Money Guy Show The Ultimate Money Rules: Simple Steps to Build Wealth Fast
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Nov 14, 2025 Explore essential money rules that simplify your financial journey. Discover the balance between student loans and safe borrowing. Learn the 23-8 rule for car buying and the 3-5 guideline for affordable housing. Understand when to use credit cards responsibly without debt. Prioritize high-interest debts and consider investing 25% of your income. Embrace the Always Be Buying mindset for consistent growth. Plus, find out when to consult a financial advisor for expert guidance.
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Cap Student Loans To First-Year Pay
- Avoid taking student loan debt larger than your expected first-year income.
- Use the 'first year financing' rule before borrowing for education.
Use The 23-8 Car Rule
- Follow the 23-8 rule: 20% down, max 36-month loan, payments ≤8% of gross income.
- Pay cash for luxury cars or finish paying them within 12 months and never let payments outpace investments.
Long Loans Hide True Car Cost
- Long auto loan terms mask unaffordability by lowering monthly payments.
- Dealer focus on monthly payment makes expensive cars seem reachable but harms long-term finances.
