The Debbie Lewis Show, 7/16

The Debbie Lewis Show
Sunday, July 16th

The Debbie Lewis Show, for July 16.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Hi this is Gordon Deal join me weekdays 4 this morning America's first news to hear the stories you'll be talking about in searching for all day as we go beyond the headlines and above the chatter weekdays at five on talk thirteen seventy. Hi I'm Debbie Lewis and welcome to the show today. We want to start off talking about mortgages and in the mortgage business almost twenty years and I know it's a long time. And we see mortgages changed. Throughout the years recently stated income loans now everything has to go off your tax returns so things have changed but there's a few rules that haven't changed. We're gonna cover those first on the show today. What do you need to know when you apply for mortgage I give everybody a list of do's and don'ts if you want this list please email me and Debbie at. Debbie Lewis show dot com and I'll be happy to an email back tee. Ed Jones was can't talk about the Jones first let's start with the negative and with the positive. The don'ts do not closed or open any asset accounts or transfer funds between accounts without talking to me. Your loan officer first about proper documentation required for your loan. For example the Ford transferring all your funds from your savings to your check teen in order to send a wired of the title company or. Get a cashier's check talk to me. A lot of times people pull money from three or four accounts if you start doing now during the process I can't even. Source those funds and make sure they're there because they're not there anymore the statement that she gave me your wrong. And now we have to write a letter of explanation explain are all that money is moving around that's gonna slow down your closing. The next thing is don't deposit any. Money this cash. Into your bank account. A three months prior. To do and along with me as a nasty where it came from. And it in the does that mean I had to make you take it out just means you may not get to use it for your down payment probably not if we can't prove where it came from. Now it's again asked that the different we can source that through a bank accounts and a gift letter if you just. Cell of four Wheeler and you put the money in your account. Great but I can't use it now and let's I have documentation of who you salute to an a Villa fail. If you in this is to prevent money laundering you know in the mortgage business were heavily licensed and we have to learn about money laundering every year in their new techniques all the time so because we get to know so much about money laundering I can. I can help you get money in your checking account the right way and if you do it the wrong way we're not going to be able to use it. If you wanna put a gifts money in there you wanna sell a bunch of stuff are you just won a deposit a lot of cash in your checking account. You need to do that before you come to me to do your mortgage so it's already in your statement so when I asked for the last two months bank statements it doesn't show up it looks like you've always had 50000 dollars in there. I don't have to know that she's sold a vote that someone gave do you where he's sold towels or you sold the diamond ring or whatever it is you sold that we can't Trace. You know I changed jobs or employers without. Talk enemy first you say daddy how much and has changed jobs and have a new job in Oregon. In my mortgage. And why would I ever quit I don't know what happens all the time last year I had a really great self employed man that was done. A CEO for a company and he decided he was gonna quit take the month of August off. While in the middle of a real estate transaction with me he was gonna start his new job until after the holiday in September. And then he ran paycheck army. In his he didn't get to fund is lining closed until he had that first paychecks had even though we had a new letter with a new employer. Also just because your stay in the same industry you can change jobs in the middle that we got to verify that job who it swift. We've got to find out your link of employment and how they think you're gonna stay there or not. I had wallet economy is seen as we can't possibly close on Friday because that's my husband's going away party. NASA really where's he going and she's like he's changing jobs that last day. Michael are you gonna tell me this I mean I can't I have to now. She goes why he's going to be making more money the new job. Michael now we can't print the papers because they're not gonna be right we got to verify that new job with HR. It just took closing extra couple days because we had to update the information make it true incorrect. Also I don't opener increase any liabilities. Don't good charge on your credit cards a whole house full furniture or act a new washer and dryer. Or buying a new car. Even if it's deferred payments like they have those furniture stores were as deferred for the year to pay it off within a year you pay no interest is still shows up is a new line of credit on your credit report. And now I have to qualify you without additional debt. Know some people are really close to the edge when they come to buy a house anyway because they have extremely high car payments maybe. The goal is to not have this problem so don't go opening new bills don't go try to buy a new mattress or. Any furniture or appliances for your home and tell your loan is funded that does that mean closed the title company neagle by and that afternoon. That means alone has to be funded through the lender so he had talked with me before you do that stuff so I can make sure we're doing this the right way and doesn't Dijjer. Lone hiccup. And then we have to pre qualify you again with different numbers run you back to the whole process and did you. Qualified again and then info on the line so it just creates a lot of more problems don't do that. Okay now the dues to get things that you can do. Do keep your originals and be able to access your employee your bank sites for all pace studs bank statements and other important documents when you give me a bank statement I need a real statement. I don't need an activity. A bank statement had an opening closing balance and ending closing balance and all the deposits and all of the checks and the ATMs on it. It doesn't have a running total that never ends that's called an inquiry. Or a balance statements but it is not a bank's statement so that's not what we want we need to get the right information and they're just gonna kick out of underwriting and put it and so I don't even for it and start it. Do provide earnest money deposit from your own personal bank account. Or acceptable give funds don't let your cousin. Or your uncle or your mom right your deposit down payment check to the title company on the first contract for your real estate. It has to come from your account and Rory are gonna need to get the front and back copies of that once it's been cleared the bank and a positive from the title company. Also provide all documentation for the failure current home. Including the sales contract the closing statement of when that loan funds in any employee relocation or buy out program is needed. Also during notifying me if you plan to receive gift fines. I just means that I needed no we are getting the down payment and that's part of our first conversation easily. When we talk about down payment money its income from your savings checking our cum can't be alone from your 401K but then we have to hit that dead against you. You can also get in the form of gift funds that depend on what kind of alone in your qualifying for. There are different rules for FHA and VA and conventional give funds we needed gift letter from the person giving it has to be a blood relatives just not a buddy. And we have to have a couple months of those bank statements showing more they got the money. And we have to look at improved that you didn't give them the money and they just all of a sudden gave it back to you or the whole money laundering process yet again. Also you're gonna need notifying me of any employment changes such as a raise or promotion are transfer. Change of pace status. We can't use a commission from it unless you've been their two years we can just use the base salary. This is awfully sticky when it comes to. Being in the sales business. Howell and how and why you get paid the way you do is always a concern so there's a one on some of the first things and talk to you about. When you come in to qualify alone. Also be aware not going to let everyone in town pull your credit report. So why are solvent for mortgages so when you comedy it's a Debbie. Our shop mortgages let me tell you what my current credit scores are naming all preschoolers and I'm tell you what our rates going to be toward those scores. If you don't know all freeze someone's gonna have to pull them but if you let every lender that you call pull your scores. Your credit scores are gonna plummet and then those and then I'm not even going to be able to get to the score high in the credit. That I offered the first go around because your score is so much lower now also. Don't go shopping for new cars loss hopping for a house pick one. I'm telling you depict the house first. You have to qualify within a certain ratio to get a house. There are no ratio qualifications. When it comes to cars so houses first day in car is if you. More questions about a plane for a mortgage I'd love to help you my name is Debbie Lewis let me give you my direct number it's 979220. 3018. That's 97922030. Point eight. There will be back with more on my show. In just a moment. Take a talk with you anywhere we'd be on the news talk thirteen seventy app lets you. Keep up with the latest breaking news and our search for top thirteen seven. On air online and on your Smart tonight. Thirteen seventy inch yeah right so it. Hi Debbie blues here and we're back with more of my show. I'm finding that in many business. Or insurance. Can't always answer all the questions. Half an hour. So I compiled this list of those point by documents he needs before he died things that she needed deals that your hands on all the time it's easy to keep them together is being. Clump. Rather cessation deposit box or a safe at home are just in a filing cabinet altogether. Documents that we ask you for that your gonna need it. To do almost anything read your best teen as if it's at with your insurance it with your health insurance. People are gonna ask these questions so here's a quick little list. Marriage license if you've been married in the last several years. You're updating papers that marriage licenses imperative divorce papers if you do it divorce in the last several years. Keep that he Indy whether it's your kids for college or urge your insurance. Divorce papers specially in the mortgage business are always an important personal failing medical history. Right it's down keep it one place keep it there all the time. Durable health care power of attorney. Testing case I get hit by truck today's semi knows what to do with mean. I don't believe that to chance. And I don't wanna have here's say I would like a document that says that. Authorization to release health care information. That's fine if you have no wonder release it to but if you have -- on members checking on you they have to have clearance that a lot of time a living will. Living wills really important because you just never know. A lot of us don't know when it's our time you know the people I talk to my kids all the time is you never know. When your last day as you think you'll have all this plan lean into to get sick and die when you're older. But what are the people who went down the plane crash recently. It was not there today. I'll let him literally. But they had to have things in. In in order you just have to take control of all this stuff. Do not resuscitate. House land in cemetery deeds. During the times of trials and tribulations with health care. Out that is not the time. When someone's had a heart attack or someone's passed away to start looking for all the paperwork everybody's distraught it's really stressful. Spattered pattern of one place. Escrow mortgage accounts. Can't say how many times I talked to people about who handles your insurance who's got your hands is the beneficiary on this or that Olmert talk and insurance or mortgages and and they don't know leader insurance company is. They've got they've got a call somebody. Well east of a file with that in an even if you escrow for. Here insurance she still need to have a file you got your insurance where it truly got to shop coverages to make street gained best price for the best coverage is. You have column in place. Proof of loans made in debts road. Everybody thinks that everybody's got that right on hand a lot of people keep that tucked away in secret places. But it's important that you know who you will how much Hugo here's the thing happens to you if it's paid off for not. Vehicle titles. I've I've had cell vehicle before I didn't have the title for a boy that's a big pained and figure all that out it's better if you keep all that together. Start certificates yes they still make stock certificates savings bonds and brokerage accounts. You need to have I've I've walked with a lot of older adults that. Has had a brokerage accounts and they can't put their hands on the file. They may I even have a father gives statements. Someone else's file the statements are they don't know where their rat they don't know how much money's in which account. You need that for applications for mortgage you also need doubt if you're going to talk to someone like myself that the financial advisor. To find out where your moneys that we gotta have some statements. Tax returns partnership and corporate operating agreements. These are all things that are very important can cost you hundreds of thousands of dollars if you don't have a tax returns. Don't rely you're CP to always have a minor they're exposed to. But if you have to go back years and years it's best if you have those. In this can all be stuck locked up you don't need this all the time that we need that you do need it life insurance policies. Individual retirement accounts. 401K accounts all the stuff was important need to do to get your hands on. You know who the beneficiary is a lot of times we change your life situations we may get married or divorced we have the wrong beneficiaries illnesses is something that you need a day as well. Pension documents. It you may get a pension you're gonna need a file folder to show it to someone of what your pension gets you. Does it just cover the money or does that cover the insurance the benefits as well. And new woody contracts. Listed bank accounts is a tough one. List of all user names and passwords now I know 123 is not everybody's past -- in nor should be but if you're like me you may he uses a great project elders go on this website senate passed or will everything have to pass for now days you need to keep those in one place for their it's a book for there to file. He got to keep those together list safe deposit boxes. Know a lot of families stashed things with safety deposit box is rather's claims are diplomas certificates needed. Find someone and you find the list of where they're asked a lot of them had been in existence for years and gamers have just forgotten about him. I will a letter of instruction and trust documents now I'm you say these documents are important are all have a ready to tell my need of the important thing to realize is you never know. When you're going to need them. My practice I DC several families. Every day they come in and have their paperwork together but just as many times IT families that have no idea. How to find their old 401 k.s that they have and that's money just sitting there usually do we cannot convert over to an irate and make it more profitable year. There's nothing like leaving your family with an accident. And not knowing where all the paperwork is at families are to stride over this and we really need to keep our stuff together and organized. Canty how many families spend a lot of time a lot of wasted time that they can get their hands on the documents that you ask for when someone passes away. Or images simply refinancing your house. I need to see what your for a long case look like your investment programs I need to see your checking and savings. And yes routers are great thing but if you're getting ready to refinance your home. You can shred everything that's fine but realize that you will need to download all those statements. Off of whatever bank website pitcher on and have statements on activities a lot of those things people shred every month. Like payoffs. Those are important you need to keep the payoffs you need to see. If you have renal property their rental agreements and everything on a flash driver on your computer but always backed out it does indeed anyone any good at. If you haven't on the computer it's not backed up you can't get to it and Morgan and need that when we do financial work for you even planning not your state aid so is helpful to your family members after you pass to have everything in one place for someone knows how to get ahold of it. Or you're going to leave money. They cannot be transferred someone else especially if you have an update your beneficiaries he don't want to leave it to an ex wife. Maybe two ex wives ago you might wanna leave it to your children and you got I have. A copy of that or else the last one that is produced. Is going to be the one that. Now in their seventies and eighties has not confide in someone else in the family of where Alder. Personal information is their warranties. There are death benefits they may have. Paid to be buried somewhere in if you don't have access to those papers. You may not do this right you need. These things easily access for everyone this is not a secret this is just a fact this is not personal information that no one needs to share. It will be shared or needs to be shared after they passed. But you need to have someone in the family it's able to have access to this information set to say there's a lot of families suing other family members after someone passes. They go into litigation because no one knew the plans of the person that passed away and they're all fighting over either money which always brings a family to fight or possessions. So really to save everybody a lot of legal fees in the future in some states that stated south decides on how it's going to dole out the estate if it's not been set forth and it will also will is very very important. And just depending on your state pitcher and you have to abide by different laws it has to be. Aside by a notary or witness make sure you know what's going on in your state improvised Ford if not the state will sign out the assets. And I doubt that the family is going to want that no one. Really once that my name is Debbie Lewis and I do this for my clients I'll be happy to send you a list all you have to do is email me my email address is Debbie at Debbie Lewis LE TW I as shallow as HOW dot com I'll be happy. It will save you time in every you can just check off the boxes. Make it a rule for this year instead of putting things off just when you hear a good idea jump on you have five seconds to make it yours. Take the reins take control of your finances and your financial situation for loved ones that can't decide for themselves and make it easy on everybody I get my email is Debbie and Debby Lily show dot com we'll be back with more in just a few moments. Texas weather can change on a dime. I wanted an Internet and doing here normally. When the weather turns severe. Turned to us for what you need to know on air and online at top thirteen sending dot com top thirteen seventy the right choice. And we are vastly more. And myself. So now we're gonna talk. VA benefit. Speaking I bet I know that Bentley tells what you do. I'm an attorney here in town that I represent people before the VA help veterans. Deal with the feet in the appeal decisions by them. It's it's a really hard. Lots of paperwork vary and a time intensive. And we really need an expert working for us on our site to help us do it is because it's not easy to apply for veterans' benefits. Well the VA is one of the largest federal bureaucracies are we. Some room the people there are very hopeful some of whom are not as well. Today and it talked about dependency and detonated compensation. That's just sounds like a lot what is what does that down in normal terms that I can understand. Well normally. You know when the veteran passes away. Oftentimes the surviving spouse. That children other. Veteran. In the parents of the veteran can be eligible for benefits to the beat. But the VA doesn't feel very good job of educating folks about this benefit is available to them. So that's one of the reasons here for a traditional people who find themselves in this situation. Apart and get those benefits could can be very helpful share me because it's at what determines the amount of money that ticket does it benefit. Well I think it's this desperate that formula that's really tough. Well this one actually is is not based upon need it is a benefit based on. Disability so I get the veteran passed away. It's available for those spouses fear. For their husband out of active duty or. Died related issues some disability so if if the veteran had filed for disability compensation. Analysts say that he was strong and 70%. Okay for a person but so let's just say 70%. In the eve then died as a result. So long illness or injury while he was on active duty that he then had compensation for. The spouse can apply for this benefit that's huge that analysts also is never good you can never know about it and yes certainly that 70%. Tax free income that the veteran was getting goes away. And it's devastating for the spouse left behind because they still have bills and if they are. Depending on the money and it's certainly stops then now where there there's stuff. Where are the other thing you also can help. 400 children under the age of eighteen and children who are between 18123. You're attending school. So they can also follow for the benefit. And that and the other promotion going whose parents are still alive that the parents. Now in that situation the parents have to have any income he ever order awkward. But a lot of parents never know about it they're not aware of it. So it can be a very big. Good effect. Well I'll share and I I wish they would do a better job about promoting the benefits that are available let. Someone like yourself and leave the paperwork cast to be pretty intensive to once you find that there's a benefit out there that don't even know where he could find. Howdy paperwork. Sure and that's what we help worth. We help them columnist Serbia forms. Give the statements and get these documents that support. Making requirement that via. As an attorney you get all types of law. But this is something that's near and dear to you why. Focus on a veteran guy I've served. Or. Over thirty years with the army National Guard I've deployed four times. Peacekeeping and combat operations and got to see veterans commencing your time and again they've been turned down by the VA end. You're thinking. Why did they give us an error and so that's where I can help Rory is step up and and challenge Palmer's disagreements and a few words. I have often times it's as simple as going to be facing what the VA look at. And Phil and then the points form because you that you think you see that it's up in the NBA doesn't mean his tenure file Craig gone so what else is file. So today they have a duty under their own rules being rules to show you what's your claim follow us. So when you look at that if you if something's not there. That is simple as adding that backhand getting that. Reviewing officer. To make a decision based on the additional evidence that she's about it. And we don't know what's in there for don't ask a lot of times. It is easy to just become denied an and you never got back because it's easier to be a hassle or you think you forty minute and item why would you get a second chance for us. And sometimes. Unfortunately federal agencies bureaus they pay well and over the PA does as well a lot of the Reuters he's they have a tendency to denied claims for that very reason because they know when they denied a certain number of those claims are gonna go away. And they have a much more power to do. Right so instead if you if you are attributed to represent you Wear that thing you do that's more. Powell. And because you keep poking out you get their attention they're more likely to find in your favor and give you five. Debt that would be amazing what is the time process that it takes and how we contact you. And when do we start this process. You wanna do it within six months of the death of a veteran K and and they can contact us through either alone or my phone number. And give us another 9793145155. And leave a message and I'll get back with a hole and that we can take a look at her there VA communication and see if we can help. Is this just if you're a veteran that lives in Texas now is as veterans anywhere raises. Tell me what that is our territory area. No we pretty much hope our veterans anywhere. But I love his communication Vieira fifty or not. Coupled with communicating by email or over the phone that is difficult to look for help somebody outside. This area is Iraq but it took me to come and meet with you and does this process take a long time. Well the process. Can't take a long time but it has nothing to do with us that's okay yeah that the days you know FDA has to have two different tracks when his days. Troy people claim track of the others standard crime. Before legal point track almost claims is about five months. The standard contract. Is typically middle won't go very a year and a lot of it depends on the regional veterans. Office that should give. Harris County Houston his defeat. Take longer than Waco. Some other illness is a bit hesitant than dense population and an air density of population. Without doubt. The introduction by. It can't other down I'm not sure. So do we file here progresses county where where you found most of your Stafford doesn't anywhere that better lives or where you're opposites. Is based upon whether their lives to serve the better lose. So blond College Station. They are normally follow through the first county regional office if they live in north. They're going to vote for the Waco regional office okay. Again that what information they need to call you today just pick up the banks say they need helping all ask all the questions that they need to answer we'll we'll call. Person and we can always on my list of documents are we need error. Proof being. When the veterans serve what his disability rating was with the VA. And then. The death certificate if that's why it's important for us surviving spouses should know this because. For example my father. Serve. Was one of the atomic veterans he served in 51 through 53. And he was out it can't block Las Vegas, Nevada where they tested the nuclear weapons wow well there's a presumption. Mean in the long now that if he served out there and later was god knows where. They cancer or leukemia. That that was calls from his military service but when you look at that she won't know well there. Depends on what team doctors treating doctor put down offers doesn't have to. So you'll ever my father died of asphyxiation. Which was very excited. Calls from his leukemia. But the reality is that can be kept the kid calls his death. Sure that it's better the surviving spouse context of sooners are we can talk to the doctor. And make sure that we can always get a letter from the doctor right but here unless you Alitalia. Tie altogether say yeah educate the doctor about. What you're trying to do so they can tell you if that's reality or not. Right he fits in this plan. Delegates and don't there's a lot of nuances and there's just too many things to go on weight here but how they contact you again if they want more information that someone in their failing your theory your mom and dad grandparents whatever needs your services. Sure it's an uncertain unsure what 45155. Phone number of hand. Our web site his nettles play football dot com and we'll be back with more of. My show in just a moment. Keep up with the latest headlines from Austin and beyond on the all new talk thirteen seventy dot com stay export with the latest news weather contests and more it's all just a click away had talked thirteen seventy dot com just one more way to stay connected with talk thirteen seventy. Catch up on the latest headlines at any time and it's not there's scene seventy. Indeed dot com. OK I know we talk credit here on the show and they're just three back in my name is Debbie Lewis and I talk. Money finances mortgages and now we're gonna talk about the bad stuff about day. How it continues online forever have you ever thought about what happens to your dad when you die. You probably going to die was some dead in your name most people do in fact 73%. Of consumers have outstanding debt when they were reported dead. According to December 2016 data provided by credit dot com a credit union by experience. These consumers carry an average total balance of 61554. Dollars and my guys. But that did include mortgage debt without home runs the average balance with a little over thirteen thousand dollars. Based on experience one file database which includes 220 million consumers. To determine the average debt people have when they dine. Expand it to consumers to as of October 16 we're not deceased but didn't show deceased as of December 20 sixteenths. Among the 73% of consumers who had debt when they died. About 68% had credit card balances the most common that was mortgage debt followed by auto loans personal loans and student at times. There was an average and paid bounce of credit cards of almost 5000. Auto loans of 181000. Personal lines of 151000 student loans when new diet of 26000. Dollars. That's a lot of debt and it just doesn't disappear when someone dies for the most part your debt dies with eBay dad doesn't mean no one affected people do you leave behind. And this is most important. Debt belongs to the deceased person or that person's a state. So if you have enough assets to cover their debts to creditors get paid. The beneficiaries. Receive whatever remains. But if there aren't enough assets to satisfy debts to creditors lose out they may get some but not all of what they're road family members do not become responsible for the dead. Just the state pays its first so that's the general idea but things are not always that straightforward. The type of day you have where you live in the value of your state significantly affect the complexity of the situation. For example. Student loan debt it's eligible for cancellation upon a borrower's death but private student loan companies do not offer this same benefit. They can go on after the borrowers a state for payment. And again let's say this is upon a borrower's debt. This is not Graham on dies and is no longer responsible for granddaughters debt. Or her daughter's death it it's his grandma's student loan debt on grandma. In which she should have student loan debt so usually when I see happens is people sign off on other people's student loans. Because they think they're helping them out and actually dead dead is going past their graves with them. There are a lot of things can get messy this way so say here asset is our homes that have been people limit. That asset must be used to satisfy debts weathered the mortgage on the home or a lot of credit card debt meaning the people that live there may have to take over the mortgage. Or your family may need to sell the home in order to pay creditors. I counts with co signers are co applicants can also redirect an end result in a debt falling on someone else's shoulders so community property states where spouses owed. Shared ownership of the property also handled debts according to a married a little differently. If the one thing. And the beneficiaries aren't relatives that don't need your money but if you're beneficiaries are surviving spouse or minor children people like that depend on you for their welfare. Then the you guessed it life insurance you need a life insurance to pay off your mortgage in your bills you really don't wanna settle that went I am with anybody else. To avoid burdening your family make sure you're dead doesn't make a mess of your state is to stay out of it. Keep tabs and you're dead I review leaning your credit report poor planning can leave loved ones was significant stress for example. You don't have a Willard designate beneficiaries for your assets. The law in your state of residents decide who gets what so if you don't write it will your state of residents will write one for usage you pass away. The odds that the state laws and your wishes are different. It can also get expensive to have these matters determined by the course administrators get cost it's paid the for the creditors in the beneficiaries. So. The lesson for today is put together will of your own leave things to the people that she want to leave things to. Life insurance the reason you get life insurance is because you protect the people you leave behind if you are helping pay for the disabled child and disabled loved one is any loved ones set aside some life insurance to keep them in their standard of living. Too many times I have done mortgages for people. Dads did the right thing DR spouse died left and life insurance and with that they were able to buy a house may be free and clear. And continue on it. Mean it. I think only in a home that was provided for in my life insurance without life insurance. I don't think those people went and had the money the resources the job the time. None of those things to carry on with their families so those are important things again if you have questions about. If you need life insurance if you need to leave the well which everyone does please contact me for more information just email me. My email address is Debbie asked Debbie Lewis show dot com. People talk to me every day about money how to save more money how to retire was money and the things that I can't. Help but mention is dead. Saving money investing money thinking about money be tiring with money alt Brit cars habits. People actually seeing dead. They're not talented and disk and it doesn't take talent I think it takes time and patience and understanding. And also. You need to have your behaviors and line and behaviors can always be changed. May tip people summon their battered many and I don't buy it and neither should you. Being good or bad that money is not a stated dean it's his series of behaviors and every moment offers as a chance to choose a new and better behavior. A lot of this comes from what we think about money. Well we think about good money behaviors and bad money behaviors and maybe the people that have money that we know how they DH. The notion of changeable behavior verses fixed identity as at the heart of what Stanford University psychologist. Carol wecht labeled as they growth of the mindset the belief that your abilities are not sixth but can be developed with your effort. According to positive psychiatrist in Angel adapt worst author of grit the Arab passion and perseverance. I grows mindset is a cornerstone component of grip. Or the ability to pick the goal and stick with it which according to airports research is a key predictor of success. This mean it is time to dismiss the notion that. Anyone is simply a good or bad money manager our relationship with money in any form is not ethics identity. It also means your believes about what you can and cannot achieve financially. Can have a major impact on youth after all if you don't believe that you had the ability to get ridge. You're not likely detect the action necessary to achieve. Ridge outcomes so what do you need to do to get down of the nitty gritty with Germany. The first step is preparing yourself to make changes and I know changes are never easy Nana does like to change. Mel Robbins if you've ever heard her speak she's got something called a 52 rule it's a book that's out now you can also go on YouTube and watch her talk for hours and hours about five seconds it takes five seconds to get yourself up and going if you wait longer than five seconds to make a move taken action. You're not going to do it she said our bodies lie sustain one of two states what I've always done it and fear. So whether it's driving home a different way. Talking to people a different way walking across the room to meet someone that you wanted to talk to all those things you have to change it that's not your first instinct. But change can happen. And fortunately most people receive little or no formal financial education. So is independent adults struggling a management any day is soon and excepted they're simply that it spread and dictating time to learn what rich habits look like and practiced implementing them. So many of his thing did he urges gifted to have money but it just takes discipline it's like going to the gym and losing weight in staying thin and fit and healthy those are all habits inhabits can be changed. Nobody leaves the womb knowing what an IRA is or what kind of Maureen say can qualify for how to negotiate your salary. And nobody gets fridge by accepting that their financial habits are fully formed. You know last financial advisor that I I do work as I don't let people. Invest in things. Technologies. That stocks mutual friends I Ares whatever if they don't understand it I have to deal explained to you in new grass that but the whole quantity idea. Or we don't go through with it in yeah I can give you articles are read and things to. Due to moving in that direction but you have to be on board with me I don't talk over anybody's head I'd put it in really simple terms so if you need more information about how to do this contact me I'll be happy to help. Financial know how from resisting impulses to purchase to learn an investment strategies is a practice you can read books on it. You could be retrained I do you see people in my office every day trying to apply for a mortgage. And they need to pay off debt they need to raise their credit score it just takes sitting down with someone like myself I've done it for years and years and years. To help you in the right direction the rest is up TU. I can't make you pay your bills on time however I can't suggest. Get a savings account together and make sure you don't over draw your account to make sure you don't pass bills mixture you pay your bills on time you can even on May yet. Simply recognizing that our financial lies take the same time. Energy encourage to a cheese this same positive outcomes as your health relationships and careers can delayed L along way to driving us towards our financial goals. Once you've prepared yourself to make financial improvements. You can get started finds you tried calling someone like myself that handles financial advising and eighteen we have seen a lot of things we can help you improve your credit. Go to a podcast watching you need to video I have a website that's got tens of podcasts on there and videos to learn more about financial decisions. I can give you articles Ngo web sites and you too can expand your knowledge on many and finances. You don't have to stay behind a thaw. It's amazing how little are taught about money and science in school. And that's what you're here to do is eggs danger alone horizon. Where you can retire healthy wealthy and wise. We'll be back was more of my show. Testimony. And breaking news exclusive contests and more delivered right here rim not I like doing things doing the right choice club let's talk thirteen seventy dot com and you'll be in the just go to top thirteen seventy dot com and click on the right choice club from top thirteen seventy the right choice. South thirteen seventy is everywhere with the new toss out to get it now at times thirteen seventy dot com. Says. I hope you've enjoyed the show today my name is Debbie Lewis and it's a privilege to be able to come in and talk every week about money and finances of mortgages and real estate. And actually help people I handle a lot of different areas I'm I'm more games. Broker by trade for the last twenty years I also work in the securities business I have several million dollars undermine. Help so whether you are getting ready to retire and you have to do the 401K over to an IRA or you have gotten less damned. Maybe a life insurance policy off of someone's death and it's been. You're the beneficiary of that it's nice to know what you can do without money to make it work for you. So if you boarding got a new woody said or may be a benefit of some kind didn't you call let me try to compare for you. The new plane ends at verses the old plans sometimes we just need to change the money. In investments long term care is eating up more and more of our retirement money so why not have a long term care insurance benefit slash. Insurance policy. That pays upon your death whatever is left over in that. That's a hybrid policy I work as an independent votes in insurance. And insecurities. And winning comes to. Mortgages so I can shop in different things at different places I'm a fiduciary that means that my obligation is to do the best job I can for you. Regardless of what company is with. Or how it benefits me if you're working with someone that doesn't return your calls. You don't understand what their same. They make you fell down when you ask questions don't plumbing give me a call my name is Debbie Lewis and I'd be happy to help you let me give you my direct phone number it's 979. 2203018. And 979220301. Aims to call me anytime and we'll see next week. Right here on thirteen 70 AM had a great week. You. Okay. Texas weather can change on dime more. Monitoring. Here normally. When the weather turns severe. Turned to us for what you need to know on air and online at sock thirteen sending dot com top thirteen seventy the right choice.