial literacy, and some are at the end-goal -- financial freedom! We can't assume everyone knows the basics, so we speak in layman's terms that anyone can understand. 💚
Shein, Temu and other fast fashion companies (there are sooo many) can NOT be paying their workers a fair wage when it comes to crochet items. My daughter has a crochet side-hustle. I know how long it takes to create crochet fashion and these companies sell them for ridiculously low prices (Target, Kohls and others too) Do you know that crochet can ONLY be done by hand? There are no machines to make crochet items. That means somewhere, someone is sitting and handmaking these items, likely under very sad circumstances. Please reconsider buying these items from stores and fast fashion sites. Consider local and small businesses for these purchases.
The documentary "Brandy Hellville & the Cult of Fast Fashion" (HBO Max, I think) is eye-opening and terrifying. Ghana is being exploited to both make the clothes and then unsold/second hand clothes are shipped back to Ghana for them to dispose of. They have no landfills so the either burn them or put them in the gutter system and they end up washed out to sea. The shores are 8' deep (down) with fabric. Much goes out to sea. What are we doing to our world? Something has to change.
Back in the early 1990s I bought my first home for $57,000, with a minimum down payment. Interest rate at the time was 7.25%. I paid my mortgage off in 13 years, by sending in an extra ck every month to my mortgage lender marked "principal payment only." Each year, when I got a salary increase instead of using it for everyday living expenses, I added that amount on to the extra principal payment. That was the only mortgage I have ever had.
Sold that property for a profit in 2015 & bought a townhome for cash. Sold the townhouse in 2020, made a profit and bought the house I am now living in for cash. Staying in this home.
This couple I know went door to door, in the neighborhood they desired, asking the owners if they knew anyone selling their house in the area. An elderly lady, whose door they knocked on, liked the idea of having a young couple purchasing her home. She gave them a discounted price.
😲 Wow!
I love EBay for clothes. I’m an odd size so being honest about my measurements and shopping high quality brands has been fantastic
Excellent idea on what to do before purchasing a home. Thank you.
Choose uSMART for a 6% interest rate on liquid savings, ensuring both safety and efficiency for your funds!
Wow. Early upload? I love it
Thanks to your comments, early is the new normal! 💚
Thank you! Love the new upload time.
Choose uSMART for a 6% interest rate on liquid savings, ensuring both safety and efficiency for your funds!
Do you need an umbrella policy if you have your assets in a trust?
Depends on the type of trust you have. A living trust does not protect your assets from a lawsuit because you remain the owner. You should get an umbrella policy, in this case. If you have an irrevocable trust, you are not the owner of the assets so you may not need an umbrella policy. 💚
Purchasing in America, especially in high-end stores with products made in other countries, you buy items from sweatshops.
Temu sources are questionable for sure, so do a deep dive into where Dollar Store or even Walmart merch comes from.
As a person who has metal detected for 30 years, the only items you should give to anyone are if you just want to give it away, or if you found something ( like a class ring ) that has enough information to identify the owner and you want to return the item back to them. No state, to my knowledge, has any rules stating you should give anything you find while metal detecting to the police or anyone else in a government or town official role. On the downside of the person's find.. diamonds are almost a commercial scam. Buying one will most likely be pricey, but trying to sell one.. Nobody will give you anywhere near what was originally paid for it. Been there, Done that.
Thank you Team Clark.
Temu. Filling up the landfills here. 😒
Choose uSMART for a 6% interest rate on liquid savings, ensuring both safety and efficiency for your funds!
Great show 😊
Nice early treat!
Thanks to your comments, early is the new normal! 💚
I click the thumbs-up before I watch every episode! Clark, have you joined a credit union, if you have I would appreciate it if you would please share which one and Christa which credit union did you join?
Clark uses Navy Federal Credit Union. Christa uses Delta Community Credit Union.
Thanks for the pre-watched thumbs-up! 👍👍💚
@@Clark Thank you.
I also give a thumbs up before watching the videos since Clark’s videos never disappoint. The very best information .
@@donna-n5h 👍👍💚
#TeamClarkRocks
I save more money by purchasing new, but I only buy clearance on top of already discounted items. So much cheaper than second-hand store prices. And I only purchase high-end products so they will last for years, which means, not needing to keep buying the same product over and over again. I have saved thousands on clothing and shoes, and do not need to purchase any for years to come.
However, I do enjoy purchasing used high-end furniture from individuals. Also cheaper and higher quality than second-hand stores and I will not have to buy furniture again because it will not easily break.
Great shopping strategy, Clarkie! 🙌
Most clothing companies in the US are using cheap child labor as well. People are so unaware.
Thanks Christa, for correcting Clark for using the word 'all' in his various statements. Excellent practice. He only does I notice when he gets emotionally intense.
"All" was correct.
And unless I'm misunderstanding, he didn't answer the person's question if the Letter of Credit Denial could be removed from their credit report. He answered that the credit pulls wouldn't do much harm unless getting a mortgage, but I didn't understand that to apply to the letter.
He was serious about getting across how to buy and not buy a car.😊😊
If your IRA is a rollover from a 401k it is protected from creditors. Never commingle your traditional IRA with a 401k rollover IRA!
Good tip, Clarkie! 🙌
How about CMG All In One Loan.😄
If people don't shop for a mortgage...it's their own fault. Basic common sense. Also, in many locations, a local lender can sometimes beat the national firms. "I got the mortgage-yea". No, the bank got the mortgage (an asset for the bank). You get the "obligation" to pay the mortgage (a liability).
Great points. But there is a reality: a “decent” house cost 400k and that means you should be paying around 3k /4k a month and you must have an income of 12k A MONTH. So, what kind of business or position pays that per month, apart of being a resident doctor, engineer, pilot or attorney? Suggestion ? because I don’t think people must turn into an sketchy business… just saying 😅
Wallmart is not a good place to shop. Some orices may be cheaper but many products are of lower quality and many/most of their employees are useless.
If you told the dealer not to run your credit and they did it, that’s fraud. Report them for fraud and let the dealer deal with the consequences.
Take things easy, we've all made mistakes
Banks are never your friend. Never get a mortgage.
9/10 items from Temu are misrepresented in quality and size and just garbage. I did get some magnetic wood house numbers I liked and some solar string lights I liked. But otherwise it’s worse than cheap. Better to be able to go to dollar tree where you can eyeball and see and touch the item
In the meantime, the police can give the description and a picture to a friend of theirs, and friend. can come in and identify it and walk off with it. I have had Police not do right I don’t trust them with anything that’s found. Due to having found some thing and turned it over to the police and then later on having met the person that actually lost it and when they got it back, it was not as when I took it to the police.
Yay for promoting used clothing! Other than undergarments, 95% of my wardrobe is used clothing!
Yes I love thrift stores .
We love to hate Walmart or vice versa.
Sometimes Clark sounds like he's talking to totally clueless ppl..
💯 Our viewers are at different phases in their financial life. Some are at the beginning with no financial literacy, and some are at the end-goal -- financial freedom! We can't assume everyone knows the basics, so we speak in layman's terms that anyone can understand. 💚
Shein, Temu and other fast fashion companies (there are sooo many) can NOT be paying their workers a fair wage when it comes to crochet items. My daughter has a crochet side-hustle. I know how long it takes to create crochet fashion and these companies sell them for ridiculously low prices (Target, Kohls and others too) Do you know that crochet can ONLY be done by hand? There are no machines to make crochet items. That means somewhere, someone is sitting and handmaking these items, likely under very sad circumstances. Please reconsider buying these items from stores and fast fashion sites. Consider local and small businesses for these purchases.
I would’ve kept the diamond but that’s just me
The documentary "Brandy Hellville & the Cult of Fast Fashion" (HBO Max, I think) is eye-opening and terrifying. Ghana is being exploited to both make the clothes and then unsold/second hand clothes are shipped back to Ghana for them to dispose of. They have no landfills so the either burn them or put them in the gutter system and they end up washed out to sea. The shores are 8' deep (down) with fabric. Much goes out to sea. What are we doing to our world? Something has to change.
Rambling as usual dragging it out he can’t seem to get to the point
Agreed! Clark: too much “ado.” Get to the point, son.