I Feel Ashamed of Living in a Mobile Home

[Music] brought to you by the every dooll app start budgeting for free today I am debating if I should buy a house I currently own a mobile home that I was given to me for my family and I have it on family land um after my divorce I kind of had to restart over and after a long Le a long battle I was finally awarded so custody of my kids so my cust my kids are with me fulltime um but I live on a uh on a in a in a mobile home right now that I mean but it's fully paid for its mines but I feel kind of a little bit of Shame of it because I know because I make good money and I feel what you I make about 86,000 a year okay all right and the land that it's on is not yours it's my uh parents parents land they have multiple properties okay in the area and someone gave you the mobile home yes my parents they oh they did so they had a mobile home sitting on their land and they said hey while you're going through a hard time move into it yes they gave it to me gave me the title for it and everything but they did not give you the title for the land not for the land just the m home right okay all right um how old are you I am 35 okay all right hey you've been through hell and you you needed a soft spot to land on you found a soft spot to land that's not a bad landing spot that doesn't mean we want to stay there but it's not it's a nice thing that you're landed there okay yeah and and I spent the lessons I I don't really take the only thing I pay here is the the light bill again it's a soft landing spot that's kind of nice however it does not take you where you want to be 10 years from now 10 years from now you don't want to be owning an ancient rotting down mobile home on someone else's land so this doesn't project well into the future even though it's a very nice gift into the present does that make sense yes so we can be very grateful to Mom and Dad I'm grateful to them I think what they do is very nice but it is not your 10-year plan okay okay you want to buy something that goes up in value and you own the dirt yeah long there's no reason to be ashamed there's nothing to be ashamed about we can feel that on you and you don't need to feel that way you've been through a fight so throw your shoulders back here and figure out what do we got to do to move forward but your kids don't care about the mobile home no I'm not ashamed of it that it's a nice thing but again it's not your long term plan not because of shame but just because of math and so I spent the last year kind of just um maxing out my 401k maxing out my Roth R um I was able to save about 22,000 in my savings account the only debt I have is just a truck that I owe about 15,000 on write a check pay it off today okay now save up a good down pay or save up a good emergency fund of 3 to 6 months of expenses and then start and stop your 401k temporarily and start saving up for a good strong down payment on a house that's going to go up in value okay all right now how much land does your mom and dad have total um I would say about 15 the one I'm on right now is 2 Acres uh but they have two acres in different properties here and there they they have property manage they own a property management company is this property that you're on adjacent to their home no it's a standalone property yes okay all right well um I mean just talk to them about if they're in Property Management they know that this is not going up in value and that you don't own the dirt and so Mom and Dad I'm going to start saving for a down payment on a home which means I'm going to be selling off the mobile Hom OR giving it back to you one of the two what's it worth do you think um I would say about 4,000 it's not a lot just give it back to just give it back to them when you get ready to leave cuz they were renting it out before weren't they yes yeah you don't mess up the rental property by dragging that thing off so just just when you get ready to leave just say hey I'm going to save up money and I'm going to go buy a house but thank you so much for letting me land here on your rental property for a little bit and I'm going to give you the title of this back when I leave okay but thank you all so much and just be very grateful because you should be it was a very nice thing they did yeah but it's not your long-term plan that that it can be both things it can be a nice thing and not the long-term plan and no shame is in either thing is that okay okay yes appreciate that you're a good guy man you're making good money you fought for your kids you landed in you got good family that helped you land on a soft spot that's nice man there's a lot of good there's a lot of good in this story Philip thank you say I've been blessed I but you have been in the middle of a dadgum tragedy you know you did it it's good and he saved up 22,000 and he's given himself money 1K so he's paying attention that's right and now he's going to get a massive raise when he pays the truck off today exactly oh I forgot about that little detail we want that it's a big deal and Dave we got a lot of new people all the time joining in I think this is a this would be a good refresher here of why we tell people if they're not familiar with the baby steps or they've just joined us in his situation it's going to change his life if he actually gets in order and does them the right way that's why we're telling him to cut it today cut the payment today write a check get rid of the the truck yeah well I mean all that money that you're you're wasting on that truck payment goes to build up savings really fast and this guy's a natural born saver yeah partly because he's been through hell and he's real careful right but um but I mean just accentuated his nature is what it did and so just lean into that and go okay now I don't have a truck payment now I don't have a mobile home payment cuz Mom and Dad gave it to me I'm living here all I got utilities and I'm making 85k I got to feed some kids and other than that let's go to town baby boom boom boom boom as fast as he saved 22 he's going to say 52 that's right and that's where he gets the house y That's The Magic of the baby steps right there big time and and listen there is nothing snobbish about a couple of guys in Tennessee being telling you not to do mobile homes okay it's nothing about that at all it's not it's not a class Warfare thing it's not anything it's a simple math thing they go down in value when you put your money in things that go down in value it makes you poorer why is this hard so a mobile home is like a car you sleep in it goes down in value and so you don't go buy a $55,000 mobile home and then look up 10 years later and it's worth $10,000 and wonder why you're broke people don't do that buy something that goes up in value you're better off to rent at least you're not losing while you're paying payments when you pay payments on a mobile home you're paying the payment and you're losing the value it's like when you're paying payments on a car and it's going down in value so you know I got friend that's in the mobile home business dude would you quit trashing mobile homes I I don't trash mobile home it's not a personal thing dude it's simple when you start making one that goes up in value I'll advertise for you but until then we're not going to talk about it we're going to I'm going to tell people put money it goes up you know my grandpa said I put money I was bragging about my car when I was in college and he's like what's that I said well it's kind of like an investment he goes honey my investments go up you know well duh right and that that's the thing so you you really want to have Investments like your personal residence going up in value and the problem with a stinking mobile home is they set it on a piece of dirt and the piece of dirt goes up in value faster than the mobile home goes down so it gives you the illusion you made money you didn't the dirt just saved you from your stupidity so don't buy mobile homes now he didn't buy one Mom and Daddy gave him a whole $4,000 one this is not a you know this is not they didn't give him the Taj Mahal of mobile homes for sure but but that that's the deal guys it's real simple that's why we tell people to do that go buy things that go up in value this is what rich people do that's how they became rich people and that's how they get rich get richer and the poor get poorer create your free every doll budget today the simplest way to budget for your life life