The Minority Mindset Show The 5 Dumbest Things People Do With Money (Don’t Be #3)
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Oct 23, 2025 Discover the five financial pitfalls that keep people broke. Learn why a high credit score doesn't guarantee wealth and why paying off debt should come before investing. Uncover the dangers of living 'fake rich' and how to build a real emergency fund. Jaspreet emphasizes the importance of spending on education and wise asset acquisition over hoarding cash. Find out why long-term investing triumphs over speculative gambling in wealth-building and how a growth mindset can lead to greater financial freedom.
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Crawl Before You Run Financially
- If you have high-interest debt, prioritize paying it off before investing in stocks.
- Save a $2,000 emergency fund fast by cutting expenses or earning extra hours.
Credit Score Is Payment History, Not Wealth
- A high credit score only proves you pay bills, not that you're wealthy.
- Good credit helps get cheaper debt but doesn't create assets or net worth.
Buy Assets, Not A Lifestyle
- Avoid buying liabilities to look rich; focus on assets that put money in your pocket.
- Follow the 75/15/10 rule: spend ≤75%, invest ≥15%, save ≥10% of income.
