035 – To Finance Or Not To Finance (Using Your Power)
http://usingyourpower.com/035-finance...
Is it worth financing major and minor purchases? Should you get a loan? Should you carry a balance on your credit card from one month to the next?
In this episode of Using Your Power, David Andrew Wiebe and Maveen Kaura explore the upsides and downsides of financing.
Podcast Highlights:
00:00 – Audible book recommendation
00:36 – Introduction
01:06 – Helps you build credit
01:21 – High interest rates
01:47 – Collect points
01:59 – Commit to a monthly payment schedule
02:43 – Instant gratification
03:21 – Product loses value over time
04:01 – Would be hard to purchase product without financing
04:33 – Purchase products within your current budget
06:59 – Products/service not protected with cash vs. credit card
08:35 – Knowing your audience as the seller of the product/service
10:15 – Consider why you are going to finance your purchase
12:22 – Find ways to leverage money
13:55 – David's Summary
14:46 – Maveen's Summary
15:37 – Outro