5 Things That You Buy & Is Keeping You Broke.
1.) A Brand New Car π- Once You Drive It Off The Lot The Car Already Lost 30% Of Its Value. You Donβt Have A Car, You Just Bought A Depreciating Asset On Wheels π
2.) A Bigger House π - You Just Bought A Liability Not An Asset.
An Asset Is Something That Puts Money In Your Pocket & A Liability Is Something That Takes Money Out Of Your Pocket.
Your House Is You Biggest Liability because it takes money out of your pocket every month. Mortgage, Repairs, Insurance, & Property Taxes.
- Warren Buffet Still Lives in The Same house he bought decades ago for $31,000 π,
Why because he understands every Dollar that goes to a house is a dollar he canβt compound in his sleep. π΄ Thatβs Opportunity Cost which is the silent killer of wealth & freedom.
3.) Eating Out All The Time- The Average American Spends an Average of $3,000 A Year Eating out.
$3,000 a year growing at just 10% a year for 30yrs is $500,000. Imagine Throwing Away half a million dollars because youβre too lazy to cook.
-FYI #Bitcoin is average 30-50% annual growth. You just spent $1.5-2.5m dollars on eating out. Talk about opportunity cost.
4.) Clothes & Accessories You Donβt Need - Not talking about designer handbags or Luxury Watches which are absolutely wealth killers, but Iβm talking about the constant need to update your wardrobe.
Buying new clothes or shoes you end up forgetting about every season to impress strangers who donβt even care about what you wear.
Your closet is full of clothes you bought, wore a few times, forgot about, & now they just sit there taking up space.
Thatβs not a wardrobe, thatβs a museum of bad financial decisions.
This is deeper than just clothes, we live in a society that tells you buying more things will make you happy. Update your car π, your house π , your phone π±.
Itβs a trap to keep you spending & keep you poor.
5. Subscribers & Memberships You Donβt Use - Gym Membership You Never Use ( Workout At Home if Youβre serious) ..
Streaming Services You Forget About like Netflix, Hulu, Twitter, Telegram.
Apps with monthly Fees, Premium Subscribers for things you can get for free, Magazine Subscription & Software you donβt need.
All these are a slow leak in your bank account taking $5 here $10 there & $15 or more you forgot about. You donβt notice until you actually sit down and you add it all up.
Look at your bank account now and see your recurring payments, I guarantee you youβll find 3-5 things you donβt use. Cancel them today, not tomorrow.
The biggest problem here is your mindset and how these companies tricked you into thinking you need constant entertainment and they are betting youβre too lazy to check and cancel them.
#Bitcoin #Hoskasi & change your mindset.
