You've all heard the expression "the rich get richer and the poor get poorer" right?
Well to my way of thinking there is one major difference between financial winners and financial losers.
Winners borrow money at low rates of interest for assets such as property and shares that increase in value as time passes.
Losers on the other hand borrow at high rates of interest on consumables like furniture and cars that decrease in value, in the case of new cars around 20% as soon as they leave the showroom.
While interest rates are at the lowest they have been in years do the right thing (if you are able) and borrow some money to invest in quality assets.
Winners & Losers
July 15th, 2009 at 04:45 am