Chapter
The Problem With Buying Liabilities
27:35 - 32:32 (04:57)
The act of going into debt to purchase liabilities and pay interest on top of that prevents people from being able to make themselves rich. Instead, they end up making others rich, while not having any money left for themselves.
Clips
Despite financial uncertainty, some people have been using the money they save to purchase luxury goods, rather than investing or saving their money in a pandemic.
27:35 - 30:29 (02:54)
finance
Summary
Despite financial uncertainty, some people have been using the money they save to purchase luxury goods, rather than investing or saving their money in a pandemic.
ChapterThe Problem With Buying Liabilities
Episode4 Steps To Attract Financial Abundance [MASTERCLASS] EP 1374
PodcastThe School of Greatness
The speaker argues against financing car payments and going into debt to purchase liabilities that lose money, suggesting instead to buy a reliable used car with cash.
30:29 - 32:32 (02:03)
Personal Finance
Summary
The speaker argues against financing car payments and going into debt to purchase liabilities that lose money, suggesting instead to buy a reliable used car with cash.