Dave Says, Never Finance Depreciating Assets

It’s hard not to be envious of someone who has a newer, shinier, larger rig than the one we’ve got. While our rig is only 5 years old and in great shape, it’s often challenging for me to put that envy aside and remember that our number one priority is to live debt-free, within our means.

After all, as Dave Ramsey says, we’re counting pennies and living like no one else, so that one day, we can live like no one else.

Last year I started to get tempted into getting into an RV loan for a bigger rig. As our business needs grow and we try to squeeze our business and home into a 24′ fifth wheel, I got crankier every time I felt the constraints of our limited space.

I even tried to rationalize going into debt over a new rig, because our RV is our primary residence. Since Dave Ramsey says a principal residence is about the only thing that’s acceptable to finance, I desperately wanted to believe that he would agree with my rationalization.

The only way to know for sure, was to give Dave a call on his daily radio show.


So I did. And I got through. You can read the entire conversation in our LiveWorkDream blog, but here’s what he said about RV financing, in a nutshell:

 . . And so you don’t want to finance things that cost you. You don’t want to finance anything, but for sure you don’t want to finance something that’s going down. That’s the direction. I wish I could tell you I thought it was a good idea, but no. same thing I would tell you by the way if you were living on a houseboat. No I wouldn’t finance it. No, I wouldn’t finance the move up, and no I wouldn’t finance the move just because it’s the primary residence.

Dave’s advice? Dip into savings to make up for some of the difference between the trade in value of our current rig and a new one, then save our pennies for the rest.

And that settles the discussion. The only thing you should go into debt for are appreciating assets, not ones that take a dump the minute you drive them off the lot.

Duh. Somewhere way back in my brain, I knew this fact, but I got swayed by all of the pretty new RVs I see all summer long. It was great to get a reality check from Dave in front of a few million listeners!

 

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More Raves About Income, Anywhere!

Are you still thinking about how to earn a living from home, the road or the outback?

Our book, “Income, Anywhere!” is getting rave reviews from aspiring nomadic business owners and other people who want to work from home. Here’s what one recent reader had to say:

“I downloaded and already read the entire book. It is a great resource and it has given me some much needed inspiration and some faith that I can do this!!”  – Facebook fan

Income, Anywhere! is packed with a ton of resources for everyone who dreams of self-employment but isn’t sure where to start. The book outlines income generation methods that work for us and anyone from creatives to mechanics. Another aspiring entrepreneur recently told us:

“I can not even believe how many resources are available, I read a lot and I don’t think I have ever read a book that had so much information, most books don’t share information, they share stories! As I was reading it I was wishing I had found it sooner, because everyone I talk to and ask about the blogging and online stuff over the years don’t have any answers or know how this stuff works (of course I ask computer people thinking they would just know, not that they do any home based computer business) and your little book answered every single one of my questions I had about how that income stream works! AWESOME!” – Kim

You can make money from anywhere if you have the desire to work for yourself, and the passion to make your dreams come true.

Download Income, Anywhere! to take charge of your own destiny today.

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Temporary Retirement Story Sparks Spurn and Vitriol By Non-Believers

Why is it that no matter how much you show some people how to get free of the shackles of a traditional, debt-laden consumer existence, the more they lash back with every excuse about why they think it can’t be done?

Today on NPR’s Morning Edition, a great story about one family’s sabbatical sparked a fascinatingly tragic debate between those of us who know and believe living outside convention can be done, and those tragic individuals who won’t open their minds enough to understand that yes, anyone can do this.

Seeing The (Northern) Light: A Temporary Arctic Retirement,” spotlights one family’s journey into a year of simplicity while living on a small Norwegian island.

“For us, this was not an escape. We really liked our lives. But we still wanted a year where we could just do something completely different,” said Kristen Chen.

NPR tells about their year in the Arctic Circle better than I can. Listen to the story here to see how they did it, then scroll down to the comments and be prepared for the assumptions, hostility and accusations that listeners threw at this extraordinary family.

“Wonderful idea…and then I got depressed. Unfortunately, most of us that would greatly benefit from this kind of life enhancement can not possibly afford to escape from the cycle of bills that is our life. I couldn’t afford to take off a month, much less a year.”

“Mr. Chen ,you’re are being dingenuous. According to this story, you have a “well paying” career which affords you a privlige not many others have. In fact this whole piece smacks of NPR’s selling out top economic elites”

“I love this story but the truth is most people cannot do this. I don’t own a home nor do I have credit cards, but I highly doubt the good people at Sallie Mae would let me take a year off from paying on my student loans. Still, it is a nice idea for someday!”

“Very unusual. It’s a shame this sort of thing is within the reach only of the fairly well educated and well off. I can’t see your average auto mechanic or sales clerk doing this.”

This sounds too familiar to us. People make assumptions about Jim and I all the time. When they see us working from our laptops while sitting in a hammock, they assume we’re rich. But if they see us while we’re workamping at the dude ranch like we are now, they assume we’re broke and have to do it. If only they would stop assuming and ask us how we live so freely, they’d see there is another, better way to live than how we’ve been taught all our lives.

When you dream of having a new, different way of life, what are some of the assumptions you make?

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Shorten Your Starting Cycle

We’re in love with Jon Acuff’s new book, Start: Punch Fear in the Face, Escape Average and Do Work that Matters

Stay tuned for a full review, but for now, if you want to learn how to lead an exceptional life, here’s why you need Acuff’s book.

Keep the Momentum Going

Whether you’re a stand-up comedian, a sales rep or an athlete, keeping your momentum going is critical for success. In Start, Jon describes how his friend John, a stand-up comedian, can get back on stage night after night despite the occasional flop.

“John learned that if he can shorten his starting cycle, failures don’t have the time to define him. At the end of the night, what happened at 7:00 p.m. doesn’t hold a whole lot of weight when he performed successfully at 8:00 p.m. and 9:00 p.m. He starts so often that the shadow of one failure looks tiny in the light of all the new opportunities for success.”

You’re likely to bomb the first few times you attempt to achieve success in your line of work. But if you keep your momentum going and start again and again, the odds for succeeding are in your favor. So keep up the momentum and remember, the only way you can fail is if you quit.

 

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Another Remote Income Opportunity with Travel Blogging

Our travel blog, LiveWorkDream.com, began in 2006 as a vehicle to help sell our business, home and Northern California lifestyle. Today it serves as a chronicle of what it’s like to live as full-time RVers while reflecting on the values we hold close, like being self-employed, living simply and not succumbing to a soul-sucking consumer lifestyle.

LiveWorkDream.com also provides a small revenue stream for us. It’s not huge by any means but like we’ve said before, everything adds up. We know that if really wanted to make money from this blog, we would find the time for the revamp and site overhaul that we’ve been talking about for years. Meanwhile, we do see a few cents here and there which makes keeping it up on a basic level fun and worth the little effort we put into it.

If you’re a fellow adventurer and are interested in starting your own travel blog to feed your own income stream, this fantastic step-by-step guide from Wand’rly Magazine is a great place to begin:

How to Create Your Own Travel Blog

If you’re a total beginner, the folks at Wand’rly provide a comprehensive guide to getting on the travel blogging road. As for how to make money blogging, one of the best things about this guide is its truthful approach about whether or not that’s possible:

But How Can I Generate Revenue from My Site?

Ah, “generating revenue”, every bloggers dream! Truth be told, making money from a blog is not easy. If you’re doing this primarily for fun—to share your adventures online, to record your travels, or to keep in touch with family wherever back home used to be— then you may be able to make a few bucks from your site. If you envision this as a long-term money making strategy, that is also obtainable…however, the key term there is “long-term”. It can, and usually does, take a year or two before a site is even noticed by enough people to make selling ads viable, and even then, ad sales alone may not be enough to make you the kind of real money you could make by, oh say, working 30 hours a week for minimum wage.

That said, we’ll show you how to get ads on your site, and we’ll show you a couple of other ways to make money from your blog as well. Your results may vary, no promises are being made, we’re just giving you some places to start and you take it from there.

If you’re even remotely interested in starting your own travel blog or want to dive into your basic blog a little further, check out Wand’rly’s expert instruction.

“How to Create Your Own Travel Blog”

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