Summary
In this episode of the YRU Podcast, Frank Corbin answers questions from listeners about financial education and real estate. He emphasizes the importance of financial education and the role of parents in teaching their children about money. Frank also provides advice on buying a property, including focusing on income, credit, and down payment, and working with a mortgage broker and realtor. He emphasizes the need to stick to a budget and avoid increasing debt during the home-buying process.
Keywords
financial education, real estate, buying property, income, credit, down payment, mortgage broker, realtor, budget, debt
Takeaways
Financial education is not typically taught in schools, so parents need to teach their children about money management.
When buying a property, focus on income, credit, and down payment.
Work with a mortgage broker and realtor to navigate the home-buying process.
Stick to a budget and avoid increasing debt during the home-buying process.
Titles
Key Factors in Buying a Property
The Importance of Financial Education
Sound Bites
"The things we want to know or the things we want to do, they normally don't teach it in school or university."
"Income, credit, and your down payment. You want to have a minimum 5%, 10%. Again, the more down payment you have, it's better for your finances."
"Keep your debt ratio low at all given time, if anything, you want to reduce debt during that process versus increase in debt."
Chapters
00:00
Introduction
01:11
The Importance of Financial Education
06:28
Working with a Mortgage Broker and Realtor
08:47
Sticking to a Budget During the Home Buying Process