If you pay cash for something you still have an interest cost because you pass up the opportunity to make interest on your money. There’s an interest cost associated with all money and in this episode Kim and Spencer talk about the true interest cost.
Tune in with Kim D. H. Butler and Spencer Shaw to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at welcome@ProsperityThinkers.com and we may answer it in an upcoming episode.
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- 1:12 – You’re either paying interest or passing up interest.
- 3:10 – Understanding your interest cost
- 5:06 – How to measure your opportunity cost
- 6:23 – The dynamics of car loans
- 8:40 – Does it make sense to get a car loan or pay off mortgages early?
- 14:34 – A method for creating compound interest
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Disclosure: Our content is meant for educational purposes only. While it’s our goal to help you learn about building a life of prosperity, we do not intend to provide financial advice. Please consult your financial, tax or legal advisor before making any investment or financial decisions.