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Houston Financial Coach

The Story Behind Paying Off $61k In Only 16 Months

Emergencies happen. be prepared.

Despite what you may believe, I have not always been Michael of Black Sheep Finance.

Truthfully speaking, there was a 3 year stretch where I made almost every financial mistake you imaginable.

I don’t think I’ll ever forget the first time I actually used a credit card.

It was February 2011 in Appleton, Wisconsin.

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Life Can Suck Sometimes. Be Prepared.

Thanksgiving 2016 is a week I’ll never forget.

As you can probably tell by the title, that week SUCKED!

It all started the day before Thanksgiving when I got the call that my aunt, who had been in the hospital for a few weeks, was getting ready to begin chemo and was not expected to live through the initial treatment. […]

Financial Coach

Tired Of Being Broke? Do These 4 Things!

One afternoon, two young boys stood in front of their bathroom scale discussing the object at hand.

“How does this thing work?” asked one of the boys.

The other boy answered, “I’m not sure exactly, but I do know that when you stand on it, it either makes you mad or it makes you cry.”

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“Retirement Concerns” #MoneyMondays

Question: “When will I be able to retire?”

Answer: That all depends on you! When it comes to the question of retirement, the most important thing to remember is that retirement is less about your age and more about your financial situation.

No one should want to wait around for social security or, worse, become a burden to their children. Your retirement years should be more than that.

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Financial Coaching

How I Blew $1,000,000 In My Early 20’s

Most people don’t understand the concept of opportunity cost. In basic terms, opportunity cost can be summed up by saying,”If I’m doing X, then I’m not doing Y.”

2 months before my 24th birthday, I landed a sales job with a globally known company. I got a nice bump in pay and a few other perks I wasn’t used to at the time. […]

Financial Coaching

6 Simple Habits Keeping You Broke

It’s no secret that most Americans are living paycheck to paycheck. What’s shocking is how little the average American knows about personal finance. As a result, Financial Coach Michael Lacy has shared 6 simple mistakes that keep you broke.  […]

Financial Coaching

#MoneyMondays “Best Way To Repair Credit”

Question: What’s The Best Way To Repair Bad Credit?

Answer: If you’re following my blog and social media accounts, that should be the least of your worries. The honest truth is my credit score could be a 540 and I wouldn’t have a care in the world about it knowing what I know now. […]

Why Hiring A Financial Coach Is Pure Genius

This was the year that things were going to be different. This was the year the old habits you built over the years were going to the slaughterhouse. This was the year you decided that you had enough.

You said you were going to stop spending so much, and get control over your money. You were going to work towards getting out of debt. You were going to save more money.

And then something happened. And then another thing came up. And some of those old habits were a little harder to kick than you anticipated. And now, this year is starting to look similar to last year. […]

How To Budget Like A Boss

If you were to ask a group of people how they currently budget, the majority would say that they just use an app like Mint to track their expenses or they don’t budget at all.

A solid financial coach would tell you that a zero-based budget is the most effective way to budget. A zero-based budget is one that gives every dollar earned a responsibility before it ever touches your account.

This doesn’t mean that your account hits zero every month, but, rather, that there is no dollar unaccounted for. For example, any extra money you have after covering your necessities would go directly towards paying down debt, savings, investing, etc.

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