In this episode I talk about financing. Surprisingly, I haven’t touched on this topic much yet. But today, I got fired up about it.
Over and over again, I’ve come across people who have ruined their financial lives by financing a purchase they couldn’t afford outright. Making a big purchase isn’t about affording the payment, it’s about affording the purchase. Of course, I want you to afford the payment, but it doesn’t matter if you can afford a payment if you end up locked into a loan you can’t escape.
Don’t buy something you can’t afford. It’s as simple as that.
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.