Here’s a financial truth that few people really understand. Business people refer to it as “Opportunity Cost” – but it holds true for everyone in just about every financial purchase.
I realize we have to spend money to eat and sleep… but when you make a major purchase like a car, boat or anything that you can’t pay for out of money cash-flow, this financial concept should be kept in mind.
It’s been said that “compounding interest” is the 8th wonder of the world. When you use your cash savings to make a larger than normal purchase, you kill the compounding interest growth of your savings.
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all the best… Mark