1 00:00:00,413 --> 00:00:03,080 (chiming music) 2 00:00:04,310 --> 00:00:06,430 - So the topic of house poor was brought up 3 00:00:06,430 --> 00:00:09,440 and that would be, let's say that you were qualified 4 00:00:09,440 --> 00:00:13,260 to buy a, we'll say, $500,000 house. 5 00:00:13,260 --> 00:00:14,920 You may be qualified for that. 6 00:00:14,920 --> 00:00:18,640 The actual payment may fit beautifully into your budget. 7 00:00:18,640 --> 00:00:21,610 Unfortunately though that means that you will be 8 00:00:21,610 --> 00:00:23,630 going down in what your standard of living is. 9 00:00:23,630 --> 00:00:27,790 So that means that you are accustomed to eating ribeyes 10 00:00:27,790 --> 00:00:28,730 but now you'll go down 11 00:00:28,730 --> 00:00:30,960 to eating beef-flavored ramen noodles. 12 00:00:30,960 --> 00:00:34,180 But you'll still have the $500,000 house, right? 13 00:00:34,180 --> 00:00:37,870 So it's really about what it is that you want to accomplish 14 00:00:37,870 --> 00:00:40,640 within your financial goals. 15 00:00:40,640 --> 00:00:43,430 We have goals for every other aspect of our life. 16 00:00:43,430 --> 00:00:45,380 We should have financial goals as well. 17 00:00:52,557 --> 00:00:54,474 (air swooshing) 18 00:00:54,474 --> 00:00:56,641 (booming)