how to save money | The Kwak Brothers

/*! elementor – v3.6.5 – 27-04-2022 */
.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}

The Place Where
Mind & money Meet


/*! elementor – v3.6.5 – 27-04-2022 */
.e-container.e-container–row .elementor-spacer-inner{width:var(–spacer-size)}.e-container.e-container–column .elementor-spacer-inner,.elementor-column .elementor-spacer-inner{height:var(–spacer-size)}

Follow Us

/*! elementor – v3.6.5 – 27-04-2022 */
.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-tablet-0 .elementor-widget-container{line-height:1;font-size:0}.elementor-widget-social-icons:not(.elementor-grid-0):not(.elementor-grid-tablet-0):not(.elementor-grid-mobile-0) .elementor-grid{display:inline-grid}.elementor-widget-social-icons .elementor-grid{grid-column-gap:var(–grid-column-gap,5px);grid-row-gap:var(–grid-row-gap,5px);grid-template-columns:var(–grid-template-columns);-webkit-box-pack:var(–justify-content,center);-ms-flex-pack:var(–justify-content,center);justify-content:var(–justify-content,center);justify-items:var(–justify-content,center)}.elementor-icon.elementor-social-icon{font-size:var(–icon-size,25px);line-height:var(–icon-size,25px);width:calc(var(–icon-size, 25px) + (2 * var(–icon-padding, .5em)));height:calc(var(–icon-size, 25px) + (2 * var(–icon-padding, .5em)))}.elementor-social-icon{–e-social-icon-icon-color:#fff;display:-webkit-inline-box;display:-ms-inline-flexbox;display:inline-flex;background-color:#818a91;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;text-align:center;cursor:pointer}.elementor-social-icon i{color:var(–e-social-icon-icon-color)}.elementor-social-icon svg{fill:var(–e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#818a91}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}

Facebook


Instagram


Youtube

Subscribe Now

Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

Read More

Elementor #11260

Read More

BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

Read More
Older Posts

January 4, 2021

10 Things that Millionaires don’t Buy… | Financial Minimalism

10 Things that Millionaires don’t Buy… | Financial Minimalism. As you can imagine, we’re EXTREMELY frugal and careful with our money. Instead of splurging and wasting a ton of money on things that aren’t fruitful, we’re extremely focused on investing our dollars that have a higher certainty for returns. So here are the 10 things that we don’t buy or spend money on to be financially frugal. Some would call this financial minimalism or financial frugality. We just call it being smart with your money 🙂 By following these steps, we’ve been able to make more money and save money in the process: 1:12 #1. Lottery Tickets Millionaires don’t leave their money-making activities to chance but rather focus on creating value by building products and services that solve another’s problem. Instead of throwing the extra $20, $40, or even $100 into a lottery ticket, why not invest it. And not just into stocks, bonds, or mutual funds but also investing in knowledge, starting your own business, or improving your health? 2:56 #2. Gambling/Betting Just like point #1, millionaires don’t spend (or waste) their money on gambling or any serious betting. 3:36 #3. Fast Food / JunkFood Now, I’m no nutrition or a medical professional but I know by avoiding fast food and adopting a healthier diet, I can reach peak performance in my business. 5:23 #4. Get Rich Quick Scheme/MLM Money always follows value. If you participate in a business model that doesn’t create any actual value, this is a failing business model and therefore, your investment has gone to waste. 7:07 #5. Brand Name Clothes One of the ways that I get away with buying clothes is through my business. Because we have a YouTube channel as well as making frequent public appearances, my brother and I are allowed to buy certain clothes through our business which we can ultimately write it off for tax purposes. Bringing Steve Jobs back again, he was often known to wear the same thing over and over again. This also has to do with the fact that Steve simply didn’t want to spend his mental energy to decide what he wants to wear. Instead, he made a single decision upfront to wear the same thing over and over again so that he can invest his mental energy in building his company at the time. 9:04 #6. Going Out/Alcohol Instead of going out or spending money on alcohol, we invest that time and money to growing our business. 11:19 #7. New Phones Every Year Millionaires don’t buy the “newest” gadgets each year… Even if they do, they have their businesses buy them and such investments have to serve a specific purpose in helping them grow their business. 13:02 #8. Fake Rich Spending This one is obvious… true millionaires know that they are – they don’t fake it by spending an insane amount of money to look rich. 15:19 #9. TV Subscriptions Instead of watching TV, movies, or shows that aren’t fruitful, millionaires instead watch courses, CEO interviews, Ted Talks, and other content that help and add to their businesses. 16:46 #10. Overpriced Real Estate/Investments Not only true with real estate but millionaires are very careful when investing their money. You have to know WHEN is a good time to buy and for what price.
January 4, 2021

How to pay off a 30 year home mortgage in 5-7 years (2021)

How to pay off a 30 year home mortgage in 5 to 7 years. This is the most up to date version of our explanation on how you can pay off a 30-year mortgage in just 5 to 7 years on average. In the video, I will demonstrate how a banking strategy can be used to pay off a 30 year home mortgage in just 5-7 years without sending double payments, changing your current level of income, without refinancing, without loan modification, and without hurting your credit. Download Our FREE Strategy Calculator: https://chopmymortgage.com Key Parts: 0:00 Introduction 0:40 Disclaimer 0:54 Why is Your Mortgage Dangerous? 6:11 Why you should never Refinance!? 8:13 Intro to HELOC 8:32 HELOC vs Mortgage 11:19 Intro to Average Daily Interest 15:00 Intro to 1st Lien HELOC Strategy 22:52 Recession Impact on HELOC? 23:51 Free HELOC Calculator Download Disclaimer: I am not an attorney, accountant, or financial planner. This video is intended to be an educational video. This video should not be taken as financial, legal, and/or tax advice. Sam Kwak is a Certified Credit Counselor #11613. This is not a credit counseling session. I suggest that all viewers consult with professionals prior to implementing any or all parts of our strategy. RECAP OF THE VIDEO: I start this video with an explanation as to why a 30-year mortgage is like a trap for 21st-century homeowners. The reason being is that Americans (and Canadians) experience frequent life changes that cause them to move or they are eluded to refinancing because the refinance rates might be low. Unfortunately, such an event happens before 7-10 years into the mortgage. In the first 5-7 years, the vast majority of your mortgage payment goes straight to interest payment. A very small portion of your monthly payment actually goes to pay down the principal balance of the mortgage. Fortunately, there is a way to escape this. We’re going to introduce a new tool to help us with this called a Home Equity Line of Credit (HELOC) A HELOC is different than a traditional mortgage in several ways. The two main things to remember are (1) a HELOC is a revolving line of credit – which means you have the ability to pay back and re-use any available limit of the HELOC; and (2) a HELOC uses average daily interest calculation (simple interest) instead of an amortization interest calculation which is used by your 30-year mortgage. There’s a common myth out there saying that HELOC interest rates are always variable and higher. This isn’t true… There are HELOCs out there with fixed interests rate and some even have lower interest rates. Now, in 2021 – the best version of this strategy (in my opinion) is to use a 1st lien HELOC to completely replace your mortgage. By doing this, we now only have one debt against your home. No more 30 year amortized mortgage! Just a 1st lien HELOC. With the 1st lien HELOC, you’re now able to deposit all of your income (and event savings) into the HELOC balance to reduce the average daily balance – which ultimately means a lower interest amount you’ll pay on a daily basis. Doing this will keep the interest bill low while still being able to draw the funds out for expenses, emergencies, or even a rare investment opportunity. Now, you may have questions such as a.) couldn’t the banks freeze my HELOC? b.) are the banks still lending HELOCs? c.) how do you qualify for a HELOC? d.) What if I don’t have any equity? – I answer most of these questions on our […]