99.1% of people stay BROKE because they make these 5 money mistakes...
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1. Paying on credit versus cash
Paying in cash offers very little benefit
No rewards, no protection - nothing
With credit cards, you gain those benefit
Plus you build credit which impacts all areas of your life
Unless you can’t handle having a credit card - opt to use one
Paying in cash offers very little benefit
No rewards, no protection - nothing
With credit cards, you gain those benefit
Plus you build credit which impacts all areas of your life
Unless you can’t handle having a credit card - opt to use one
2. Actively or passively investing
It’s cool to pick individual stocks but it will likely keep you poor
Passive investing is proven to yield better returns
It also saves you a ton of time
Time you can use to make more money to invest with
It’s cool to pick individual stocks but it will likely keep you poor
Passive investing is proven to yield better returns
It also saves you a ton of time
Time you can use to make more money to invest with
3. Buying vs. renting a home
You should own if:
- You plan to settle in one area
- Can afford interest rate rises
- Want the pride of ownership
You should rent if:
- You’re transient
- You’d rather invest your free cash
- You want less responsibility
You should own if:
- You plan to settle in one area
- Can afford interest rate rises
- Want the pride of ownership
You should rent if:
- You’re transient
- You’d rather invest your free cash
- You want less responsibility
4. Investing vs. paying debt
You should invest if:
- Returns exceed cost of debt
- Don’t mind carrying debt
You should pay debt if:
- Interest exceeds returns
- Debt stresses you out
- Your debt stops you from taking on more debt
You should invest if:
- Returns exceed cost of debt
- Don’t mind carrying debt
You should pay debt if:
- Interest exceeds returns
- Debt stresses you out
- Your debt stops you from taking on more debt
5. Paying vs. free learning
You can literally learn anything you want for free
But you probably shouldn’t
Most people need something to be at stake for learning to take place
You’re probably better off paying to learn because there is a cost to “free”
You can literally learn anything you want for free
But you probably shouldn’t
Most people need something to be at stake for learning to take place
You’re probably better off paying to learn because there is a cost to “free”
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I write a thread a week on:
• Financial management
• Building generational wealth
• Investing for success
Follow me for financial wisdom that will change your life forever:
@Adam_DelDuca
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