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with your current progress, you're
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changing your life.
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You're never going to see any success if you don't take risks with your time and money.
Losing money is a part of the process.
It's your real life tuition.
The new mayor of Los Angeles, Karen Bass, will start moving homeless people from tents into hotels and motels through a new program that launches Tuesday.
"The city has an estimated 40K
homeless population"
But if you make half the payment on the 15th, it will bring your balance down a bit so when your interest is calculated on the 30th the balance will be less than what it would have been if you waited to make a full payment when it was due!
Interest is compounded daily, for example if your car note is due on the 30th of each month they calculate how much interest you have accrued. So when you make a payment they deduct the interest and then apply the rest of the principal.
Did you know that paying half of your car note every 2 weeks (instead of 1 payment a month)
Can shave time off your auto loan and could save you hundreds or even thousands of dollars in interest??
Here’s some free game to analyze spending: cost per use.
If I buy a cheap shirt for $10 and wear it twice before it rips, that’s $5/use.
If I buy an expensive shirt for $50 and wear it 20 times, that’s $2.50/use.
Sometimes cheap is expensive, and expensive is cheap.
Don’t rely on the government
Don’t rely on your parents
Don’t rely on an inheritance
Don’t rely on a handout
It’s up to YOU to change your finances.
Take it upon yourself to create financial freedom & build generational wealth.
Personal finance tip: Anytime I splurge on something I take the same amount of money & invest it. So if I want to buy a $200 pair of shoes, I also have to buy $200 worth of stocks.
Makes you re-evaluate how much you really want something since you have to save 2x for it.
If you really want to build wealth, you only need to do two things:
1. Live below your means.
2. Invest the difference.
It doesn’t have to be complicated.