Pay Cash and Don’t Borrow Money

Very few people probably don’t think this is possible to do. But I am telling you that anything is possible and some people are able to do it. Our boys for sure don’t believe in it but we are working with them on it. They want everything now and not to save up for it.

We teach them that they need to try to always pay cash for anything they need or want in their lives. If they don’t have the money at the time then they need to wait on buying it. They can also find ways to make more money so they can buy it sooner.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at This is for entertainment only.

We are all faced with so much temptation everywhere we go. Almost every place has their own Credit Card also and offers special perks if you use their Credit Card when purchasing stuff. Yes, if you play the credit card game right you can make a little money or some extra savings on the stuff you want to buy. A lot of people though aren’t able to play the game and end up not paying the credit card balance off right away. They end up making the minimal payments and paying high Interest rates. That is what the credit card companies love to see.

Video Games

Our boys think they need that video game now and can’t wait till they save up the money. We tell them that they won’t die not getting the game until they have saved up the money for it. We don’t want them to get into a habit of buying things on credit. It is a dangerous habit we feel.

The boys if they don’t have money to buy a car let’s say for an example then they have options until they have the money saved up. They could take public transportation, walk, ride their bike or see if a co-worker lives by them and maybe they can give them some gas money to ride with them.

They need to know even if they just have enough money for that car to buy, they need to also save up for Insurance payments, title and registration costs, gas, oil and possible repairs in the future. Cars are expensive and they need to have enough money saved up to be prepared. We want them to stay out of debt.

Second Job

If they really want something and they don’t have the money saved up then maybe they need to get a second job. There are many other side hustles they could do to make some extra cash depending on how much they need. If they need a lot of money then maybe they need to find a job that pays a lot more money.

Side hustles we talk to them about is everything from tutoring kids with their Math since both boys are good with Math, doing yardwork for people to reselling stuff from garage sales. There are hundreds of more ways they could hustle on the side for more income that could be done around their day job.

Stay Debt Free

Staying debt free is so important for them to hit their Financial Freedom goals. If they are not able to save any money and living paycheck to paycheck then they need to either get a better paying job, a second job or lower their expenses. For instance, maybe they need to move to cheaper housing and not go out to eat as much. They may need to take a hard look at their current spending and make some adjustments.

Most people do borrow money for their first house and that is a choice that the boys will have to decide if they want to go into debt for a house or not. If they don’t pay cash for a house, we want them to hopefully save up at least enough to put down at least 20% towards the house purchase so they don’t have to pay for any possible PMI Insurance.


The boys know how expensive owning a home is and that there maybe times that is better for them to rent a place to live then to buy a house or to tie up all their money in a house. There is a lot of different opinions on this subject. Bottom line is we want them to stay debt free and to pay cash for anything they ever purchase.

I have worked with so many people that had debt and it kept getting worse and worse for them. The debt just kept growing and they felt like they would never get out of debt. They were stressed, afraid to answer the phone because it could be a bill collector and they didn’t want to get their mail because there may be bills.

We want the boys to not only always pay cash but to also have a fully funded Emergency fund so if something comes up that they will have the money to cover the unplanned expenses without going into debt.

Here are some positive quotes I like;

“Get your Money to Work for You… As hard as You Work for it.” By Napoleon Hill

“1. Make Money. 2. Use the Money to Make More Money. 3. Repeat the Process.” By Warren Buffett

“There is no way to happiness; happiness is the Path.” By Buddha

“Change Your Thoughts – Change Your Life” by Wayne W. Dyer

Let me know your thoughts about this blog and let me know of others you would like me to do in the future. I feel we can all learn from each other. That is why I am in the helping people retire early, enjoy life more and be more successful. Also, please see my Disclaimer page.

Don’t give up on your dreams; don’t let others talk you out of your dreams. Make your dreams happen. Make it happen today.

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