Most people probably don´t realize it, but car debt is one of the main things that is keeping us from being wealthy. As a matter of fact, a $400 monthly car payment could become $467,000 if it was invested for 30 years and earned a 7% rate of return! Unfortunately, car payments are considered normal in middle class society. In any parking lot full of newer cars, we would be hard pressed to find a car that doesn´t have a payment on it. Because of this, most of us are missing out on hundreds of thousands of dollars of investment gains. Many of us may even want to get out…
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“Fixed” Expenses are the Worst … Let’s Get Rid of Them!
Okay, here’s what I want you to spend the next 3 minutes doing. Grab a sheet of paper and list all of the things that are monthly or annual expenses for you. I’m not talking about a grocery bill, but instead I’m talking about subscriptions, energy bills, car payments, and so on. For me, this includes all of the following: water electric gas mortgage escrow and home insurance car insurance cell phone Internet and cable tv Netflix YMCA pass for swimming You’ll probably find that it’s a pretty long list. Make sure that you don’t forgot things like student loan payments, credit card minimum payments, car loans, the Cloud, digital…
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Envy is Not a Tool For Happiness
Every single one of us owns something that we don’t feel too great about. Whether it’s a house that we feel is ugly, a treadmill that barely works, kitchen cabinets from the 1970s, or a watch that is only right twice per day, we all own something that we are not too fond of. For me, it’s a Chevy Malibu that has 180,000 miles on it. This car has a cracked windshield, a gap in the passenger door that lets water in when it rains, and a sound coming from the engine that is getting louder every month. I don’t love this car. However, I am not in a rush to…
