10 Things That Are A Complete Waste Of Your Money Building Your Money Machine podcast

10 Things That Are A Complete Waste Of Your Money

2M ago 31:38

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Do you ever feel like you're just throwing money away? It’s time to stop the madness and take control of your financial future!

In today’s episode, I dive into 10 things that are a complete waste of your money and how you can avoid them. From the education that doesn't pay off, to the hidden costs of high bank and investment fees, I cover it all. I also go into why lottery tickets and gambling never add up, why convenience stores might as well be called overpriced stores, and the pitfalls of buying a home that doesn’t fit your financial reality.

I share insights on the impact of behaviors, habits, and societal pressures on our financial decision-making. This episode also addresses the dangers of high-interest debt and the true cost of luxury purchases. Plus, I give you tips on avoiding the trap of impulse buying and poorly thought-out timeshares.

Looking to understand where your money is leaking and how to redirect it towards a richer lifestyle and wealth-building? You won't want to miss this!

IN TODAY’S EPISODE, I DISCUSS:

The importance of considering ROI in education and keeping student loans manageable
Avoiding bank account and investment fees
The true costs of gambling and luxury purchases

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PRE-ORDER MY NEW BOOK:

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The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.

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Kapitler

1. Wealth depends on choices, not just money. (00:00:00)

2. Extended warranties are usually not worth it. (00:04:47)

3. Be mindful of buying depreciating assets. (00:07:14)

4. Timeshares are inflexible and regrettable purchases. (00:10:51)

5. Be aware of financial decisions; avoid impairing wealth. (00:14:34)

6. Consider cost before pursuing higher education. (00:19:35)

7. College education is an investment with returns. (00:21:10)

8. High fees erode investment returns significantly. Choose wisely. (00:23:46)

9. High fees erode investment returns significantly. Choose wisely. (00:29:11)

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