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Never Take the “Easy” Way – Course #5

Why does everyone take the easy way in life?  It’s simple – it’s easy!   It is much easier to do things the fast “easy” way instead of doing things correctly and thoughtfully.   The easy way has an immediate reward.   The correct and thoughtful may reward you many-fold over a life time.  One of the most important lessons to learn for financial success is to never take the “easy way.”

Taking the “Easy” Way Destroys your Chances for a Financial Future

Taking the “east way” destroys most people’s chances at a successful financial future.  By taking the easy way, you are essentially trading your future financial success for the “now.”  If you want a car “now” by financing it, then you are destroying your chances at saving for investments in the future.  If you buy a mortgaged house, then you are destroying your chance to learn how to acquire a house (or many house) paid-in-full by careful financial planning.

Almost every time you take out a loan, you are trading your financial future for the immediate.   Credit Cards and loans are an easy way to pay for life expenses, but they doom you to financial failure almost every time.   In fact, if you are taking out loans for living expenses, you are likely already to financial planning and are “taking the easy way out.”

Taking the “Easy” Way Destroys your Motivation for Learning About Financial Things

If mortgage loans were outlawed next week, do you think that would end most people’s desire to own a home?  Absolutely not!   Most people would immediately seek knowledge or understanding on how to buy a home paid-in-full over some short period of time.   Perhaps, they would create other creative ways for purchasing a home that would not involve mortgages.  In any case, the public would quickly be forced to gain considerable financial knowledge and discipline in order to achieve the now “harder” goal of purchasing a house.

Financial Education Course 5 - Never take the easy wayMortgages or other financial practices do not need to be outlawed: you can chose to gain considerable financial knowledge and discipline to take the “harder” way even if “easier” options are still available.  The real twist to the “easy” versus the “hard” debate  is the very words in which they are described.  In reality, the “hard” way of doing things is actually much easier over time if it is applied.   The “hard” way is actually not hard at all: it is just the correct and moral way of living your financial life.

We all have heard of the concept of being a good steward with our lives.   We all have the moral responsibility to manage our lives in the most productive and orderly way possible.   This is the very fabric on which our society is built.  When you do things the hard or correct way, then you get to very much take advantage of the peaceful financial systems that our present in our world.  You essentially are able to allow “money to work for you” – instead of just “working for money” your whole life.

For example, a person that diligently studies and saves to buy a paid-in-full home will be much benefited by not having to pay mortgage payments.  If he was able to acquire the paid-in-full home over two to three years, then what is stopping him in the future?   The same person can acquire one, two, or maybe thirty more paid-in-full properties over a lifetime.  He can receive rental income from these properties.  From this income, the decreased demand for “job” income can even give the person more time to build their financial knowledge.  Later in life, this same person could have a multitude of real estate or business-based assets generating income.

Or, the same person could have gotten a mortgage.  His financial “mind” would have stopped there.  He would probably still be paying on the same mortgage twenty years later.  He would only partially own one mortgaged house.

Conclusion: The “Easy” Way is Dangerous

Do you understand now the danger of doing things the “easy” way with finances?   The “easy” way is actually a deception: it is much, much harder over a lifetime.   If your financial past is dominated by the “easy” way, you may need to completely start over in life.   Your commitment to following the “harder,” correct way of approaching finances may require you to make some drastic changes.  These changes may be incompatible with your previous, “easy” way of going about your financial life.

Test Your Knowledge!  Take The Quiz!

Quiz 5 – Never Take “Easy” Way

Future Courses Will Be Released Soon!

Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time!  – Course #7

FINANCIAL EDUCATION: Get Dynamic! Get Serious!

Sometimes you have to get dynamic to achieve anything worthwhile in life. You have to be serious about achieving your financial goals. This can mean taking drastic steps to radically transform your financial life.

Choosing To Do Things Differently

Time for Change We have all heard the common phrase about being “crazy.”  The phrase goes like this: it is crazy to keep doing the same things and expect different results.  In order to truly apply your “financial overhaul,” you must fully commit to radical changes in your financial life.   If fear or other negative emotions prevent you from making these radical changes, then you will see little or no results.  

A New Dynamic Life Based on Financial Truth 

In order to be successful financially, your new life must be based on financial truth. In order to put financial truths into practice, you must commit to the dynamic of “learning and applying.” This may require drastic changes to occur in your life as you apply new financial truths.   This is the part that will require you to be dynamic.  You must walk on new ground as you make these dynamic life changes.

Being Serious Requires Parting Ways With What Is Holding you Back

Being serious requires parting with the old ways of doing things.  This can be much more difficult to many people than what you may think.  It may be the single most difficult action required to having a successful financial overhaul.

Parting Ways With “Bad-Deal” Material Possessions 

The hard part for most people is parting ways with whatever is holding you back financially. For some people this may be a financed house or car. You may need to sell these items or even allow the creditor to take them back. You will need to do whatever you can to break your previous cycle of bad financial habits. 

You may need to start over from the beginning, decreasing your expenses to as low as possible. Then you can focus on your financial education and growth.  Believe me, do not dread it or be afraid! It can be fun!  Your stress will likely reduce.  You will see yourself slowly become both financially successful and responsible.  It will be worth the sacrifice.  

Parting with Bad Financial Habits

Financial obligations are not the only problem:  you must also part ways with bad financial habits.  Bad financial habits are deeply ingrained in most of us. Using loans and credit for personal uses are some of the worst financial habits.  Most people think nothing about getting a mortgage or car loan, yet these are very practices that cripple people financially.   Most people want the quick, easy route to achieving their financial goals.   This “quick and easy” mentality is the root of most bad financial habits.  This root mentality of the “quick and easy” must be forever rejected in your lives.

If you take the “quick and easy” path with finances, you will never acquire financial knowledge or apply it.   If you are patient and disciplined, you will be rewarded with ten-fold more financial blessings than if you always take the “quick and easy” way of getting what you want.  

Some Habits Die Hard 

Some habits such as addictions or “morality” issues die much harder than the more basic bad financial patterns.  If you are plagued with an addiction or other life-destroying vice in life, you need to seek help from your minister, a counselor, or faithful friends.   These people can help you make a plan of action and keep you accountable.  These people can help you deal with the deeper heart and truth issues that can prevent you from achieving financial success in life.  If these people you seek out cannot help you, they will likely help you find someone who can.  Be honest and accountable.   Seek help humbly and you will likely find it!  After getting help, you will have a better foundation to start building your new financial life.  

Conclusion: A New Life Requires Major Life Changes

A complete financial “overhaul” will not happen without serious commitment to dynamic change.   If you truly want a new, better financial life, then you must cast off your old ways of thinking.   The old financial ways in your life must become repulsive to you . . . they are actually working against you!   Putting into practice financial truth will radically transform your life.  It is a radical life decision that you will never regret.  


QUIZ 4 – Get Dynamic! Get Serious!

Future Courses Will Be Released Soon!

Never Take the “Easy” Way – Course #5
Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time!  – Course #7

Income Up! Expenses Down!

Financial Education Course #3

Income Up Expenses Down

One fundamental concept to financial success is simple: increase income and decrease expenses. Although this concept is very simple, most people do not apply it. Throughout your life, your focus should be on increasing your personal income and decreasing your personal expenses.

Decreasing Expenses

Most people have misplaced goals when it comes to finances. One misplaced goal is to get the nicest house possible. Another misplaced goal may be to finally save enough money to buy a dream car. The problem is this: most people focus on what they want instead of the best way to get it. This focus – on achieving your financial goal without focusing on the method for achieving it – is doomed to failure.

Increasing Income

Increasing income is kind of a “no-brainer.” We all know the benefits of increased income. However, have you ever really studied diligently how you could run a business or increase your knowledge towards the goal of increasing income? Knowledge is power. Acquiring assets and financial knowledge almost always increases your income. For instance, when was the last time you went to a seminar about marketing or website building? How much time do you spend learning about how to acquire and manage assets? If you constantly “build” yourself up with personal abilities and knowledge, your income will increase. However, an important warning is necessary here. If you do not first apply the principle of decreasing expenses, all of your increased income will be worth absolutely nothing. The tendency of most people is to immediately find ways to spend increased income. A nicer house, better cars, indulging in hobbies and other personal habits – these things have a natural way of immediately exhausting additional income. First make a commitment to decreasing expenses. Make them as low as possible! Then, make a commitment to only use your increased income for new assets and other investments. If you do this, a better overall financial life will naturally follow.


Math Never Lies. We have all found ourselves in the dynamic of wanting nicer things in life. Houses, cars, vacations – we want it all and we want it now. Sometimes the “right- now” desire to live life overcomes our math skills. In order to truly have an easier financial life, we need to always be focusing on increasing our income and decreasing our expenses. The math of this truth never lies.

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Get Dynamic! Get Serious!  – Course #4
Never Take the “Easy” Way – Course #5
Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time!  – Course #7

How to Change your Financial Worldview

Financial Education Course #2

Indianapolis Bankruptcy Attorney John Bymaster explains the importance of changing your financial worldview.

Changing your financial worldview is a much larger task than what you may first anticipate. It requires a tremendous amount of dedication. It requires you to make drastic changes to how you approach life. It usually also requires you to do the exact opposite of what most other people are doing around you. You may feel like a loner, the only person in the crowd with vastly different financial goals.

The best way to explain how to change your financial worldview is to give some examples that will start moving the way you think in the right direction. Remember, changing your financial worldview is something that takes commitment. Massive changes to your life will be required. Below we have explained five examples of how your financial worldview will may need to change.

1. Be Productive and Make “Work” Your New Best Friend

There are no limits to those who choose a good attitude about work and business. The popular personal finance book, “The Richest Man in Babylon” by George Samuel Clason, gives an example of someone who worked from the bottom to the top by making work into a “best friend” instead of a mortal enemy.

If we fear work or make it our enemy, we will never be able to open a business or be successful in our employment. If we drop all our fears and bad attitudes relating to finances, we can start truly be productive and excited about financial things instead of dreading them.

2. Make it your Goal to Learn About Money the Same Amount of Time That You Work for It

How many people do you know that will punch in and out faithfully everyday for work, spending at least 40 hours towards working each week? Out of those people, how many people do you know who spend even 15-30 minutes each week learning about money or how it works? The answer is not too many – almost none at all.

Why is this? Learning about business, financial skills, and how money works – these are all very easy and enjoyable ways of making your financial life much easier. If you spent as much time learning about business, new skills or abilities, and money as you worked each week, your net worth and financial understanding would drastically increase in a short time.

3. The Working Hard and Working Smart Equation

After you have decided to gain financial knowledge, you can start putting that financial knowledge into effect. Two parts exist in the financial equation. In this equation, your hard work is essentially multiplied by the “smartness” of your work. These two factors multiplied together are what determines how financially successful you will be.

How many people have you seen working hard but getting nowhere financially in life? How many easy-going, intelligent people have you seen who have some financial knowledge but are unwilling to work to be successful? These two factors, hard work and smart work, must always be used in conjunction with each other in order to achieve financial success.

4. Decrease Personal Expenses and Increase Income

Many people are thrilled to purchase a beautiful house on mortgage and new financed cars whenever they find themselves able to make such payments. Unfortunately, such thinking usually leads to either financial mediocrity or even financial failure. Instead of such goals, your primary financial goal should be to decrease your personal expenses to as low as possible.

With the goal of decreasing your personal expenses, you can still many times achieve the purchase of such items such as nice accommodations and vehicles. However, the route to these desired items is vastly different. Many financially successful people pay very little (or virtually nothing) for the lifestyles they enjoy. Their corporations or rental income frequently offsets all of their personal expenses.

With your expenses as low as possible, you can use anywhere from 50% to even 80-90% of your income for investing in new sources of income. The process of wealth accumulation never ends in such an equation. However, if you start out with high personal expenses, you will never be able to break free of the monthly bill payment cycle that dominates the entirety of most people’s income.

5. Do Not Care About Appearances. Do not “Keep up with the Jones’s”

Many people purchase automobiles and houses in order to help their self-esteem. They know that they work hard and feel like they “deserve” some nice things in life. However, this way of thinking is very detrimental to gaining financial knowledge and breaking out of the monthly-payment cycle.

The only thing that ultimately matters is the reality to your finances. If you have hundreds of thousands saved but drive a modest car, does it matter what other people think? From now on, judge how much your net worth is gaining each year in order to determine your financial or other “worth” you desire. Remember, financed items are really only “on rent” anyway. You do not own any part of them unless you are taking drastic steps to quickly pay off the debt. Do not let financed items be your self-esteem booster. Make responsible financial choices that will lead to genuine accumulation of wealth.

Assignment: Read or Listen to the Book, “The Richest Man in Babylon” by George Samuel Clason

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To move on to Financial Education Course #3 click here!

Stay tuned for Indianapolis Attorney John Bymaster’s next Financial Education Courses!

Income UP – Expenses DOWN! – Course #3
Get Dynamic! Get Serious!  – Course #4
Never Take the “Easy” Way – Course #5
Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time!  – Course #7

Financial Class After Bankruptcy

Financial Overhaul? Why would I need that? – Course #1

Living with a bad financial history is a pattern. The pattern always repeats itself. Nothing ever seems to go right. Money is always scarce. For many people who have recently filed bankruptcy, this is the reality they have always faced in the past. Finances are always failing.

This is why many people who file for bankruptcy need a complete financial overhaul. The old patterns and ways of doing things simply do not work. A totally new frame of understanding must be achieved for future financial dealings to truly change. With this reality in mind, we have created the 7 courses entitled, The After-Bankruptcy-Financial Overhaul.

Still, why could you need a complete financial overhaul? Let’s consider some of the below scenarios. Scenarios can have a way of showing need that other arguments cannot:

Scenario One: The Automobile Dilemma

Free Financial Classes

You recently encountered a major breakdown with your automobile. The repairs required are costly and uncertain. You have no savings prepared (as usual). You need to get to work or you will lose your job. You call around, but the commitments you can find for rides to work are shaky at best. What do you do?

The Wrong Choice: Out of desperation, you buy a financed vehicle at wherever dealer will offer you financing.

In our experience, the most common choice (poor choice) is to purchase a financed vehicle with whatever place will provide financing. Do you know that if you buy a financed vehicle in such a dilemma you could be guaranteeing that you will need bankruptcy soon again? Such vehicles are frequently coupled with impossible loans to pay. Even if the loan is fair and affordable (which is rare now days), what will you do if the car fails down in the next five years?

In such situations, repossessions are common. The creditor will eventually go after the deficiency which can sometimes be much in excess of $10,000.

Scenario Two: My New House!

You know how much housing costs (or so you believe). You know full well that it always costs over $1000 per month in rent or mortgage payment to get a “nice” place. Your bankruptcy went well, a couple years have passed. It’s time to finally get a nice home! You arrange a house purchase and get financing through a bank. You thought that your payment would only be $1050 per month with the mortgage calculator. You are surprised when you find out the payment is going to $1348 per month with insurance and taxes.

The Wrong Choice: Falling into any type of expensive housing trap like the one described above.

In our experience, the above describes a noble goal that so many of our clients hope to achieve: owning their own home. However, if you purchase a home like the one above you may be guaranteeing that you will need bankruptcy again within the next 8 years. For most people, the above property setup will be impossible to pay over the long term. For those who have the financial resources to do pay it, getting into such a deal is still a waste of your financial time.

This house will probably require almost $2000 to operate each month with utilities and maintenance added. This requires $24,000 of net income to only go towards housing! This amount would take up the vast majority of your precious income, leaving little to pay for the rest of the bills. Any job loss or unexpected expense would spell instant failure. If no unexpected things occur, you will be using every piece of your income to support your home. You will never be able save or retire. Your net worth may be $0 now and stay $0 until retirement age.

Conclusion: You need a Financial Overhaul to Live a Better Life

Many people live paycheck to paycheck. They live in a pattern that goes from crisis to crisis. If you would like to have free financial wisdom to break this cycle, unlimited amounts of materials are available to you. But, why not just start with the commitment to through our financial overhaul course. You can start here and then make a commitment to continue learning. This will result in a refined, much-more-enjoyable financial existence!

This is where the “rubber meets the road.” It’s all about truth. A lot of changes, big changes, will need to be made. If you are willing to commit to drastically changing your financial viewpoint and habits, then a whole new exciting world will soon open for you to enjoy!

Take the Quiz!

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To move on to Financial Education Course #2 click here!