The chapter discusses the shocking costs of cars and the myths surrounding car loans. It emphasizes the depreciation of vehicles and the financial impact it has. The speaker shares their personal experience and highlights the importance of understanding the true value of a car. They also address the common belief that getting a car loan is the norm and explain why paying cash for a car can be a better financial decision. The speaker emphasizes the need to optimize purchases and financial strategies.
Robert Leonard chats with Aaron Nannini about ways to wisely manage your money and the importance of having a proper mindset for wealth-building.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:06 - Why behavior and mindset are so important when it comes to money.
04:42 - What value-based spending is and how it can help with balancing the YOLO and future-thinking mindsets.
06:07 - What “keeping up with the Joneses” means and why you shouldn’t do it.
10:57 - How to fight back against lifestyle creep.
12:53 - How to avoid or get out of the paycheck-to-paycheck cycle.
14:16 - What the difference is between bad debt and good debt.
19:04 - How to get out of bad debt and leverage good debt.
22:37 - If one should use or avoid credit cards and how to appropriately use them.
34:08 - What silent killers are in terms of money.
40:54 - What the shocking cost of cars is and the myths of car loans.
48:25 - How to successfully manage money with one’s partner and avoid divorce.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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