Byron Moore, CFP® and Mike Jones

saving

Intra-Family Loans

By Byron Moore, posted October 17, 2018

The following segment first aired on KEDM 90.3.

Could an intra-family loan be the right thing for your family?

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Habits of Thrift

By Byron Moore, posted October 10, 2018

The following segment first aired on KEDM 90.3.

The secret to saving money is building habits of thrift.

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Suicide by Shortcut: Denial, Decoys, or Dedication

By Byron Moore, posted July 9, 2018
Originally published in the Shreveport Times on Sunday, July 8, 2018 and the New-Star on Monday, July 9, 2018.

Drowning Piggy Bank_small.jpg

The problem with the conveniences of a short cut are the consequences in the long-term. 

Reese and Kyle were one of the 40% of first time home buyers who hadn’t saved any money (at all!) for a down-payment. What to do?

No problem! Crowd sourcing to the rescue! HomeFundMe showed them how to solicit donations from parents and friends (online, so it was cool) so they wouldn’t actually have to go through the yucky process of saving money. 

Another option they had, according to the Wall Street Journal story about them, was borrowing the down-payment from Loftium. All they had to do was agree to rent out a room in their house on Airbnb and share the income. 

Is it just me, or does anyone else remember what happened ten years ago when we let a lot of people buy houses with no skin in the game? What happens when hard times come and they cannot (or no longer wish) make the mortgage payments? See ya!

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