"Millionaire mindset"

[Kelly Moffat]

Hello all, 

I am just starting out in this real estate investing business and I need advice from like-minded individuals. I went to one of those "guru" classes last August and ended up purchasing a course package. Before you give me the "you shouldn't have done that" speech, I did because I didn't know any better. I ended up talking out a loan and maxing out my credit cards to do so. Not the smartest things to do, but I was so caught up in believing in myself that I didn't think it through. 

Fast forward to present and I have been trying to work with a banker to consolidate my debts. She is trying to tell me that I shouldn't (and can't) invest with all this debt and is suggesting I get a second (and  possibly third) job to start payin down my credit cards. She has quoted Dave Ramsey and it's very clear this what she believes. 

My question for you is: what would you do? 

My instinct is to get a second job because I know that'll bring in some cash but I also feel like it'll bring me farther from my dreams, if that makes sense. I don't want to be a five-figure thinker, yet I feel like getting a second job is the five-fogure thinker thing to do. 

Thoughts? 

Much thanks and appreciation! 

~Kelly 

[Thomas S.]

Do as your banker suggests. You need to get debt free before you start dreaming the millionaire lifestyle. It is actually a very valuable learning process that will pay dividends when you are financially ready to move forward. It is a test of your determination. If you can not pass the simple test of paying off all your debts you do not have what it takes to be successful.

What you need to succeed is something you lack- self control. There is a lot more to success than simply figuring out ways to move forward. You need to adjust everything about the way you now are. You need to make more money but you also need to learn how to live frugally and save.

MOST PEOPLE SPEND 50% more money that they need to survive.