Building Your Money Machine 14 Hidden Expenses That Silently Destroy Your Wealth
Welcome to another powerful episode of the Building Your Money Machine Show! Today, I’m shining a light on a topic that’s often overlooked but crucial for anyone serious about building real wealth: hidden expenses that sneakily drain your financial future.
I’m breaking down the 14 silent money leaks that could be quietly destroying your wealth right under your nose. These aren’t just theoretical concepts. Many of these come straight from my own experience and from the real-life journeys of my clients.
We’ll dig into three main categories: investing leaks, protection leaks, and lifestyle leaks. I’ll walk you through how these leaks happen, and—most importantly—how you can plug them to accelerate your path to financial freedom.
On the lifestyle side, I’ll reveal the dangers of lifestyle creep, high-interest debt, car depreciation, emotional spending, last-minute purchases, and more. For your safety net, I’ll share why you must be proactive about negotiating big expenses, maximizing your employee benefits, making smart insurance decisions, and taking your health seriously.
IN TODAY’S EPISODE, I DISCUSS:
- The 14 biggest wealth leaks—broken down
- The silent danger of inflation and why your savings alone may not be enough
- How investment fees and opportunity costs of delayed investing add up to huge losses over time
- The power of tax-advantaged accounts to keep more in your pocket and less with the government
- Lifestyle creep: why increased earnings shouldn’t lead to unchecked spending
- The wealth-eroding trap of credit card interest and car depreciation
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If you liked this video, you'll love these ones:
- 40 Years as an Accountant - This is What Rich People Regret Most: https://youtu.be/x8_f0g_EjVE
- Why You Need To Start Automating Wealth Creation: https://youtu.be/RV_kW-ARYok
- 10 Things Worth Buying EVEN If You're Short On Cash: https://youtu.be/wPy-xppyPkU
- 8 Signs You're Not Ready For Retirement: https://youtu.be/aUhBrFx-NxY
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