One Man’s Debt is Another Man’s Treasure
By: Bradley Jarryd
Tags: Debt, Spending, Money Mindset, Money, Investing

Photo by Alex on Unsplash

Everyone has a light side and a dark side, a yin and a yang. My light side wants the best for you. It wants you to prosper, exude vibrancy, and love deeply. My light side wants you to figure out your finances, eradicate debt, and live out your dreams. As a Dave Ramsey Preferred Finance Coach, you would hope that’s what I want for you, and it’s true….for the most part.

To be honest, there is a dark side of me, a minority side, that wants you to buy another Tiffany’s bracelet on your Amex. It also wants you to lease a new Land Rover and move into that dreamhouse even though we both know your champagne taste is only backed by a beer budget. Quite simply…

My dark side wants to gain from your impending demise.

You see, for the last 9+ years, as I have been figuring out my career, my relationships, and my life as a whole, I have been sacrificing a lot. It’s for good reason. I want to retire asap and I have a plan for it. I currently have enough in savings to put 20% down on a solid sized multifamily unit back in my hometown of Tampa. This would provide me monthly cash flow and serve as the starting point of my mini real estate empire.

The only problem is that we have been in the longest bull market (period of economic expansion) in the history of the US and I want a much better deal than what I see.

I’m kind of like a cheetah hiding behind a bush waiting for the cocky gazelle to carelessly walk by, except this cheetah has been behind the bush way too long while all the cheetahs have been partying with their other friends.

Don’t misunderstand me, I’ve had a great past few years, but definitely could have gone on more vacations, had a nicer car, and a more cushy pad to crash in.

When the economy slows down, inflation settles, and jobs and loans are much harder to come by, I will be in a position to throw a lot of cash at desperate sellers that bit off more than they can chew. These speculators didn’t do their due diligence, bought real estate without a strategy (except for “it will be worth more next year”), strived to keep up with their peers with frivolous purchases, and constantly fed their egos and starved their souls.

While they will be left in shambles, left wondering “What happened?”, I will be murmuring “It’s about damn time!”.

The majority of Americans’ addiction to overspending will be the minority of Americans’ pathway to financial independence. During the next recession, there will be a whole field filled with gazelles to chase down but only a few cheetahs in a position to take advantage. So to you, my message is this:

My light side wants you to get your shit together. Do some research, pay off your debt, act like an adult, and be rewarded like one so you can prosper long term and live a wonderful life the way you always envisioned.

My dark side wants you to remember YOLO, keep overspending, buy that new outfit, go on that vacation, get that 5 series BMW on a 7-year payment plan, and enjoy Coachella until your rewards card is maxed out. I mean…

I’m not looking for a bidding war on my ideal investment property so please remove yourself from the equation.

This all may sound harsh and borderline evil, but that’s the point. If you’re someone that enjoys the present too much to plan for the future, that’s fine by me. I would love for you to think more about the future version of you and your family which you’re harming by only focusing on having fun in the present, but if you don’t care, then so be it. I and other mature and long term planners will reap the benefit.

If you decide to change your mind and get on the right track, there are plenty of ways to get started. One suggestion is starting from this little known website called Google. Search “Dave Ramsey” and listen and read everything you can.

If you decide “Eh, screw it! I’m having fun!”, please keep the Bimmer in mint condition. When it’s repo’d from your driveway as your judgy neighbors look on and I buy it at auction for $12k, I don’t want to have to deal with any mechanical issues. Thanks.

Bradley Jarryd

Dave Ramsey Preferred Finance Coach

The Millennial’s Guide to Money // TikTok & IG: @IamBradleyJarryd