Dimitry Neyshtadt ChFC is an award-winning Financial Advisor who left behind his “office life” to spend 2019 traveling 25 States in 25 Weeks on the #moneyprotour. Make sure to follow along on Instagram and Youtube!
My RV rolled out of Connecticut without any wins or losses at the casino (because I didn’t gamble at all), and my next state on deck on the #MoneyProTour was Delaware. I had never been to Delaware before, and I noticed something special. After passing exits for New York City and Philadelphia, the view through the windshield in front of me was that of a BIG SKY, flat roads allowing for far visibility, and all the sights (and smells) of farm life.
Getting Hooked Up with a Place for my RV
I was able to find a great place to spend a couple of nights at no cost. You may think this sounds a bit fishy, but it’s totally legit! Using a helpful website/app called Boondockers Welcome I’m connected with folks who host RV travelers.
In Delaware, I stayed with Jay and his wife who own a good size lot that was part farm part open pasture part nice lawn. Jay worked in the Concert & Touring Industry for decades and was quick to share some funny stories and jokes over a couple of beers. His grey hair matched the color of his grey mustache. The driveway had a beautiful sunset view, and he hooked up my RV to electric power and fresh water.
Jay liked hearing about my mission for setting out on the #MoneyProTour and totally agreed with the fact that there are MILLIONS of people who need to hear more about what I can help them with. I set out to hit the streets with a firm vote of confidence and support from Jay, adding more wind beneath my wings.
The Challenges of Owning a Seasonal Business: The Story Of A Dog-Lover
I drove over to the cool coastal city of Rehoboth Beach, Delaware. There are shopping outlets and parking lots full of your favorite restaurant chains. Closer to the beach, the neighborhood really feels like a small and local surf-town. Small bars and boutique little shops.
Since I was walking with the famous Finance Frenchie he led the way into a local pet store! We were greeted with a smile and a treat for Brady, and Chad, working behind the counter, was happy to chat with us and open up.
Crazy to think that Chad used to work in a Marine business, and wasn’t feeling totally happy or fulfilled. He had always been a dog lover, and found a great opportunity to “go all in” on owning a pet store franchise.
He takes pride on being involved in the community, and he’s very aware of the fact that his sales are very seasonal. From April/May through September/October, the city of Rehoboth Beach can have large crowds and tons of foot traffic. From November to March, however, it can be so quiet that you’d think a tumbleweed would roll through the road.
Listen to what Chad had to share with me when we caught up together.
Hangin’ Out on Campus with the University of Delaware Blue Hens
I drove over to the campus at the University of Delaware to be very welcoming. In April, the fresh spring air felt incredibly refreshing as I walked around the beautiful manicured grounds. The sidewalks were busy with students finishing up their spring semesters, hustling from one class to another.
I caught up with a handful of students – from a variety of ages, backgrounds, and areas of study – and chatted with them about their views on how Personal Finances are (or aren’t) taught in American schools.
Student Loans are a hot topic in the media these days. We are all aware of the HUGE dollar amount of loans taken out by young Americans. On campus, I could hear some echoes of this same sentiment for sure – students who could see what the cost of education can mean for their future.
From other students, I got shrugs, blank stares, and heads shaking. With financial support from their parents, students who did not own any financial burden for their higher education seemed oblivious to the responsibility and maturity required by their fellow students. That makes it difficult to explaining the “stress” that their peers with school debt live have.
Check out the video below to hear from a wide range of students on campus at the University of Delaware.
#MoneyProHabit — What are the Cash Flow Obligations of Your Loans?
Whether it’s a loan to pay for school or a business, you MUST be aware of the following key question when it comes to your finances. What kind of Financial Obligation does this add to your life? How much will you have to pay per month? How long will you be making those payments for?
That way, you will not be surprised when you have a $500/month payment starting 6 months after graduating from college. It also means that you will not be caught off-guard when your monthly bills for a storefront are due and you have to make those payments from the gross sales revenue of your business.
Just like solving a Rubik’s Cube (I can only assume haha), you really have to look at the challenge of financing a business or higher education from ALL ANGLES. Think through worst-case-scenario and have a strategy on how you would handle it. Oftentimes this means having a solid grasp on Cash Flow requirements, Interest Rates, and yes, reading “the fine print” on the financial products in your life.
What do you think about my experience on the road on the #MoneyProTour? What do you think of these interviews? Let me know below!
