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|Some Of The Biggest Lies About Money by samowo01: 9:46pm On Jun 01, 2020|
There is a lot of wrong information surrounding personal finance, in this short article we will debunk some of them. The truth is, we discovered this misinformation has kept some individuals behind financially, out of ignorance some have condemned the financial decisions of their friends and family. So lets’s dive in!
You are throwing away money in Rent.
Not long ago, I came across a top executive in one of the largest financial institutions, and I heard him say a shocker; “I still pay rent”.
I immediately began to ask myself why would he have so much money and still decide to keep “throwing money away on rent”?
Still in my many thoughts, I had him say;
” You know I really like the house, a beautiful Italian build, and the owner has refused to sell it to me. So I took the money for the house and invested in real estate. Automatically, my real estate investments pay the bills and rent multiple times over, and I also don’t have to worry about facility maintenance, saving a lot of money in the process, so as long as I still feel comfortable, I still live there”.
Houses are liabilities as long as you live in them yourself, so instead of owning your own property and having to pay bills in form of structural and other forms of facility maintenance, he chose to turn that into an asset that brings you enough returns.
Finally, owning a house is good it will definitely help you save some extra cash. Nevertheless, always remember not to condemn that friend that lives in a rented house, he might be making more and saving more with his real estate investmen
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