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Money Tip No No's

Money Tip No No’s

👉🏼Buy a brand new car. Instead buy a car with 60,000 miles or less. A brand new car loses 9-11% of it’s value immediately when you drive off the lot.

👉🏼Buy something on credit card that you don't have the cash to pay it off immediately. This is what an emergency fund is for and a budget :-)

👉🏼Eat out everyday or most of the time. You should be mostly eating at home if you want to save money. You can save hundreds of dollars eating a the house instead of out to eat. And it’s usually better for you!

👉🏼Buying a nice house that you can’t really afford and be house poor. No one wants to be house poor because while you have a very nice home, you can’t enjoy living there because you are still living paycheck to paycheck and not able to freely spend money on things and experiences because the bulk of your money is going to your mortgage. I buy nice houses but they may just be 20 minutes from the city instead of 5. When I was buying my current house the same exact house was selling 5 minutes from the city and it was double the price that I paid to live 20 minutes from the city! It won’t kill you to drive a little extra and you’ll have more cash to save and to spend on things you love.



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