Need Advice !!

[George Munoz]

Hello , I am just finishing reading Millionaire Fastlane (page237 now) and Loving every page.

Before I ask the question, let me explain the context.

For about 3 years I have been Reading books of self development , biographies ect.. because I desire to become financially Free at an early age. Like MJ, I have tried MLM's, "So called internet strategies courses", amazon affiliates you name it, flipping houses. Though my 9 to 5 always has been Italian Kitchen designer.

MJ's book has opened my eyes to see that there is no way I can scale on what I am currently doing as my 9-to5 and that the majority of my (side paths to create wealth) are wrong approaches to the fastlane, (meaning, mlm, online courses, amazon etc).

I am currently super broke living pay check to pay check, paying bills and/or "parasite debt" that now is not allowing me to save or not even enjoy a bit in life. (I have a new born, lovely wife and septson) Im 30 years old.

Now here is my question, along with what im thinking might be a way to get out temporary of debt so that I can focus on my long term goals that will create my fastlane.

I am considering changing jobs ( my 9-5) to one that pays more, the catch is that is base on commission though the potential of earning are way more of what im making is way more. I have work before in a commission based salary and is ok cos the possibility are great if the margins are good and the leads are massive and hot.

What can I do?

I still haven't found an idea to build on or something to add value on ... The only thing that has always been stock in my mind on how to build my wealth is in owning land and flip. but I need capital. At least the new job that im considering deals selling wholesale houses for investor. Im just thinking this might clear my mind and help me visualize the right approach for my fastlane.

Please advice, because right now I just feel like if im in a panic position making decisions based on my current situation of lack of money and I think that could block my vision to a bigger one.

Thank you

George M.

 

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[OldFaithful]

Hi @George Munoz and welcome to the forum. I saw your introduction in the other thread as well, but decided to just post once.

I'll be glad to offer my opinion on your situation, since you asked. However, this is just a forum on the internet filled with strangers you've never met. Take any life advice you get here with a bit of skepticism...a forum can't make your decisions for you!
GOLD - Sorry, But the Forum Can't Make Your Life Decisions For You!!

Now here is my question, along with what im thinking might be a way to get out temporary of debt so that I can focus on my long term goals that will create my fastlane.

I am considering changing jobs ( my 9-5) to one that pays more, the catch is that is base on commission though the potential of earning are way more of what im making is way more. I have work before in a commission based salary and is ok cos the possibility are great if the margins are good and the leads are massive and hot.

What can I do?

Since you asked...
I'll start by saying that I think it's a good idea to pay off all your personal debt before you start any sort of business venture(s) or even a new job. You said that you are "super broke living pay check to pay check". IMO, the 1st step is to get your spending under control. Discipline. The hard part is that it's not just your decision that matters here, your wife must be just as disciplined as you. No matter how much money you make, if you spend more than you make, you will be "super broke"! Develop the discipline to spend less than you make...no matter what. Even before you chase that next, higher paying job! If you chase the job first, you'll just increase your spending so that you are again..."super broke".

So my suggestion is to wait on the new job and first discipline your finances. That discipline will pay dividends later when you get a better paying job, pay off your debt, save some $ to start your own business, etc.

Best wishes!

 

[George Munoz]

Hi @George Munoz and welcome to the forum. I saw your introduction in the other thread as well, but decided to just post once.

I'll be glad to offer my opinion on your situation, since you asked. However, this is just a forum on the internet filled with strangers you've never met. Take any life advice you get here with a bit of skepticism...a forum can't make your decisions for you!
GOLD - Sorry, But the Forum Can't Make Your Life Decisions For You!!


Since you asked...
I'll start by saying that I think it's a good idea to pay off all your personal debt before you start any sort of business venture(s) or even a new job. You said that you are "super broke living pay check to pay check". IMO, the 1st step is to get your spending under control. Discipline. The hard part is that it's not just your decision that matters here, your wife must be just as disciplined as you. No matter how much money you make, if you spend more than you make, you will be "super broke"! Develop the discipline to spend less than you make...no matter what. Even before you chase that next, higher paying job! If you chase the job first, you'll just increase your spending so that you are again..."super broke".

So my suggestion is to wait on the new job and first discipline your finances. That discipline will pay dividends later when you get a better paying job, pay off your debt, save some $ to start your own business, etc.

Best wishes!

Thank you for response. I understand nobody can make a desicion for me.

I'll follow your advise on first get rid of debt as soon as possible and organize my bills.

Thank you for your time and suggestions.