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First Things THRST

E031 - The Finance Expert: Your Ultimate Guide For Saving Money In 2024 | Nischa

Feb 4, 2024
01:16:43
Snipd AI
Former investment banker and chartered accountant Nischa shares actionable insights on financial literacy and self-development. Topics covered include increasing income, diversifying income, investing and trading, saving and budgeting, real estate, and common financial mistakes. Nischa also discusses the importance of tracking finances, financial transparency in relationships, and earning money without a degree.
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Podcast summary created with Snipd AI

Quick takeaways

  • Considering the total cost of ownership is crucial when deciding whether to buy or rent a property.
  • Budget and long-term needs should be taken into account when deciding whether to buy or lease a car.

Deep dives

Buying vs. renting property

When deciding whether to buy or rent a property, the general rule is to buy if you plan to live in the property for more than seven years, as the costs associated with buying a property can be offset over a longer period. However, if you plan to live in the property for a shorter period or if you have better investment opportunities, renting may be a better option. It's important to consider the total cost of ownership, including depreciation, fees, and additional expenses, when making a decision.

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