Chapter
Don't Buy A Car You Can't Afford
07:42 - 11:41 (03:59)
In this podcast episode, the speaker argues that buying a car you can't afford is a mistake. Consumers are going into debt to buy liabilities that lose money and make everyone but them rich.
Clips
The speaker emphasizes that people should avoid taking on debt for assets that lose value, like cars, since they end up paying interest and making others richer without building their own wealth.
07:42 - 10:02 (02:19)
Summary
The speaker emphasizes that people should avoid taking on debt for assets that lose value, like cars, since they end up paying interest and making others richer without building their own wealth. Furthermore, he advises that people should only purchase a car if they have the money to afford it without sustaining debt.
ChapterDon't Buy A Car You Can't Afford
EpisodeA MASTERCLASS On How To Prepare & Thrive In Recession EP 1293
PodcastThe School of Greatness
The speaker talks about his experience of falling into the trap of wanting to put money into cars to look cool.
10:02 - 10:47 (00:45)
Summary
The speaker talks about his experience of falling into the trap of wanting to put money into cars to look cool. He also shares his love for his old four thousand dollar car and how it got him from A to B without breaking down.
ChapterDon't Buy A Car You Can't Afford
EpisodeA MASTERCLASS On How To Prepare & Thrive In Recession EP 1293
PodcastThe School of Greatness
The speaker talks about how he used to waste his money on getting Lamborghini doors on his Toyota and buying expensive watches to look cool in the entertainment industry, until he eventually read some money books and started to shift his mindset towards saving for the future.
10:47 - 11:41 (00:54)
Summary
The speaker talks about how he used to waste his money on getting Lamborghini doors on his Toyota and buying expensive watches to look cool in the entertainment industry, until he eventually read some money books and started to shift his mindset towards saving for the future.