The 2 Most Important Decisions Each Day 

The 2 Most Important Decisions Each Day   These will determine your level of success   What you read   Who you spend your time with

These daily decisions directly impact your success.

Every day, we have decisions to make. These decisions, compounded over time, ultimately determine where we end up. This is true with business, money, relationships, health, and so on.

Success (or lack of) is usually not a one-time big decision. It is the combination of many small decisions, made consistently, over time.  

But there are two decisions, every day, that I know determine whether I’m successful or not:

  1. What I read
  2. Who I spend my time with

Our mind is very teachable – good or bad! This means we must protect what we put into it. I can read or watch the daily news and begin to feel bitter and fearful of the world around me. Or, I can read books like the ones on my desk right now:

  • The Laws of Lifetime Growth (Dan Sullivan)
  • The 10 New Golden Rules of Customer Service (Todd Duncan)
  • Principles (Ray Dalio)
  • Developing the Leader Within You (John Maxwell)
  • Becoming a Coaching Leader (Daniel Harkavy)

As far as relationships, I learned long ago that we become the average of the five to ten people we spend the most time with. So, spending time with people focused on good health, being a good spouse or parent, and managing their money well, increases my chances greatly of being successful in those same areas of my life. It works the other way too, unfortunately. Spending time with people who consistently make unhealthy decisions can hold me back from becoming the best ‘me’ I can be.

As you look ahead to a New Year, pay close attention to these two important decisions you must make every day. They mean everything.

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What is Gratitude?

I am so incredibly grateful for each and every member of The Borrow Smart Team and all that they bring to our team! What an awesome 2021 we have had together! 


On that note, what IS ‘Gratitude’ you ask?  Well, let me tell you:

Gratitude is derived from the Latin word ‘gratia’, meaning grace, graciousness, or gratefulness.

Gratitude is the experience of counting one’s blessings.

It is the feeling that embodies the phrase “Thank you”.


A study by Emmons and McCullough in 2003 found that keeping a daily gratitude journal leads to better sleep, reductions of physical pain, a greater sense of well-being, and a better ability to handle change.  

On top of that, another study found that gratitude could be the ultimate magic pill for ‘happiness’!


People experiencing gratitude are influencing their hypothalamus in real-time, which is the tiny part of your brain that directly influences sleep, eating, and stress.  

Gratitude also stimulates the part of the brain associated with DOPAMINE – the ‘do-it-again’ chemical which is responsible for the creation of new learning pathways.


Bottom line:  BE GRATEFUL every day!  Journal in the morning 3 things you are grateful for, and then end your day writing down 3 things that went well that day you are grateful for.  

This is a week of giving THANKS, so embrace it and enjoy every moment of those around you.

Be grateful for those who pour into you, support you, and care about you.  

Take advantage of this magic pill and be grateful daily!  #WintheWeek

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‘Lunch Money’ – Monthly Training & Education to Help My Team Increase Their Fiscal Literacy & Confidence

This month I launched ‘Lunch Money’, a monthly training and education to help my team increase their fiscal literacy and feel more confidence around money as they build a path for a successful financial future!   

This has been a passion of mine for many years, and acted as the foundation for a successful mortgage career since I made it less about the mortgage, and more about helping families achieve financial safety and grow their wealth.   

I’ve spent years teaching homeowners and homebuyers the principles and strategies to be more successful with their money.  I’ve done countless classes for professionals and businesses.  I co-authored Borrow Smart, Retire Rich and then wrote Mortgages, Money, and Life to further spread the lessons I’ve learned.  I now certify all of my Mortgage Advisors through Borrow Smart University to be able to help their clients on another level the way I’ve always enjoyed doing.     

Yet, I realized recently that I’ve done very little to coach up my own support team along the way.  My amazing Loan Officer Assistants, Processors, Marketing Coordinators, Operations Manager, Systems Administrator, Post Closing Concierge, Partner Liaison, etc.   That ends now.  I’m committed to helping those closest to me every day, working hard every day to help our clients with their mortgage financing needs, have the tools and education to succeed with money! 

I’m excited with where Lunch Money will go!  I foresee guest experts joining in, lots of engaged discussions, and incredible growth and connections as we move forward. 

Posted in Avoiding the First Financial Blind Spot, Blind Spot 1: Developing a Plan, Blind Spot 2: Increasing Fiscal Literacy, Blind Spot 3: Storing Money Efficiently, Blind Spot 4: Building a Wealth Team, Borrow Smart, Repay Smart, Creating Your Best Money Year Ever, life, money, planning | Tagged , , , , , , , , , , , | Leave a comment

Borrow Smart, Repay Smart: Kids & Money


Dear Borrow Smart Family,

Is your child a saver or a spender?

One of our most important missions as a is to help our clients improve their financial literacy. By helping you make smart decisions with your money (even beyond the mortgage), we get to play an integral part in helping you build a bigger, better financial future. Even better, we are honored with the idea of partnering with you to raise a financially responsible family.

One of the first steps to identify where you’re family is at, is to determine your child/children’s financial personality. One of my favorite quizzes for this is from the book, “Money Doesn’t Grow on Trees” by Neale S. Godfrey.

Answer the following ten questions with a yes or a no:

If you give your child money, does he or she save it?
Does your child lose or misplace money often?
Do you often hear the words “I want, I want” when you go shopping with your youngster?
If you ask your young one, “Why do you want this?” does he or she often say, “Because Johnny has one” or “I saw it on TV”?
Is your child reluctant to spend any of his or her own money?
Does your child get exceptional pleasure in seeing a bank account grow?
If your child sees a penny on the ground, will he go out of his way to pick it up?
Does your child decide to save for a special toy, and then later choose to not buy the toy?
If you say no to the suggestion of stopping for ice cream or pizza, does your child ask, “Can we if I pay for it?”
When you travel, does your youngster want to bring presents back to all his or her friends?
How to score: If you answered “YES” to questions 1, 5, 6, 7, and 8, you have a saver on your hands. A “YES” answer to questions 2, 3, 4, 9, and 10 show you have a full-fledged spender on your hands.

In doing this quiz myself, I was not feeling great that my daughter comes out as a spender. But I know not to worry – there are lots of ways to help a child who loves spending money learn to be a better saver.

And as crazy as it might sound, some children struggle to spend money, choosing instead to save everything (Think future “Scrooge McDuck”!) Money should be fun, and teaching your children about money can be fun as well. The ideal financial personality, of course, is raising a careful spender who is also a disciplined saver.

If you are like me, you want your children to grow up more prepared than we were. Schools generally don’t have financial education as part of the curriculum. It’s our job to equip our children with the knowledge they need to make good money choices before heading off to college, where the onslaught of credit card offers will engulf them. I wish you all the best!

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Borrow Smart, Repay Smart: Avoiding the First Financial Blind Spot

*Repost from February 2015

*Repost from February 2015

Dear Borrow Smart Family,

Blind spots are all around, preventing us from getting where we want to go. In our quest to transform the lives of every client through financial education and direction, we have identified four blind spots that everyone falls into on the road to financial independence. Our goal is to help you learn what these four blind spots are, and how you can begin to avoid them as you pursue your financial goals and dreams.

Blind Spot #1 – Lack of a Plan

It is said that failing to plan is the equivalent to planning to fail! A plan is like a road map to get you from where you are today to where you want to go tomorrow. A well-defined plan provides the clarity and direction you need to begin taking action on achieving your most important goals.

But, if having a plan is so important, why do so few people take the time to develop a plan? Without a plan, how will you know if you’ve succeeded? How will you know if you are on the right track and you’ve arrived at your ideal destination?

The fact is most of us live life at such a fast pace that it is difficult to dedicate the uninterrupted time necessary to map out a clear plan. After a full day of work, preparing dinner for the family, getting the kids bathed and to bed…it’s no wonder we don’t have the energy to plan out our finances and future. And, if and when we finally do, many people simply do not know where to start.

If you truly want to save more money, you need a Savings Plan. To better manage where your money goes, you need a Spending Plan. If you have debt you’d like to pay off, you need to develop a Debt Elimination Plan. If you ever want the freedom to retire when you want to – and how you want to – you need a Retirement Plan.

And probably more important than anything else, to live a fulfilled life, with the freedom to do what you want to do – rather than what you have to do – you need a Life Plan.

Understanding you need a plan is only the first step. Developing a realistic, achievable plan takes work. It takes commitment and discipline. Plans will change; thus they must be reviewed and adjusted regularly.

Start by writing down your financial goals. Next to each goal, write down the very next step to moving forward toward achieving that goal. There is no magic pill. It is simply taking one step at a time, and remembering to focus on your progress.

Then, schedule time each week to plan your life and your money. It could be 30 minutes one night per week, or one hour every Saturday.

As your preferred mortgage experts, we are committed to helping you avoid this first blind spot and develop a safe, successful plan for your mortgage and real estate.  Our BorrowSmart Program is a complimentary program that has this strategy built in! Feel free to e-mail us at to schedule your review and get your complimentary plan.

I wish you all the best!

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Debt – The Good, The Bad, and the The Ugly – Part 2

Dear Borrow Smart Family,

Debt is not something you should be ashamed of. But it is something that you should want to fix. The below is a continuation from last week:

1. If you have “bottomed out” on debt, if you are really ready to make a change, then your first move must be putting money into a savings account. It’s possible you are in “trouble” because you are lousy at saving money. If you maintain a financial lifestyle of spending more than you earn, then working to pay off debt is like putting a bandage on a broken leg: You’re “doing something,” but it is not going to help. The requirement that you save money out of current income applies to all who work for a living. If you don’t save, then the rest of this advice will be meaningless.

2. Stop using all of your credit cards–no exceptions. If you can’t pay cash for something, then you don’t need it. Cut them up if you must.

3. Make a plan–list each credit card balance and interest rate, then work on paying off the cards with the highest interest rates first–or, if it helps psychologically, pay off a low-balance card just to experience the victory. *Reminder – our BorrowSmart Program is a complimentary program that has this strategy built in! Feel free to e-mail us at to schedule your review and get your complimentary plan

4. If you are getting a tax refund, if you get a bonus from work, or if you come into any other unexpected clot of money, pay it immediately on your credit card debt.

5. Pay more than the minimum every month on every card. Don’t be fooled: The credit card company is NOT doing you a favor by requiring only a small monthly payment.

6. Reduce the interest rate you are paying by calling each company and asking for a lower rate. Changing your interest rate from 20% to 12% is a pretty healthy reduction. If you can effect this change, next look at consolidating other higher-rate balances into this card.

7. As a last resort, there may be circumstances where it makes sense to refinance your home to pay off credit card debt. The risk here is that you may just go out and run up more debt, making this the worst possible action you could take if you’re simply going to waste the monthly savings. The absolute key here is to use those savings to begin building your savings and financial safety. Often times we can connect you with trusted financial planners who will help by becoming accountability partners to you, along with us, and create a system for you to save consistently and grow your nest egg.

Following these suggestions just might constitute the beginning steps on your pathway toward financial health. Our passion is to help be the catalyst for this bigger, better future!

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Debt – The Good, The Bad, and the Ugly – Part 1

Dear Borrow Smart Family,

There are three types of debt, the “Good”, “Bad”, and “Ugly”. Let’s discuss the differences and provide some direction for addressing your debt-related issues.

When discussing debt with clients, too often they express a sense of guilt or shame that they owe money. One of the first rules we teach is “No Shame, No Blame”. While we do want clients to be free of debt, let’s be clear on one thing: some types of debt are defensible, perhaps even desirable. So let’s dispense with the guilty complex, and the destructive habits of blaming past bad decisions, and focus on greater clarity and understanding of debt.

Good Debt

For at least a moment, forget what those television gurus tell you about paying off your mortgage. They are not necessarily addressing your specific situation, and it is blatantly misleading to pass off such advice as applicable to all. The simple truth is that most of us could not purchase our homes but for the availability of “cheap” mortgages.

Why might it be best for you to carry mortgage debt? There are three primary reasons:

  1. The use of borrowed money, or leverage, allows one to purchase much more home than would be possible if paying with cash–which, in turn, means that one will benefit much more from appreciation of the property over time.
  2. Mortgage interest is fully tax deductible for most middle-class Americans, reducing the after-tax “cost” of this debt by approximately one-third.
  3. Mortgage debt is a hedge against inflation (and is better than gold in this respect because you can live in your house). Paying a locked-in interest rate for 30 years, while inflation eats away at many other investments, is a vital benefit.

Other possible kinds of good debt include loans for education since the debt increases future earning; automobile debt, if you cannot possibly buy a car for cash and don’t buy more car than you need, even at 0% interest; and, in rarer circumstances, debt incurred for investment purposes.

Bad Debt

Even mortgage debt can be bad debt if the interest rate is pretty much anything more than 1% higher than the rate you can readily obtain at the present time (depending, of course, on how long you plan to stay in your house). In this situation you should consider refinancing immediately.

Bad debt generally also includes car loans (the longer the term, the worse the debt), boat loans, vacation house loans (interest is possibly deductible, but you are also probably not using the house enough to be carrying debt on it)–anything involving the payment of interest that is unreasonably high, that is not tax deductible, or that is not for “essentials.”

Ugly Debt

Put as simply as possible: Unpaid credit card balances constitute the absolute worst kind of debt imaginable. Just as compounding interest works meaningfully to your advantage when you are saving for retirement, the compounding of credit card interest charges puts you on a debt treadmill that can be very difficult to escape. While difficult, it certainly is not impossible!

Generally speaking, it doesn’t take much to convince clients to pay off their credit card debt–but that’s the easy part of the equation, isn’t it? The real work comes in making a plan to pay this debt off and then sticking to it. Stay tuned for Part 2 when we explore specific strategies to eliminate “bad” and “ugly” debt.

Reminder: As part of our unique service for homeowners, we’re happy to provide complimentary reviews and debt elimination plans. Please contact us at to see how we may help you further!

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Borrow Smart, Repay Smart: Planning – Begin With The End In Mind

Dear Borrow Smart Family,

Fast forward in time to December 2020.

Imagine yourself sitting alone in your favorite thinking spot!

Looking back over the previous 11 months, what HAS to have happened for you to be happy with your progress in 2020?

We’ve all heard the advice from Stephen Covey, “Begin with the end in mind.” As you set aside time to think and plan for the rest of your 2020, I encourage you to take a different approach this time.

Write what you accomplished or made progress on in past tense as if it’s already happened.

  • What did you accomplish in 2020 that you are most proud of?
  • What personal goals did you achieve?
  • What business or professional goals did you accomplish?
  • How much time did you commit to your growth? Your health? Your family and friends?
  • What impact did you make on the lives of others?

This is extremely important. The mind struggles when trying to accomplish things it deems impossible or two far-fetched. But by describing things in past tense, as if you’ve already accomplished them, the mind begins to see your goals as realistic and achievable.

Start writing. But this time, write it as a summary of how great 2020 was for you; even if it takes extra time to focus on your silver linings. Many of us, have or know someone who has lost a job during this pandemic. Progress is made even amidst loss or setbacks. Be specific in describing all the areas you made progress in. Make it a year you will look back on, and be proud of your grit. Even better, describe a 2020 that others will be proud of.

I wish you all the best!

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Borrow Smart, Repay Smart: How much money should I keep in a savings account for emergencies?

Question: Hi Trevor! How much money should I keep in a savings account for emergencies?

Answer:  Many financial professionals suggest that you put away three to six months’ worth of living expenses for emergencies. We actually call these funds “Cash Reserves,” because the reality is, most things that might happen are not really emergencies. Once established, we also refer to this as your “sleep well at night” account!

If you lose your job, or become disabled and don’t have adequate disability insurance, you’ll need that money to pay your regular monthly expenses, such as mortgage payments, insurance premiums, groceries, and car payments, until you can find another job. Without such an emergency fund, a period of unemployment could put your assets at risk. Similarly, if your car breaks down or your spouse has a medical emergency, you’ll want to have the necessary cash to pay the bills. You don’t want to be faced with an immediate need for cash, only to discover that you don’t have any.

You may have already set up an emergency fund. Did you put the cash in a five-year certificate of deposit (CD) or other long-term investment? In an emergency, you will need to get at those funds immediately. You can certainly pull your money out of the CD early, but you’ll pay a penalty. It’s better to keep some funds more liquid, in a traditional savings account, a money market deposit account, or a six-month CD, for example. That way, the cash will be readily available when you need it.

Finally, keep your emergency fund separate from your everyday accounts. You might even want to use a different bank. Unless you are extremely disciplined, you’ll be tempted to spend those extra funds if you keep them in your checking account. Remember, if you can put off an expense until next week, it is probably not an emergency.

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Borrow Smart, Repay Smart: The Story of the Magic Penny

Dear Borrow Smart Family,

If you had the choice between taking $3,000,000 in cold hard cash right now or a single penny that doubles in value every single day for 31 days, which would you choose?

If you’ve heard this story before, you already know that choosing the penny option is the better choice and will lead to greater wealth. But why is it so hard to believe that choosing the penny will result in more wealth over time? The answer is simply because it takes so much longer to see the payoff. Most of us can’t stand delaying our gratification. This is why in general, the savings rate in the United States is very low compared to other countries, and credit card debt keeps millions of families from achieving financial freedom.

Let’s look at the math behind the story a little closer: Assume YOU choose the $3 million in cash in hand right now, and your best friend chooses the penny gamble.

On day #5, your friend has just 16 cents. You, of course, have $3 million!
On day #10, your friend has $5.12 cents, while you are enjoying your riches.
After 20 days your friend has $5,243, while you are treating your friends and family to dinner.
At this point, how is your friend feeling? He or she has delayed his or her gratification in hopes of making a smart, long-term decision as they are watching you live large with your mounds of cash. But…the invisible magic of “compounding” is about to take effect.

By day #31, your friend’s single penny has multiplied (or compounded) into $10,737,418.24! This is more than 3x your original $3 million!

This simple, yet compelling, story shows why consistency over time is more important. On day #29, your friend has about $2.7 million, still a bit behind your $3 million, but by day #30 your friend pulls ahead with roughly $5.4 million, beginning to leave you behind.

The magic of compounding, along with small steps taken constantly over time, is what can lead to massive success. Just imagine exercising 15 minutes every day versus “waiting” until you suddenly have 1 hour freed up to go exercise all at once on the weekend.

Darren Hardy, the publisher of Success Magazine and the author of The Compound Effect, describes success as a series of small, seemingly insignificant steps, done consistently over time.

What areas of your life could this principle be applied, so you could enjoy the results a month, a year, or 10 years from now?

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