Your Dream Car Keeps You Broke | Personal Finance

Rich people don't spend a lot of money on luxury cars because they know that cars in general are a liability. The cost of the vast majority of automobiles will go down over time, but you will still need to spend money on them if you want to use them. Maintenance, gasoline, and insurance are all expenses that are associated with owning a vehicle, and they are all things that will eat money out of your wallet on a regular basis. Rich people would much rather put their money into assets that bring in more money every month and increase in value over time. This is because the rich know that these assets will make more money as time goes on. Rich people could buy a luxury car when they are very rich and have enough money to pay for it. On the other hand, when they are on an early trip, they would rather wait until later.

If you think this video is helpful, send it to a friend. Consider subscribing to the channel for more videos about investing, business, the stock market, managing money, building wealth, passive income, and other finance-related topics!

Disclaimer: Money Basics does not offer financial advice or act as a broker. All of the information, strategies, tips, and tricks shared on this channel are only meant to be entertaining, educational, or informative.

Thank you for your support.

#moneyhabits #millionairehabits #richmindset #financialfreedom #financialindependence