Interest to you can either be an award or a penalty.
Interest! It can either be a reward or a penalty.
Any interest that you pay no matter how small of a rate. If you are paying it, it is a penalty! Regardless how low the interest is, if you are paying
it, it is a penalty.
However, if I am gaining interest on something it is an reward!
Example. Money in our checking account, although small interest,
it is gaining interest. Reward. Savings account although small from 1/2 percent
to 1 percent, gained interest is an reward. Money Markets Accounts from 1 to 3 percent in
interest is a reward.
You want to reduce an illuminate every penalty you
have!!! That means anything you are
paying on is a penalty. This will allow
you to protect your income. Your income and reward is your number one and ONLY
wealth building tool.
Stop paying interest to the banks for credit cards, car and
house loans. You are paying them to build bigger buildings and to have better furniture than you."- Chris Hogan Video
So very true!
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