From the course: Managing Your Personal Finances
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Spending on assets
From the course: Managing Your Personal Finances
Spending on assets
- When you buy something, wouldn't it be nice to be able to sell it later for at least the same price or more as what you paid. Imagine buying a pair of shoes for a hundred dollars in January, and selling them in June, for the same hundred dollars, well, things don't really work that way. Many things that we buy in life are consumed and used and lose their value soon after they're purchased. It's part of our modern world. Things are made to be disposed off, wear out or become obsolete, but there are things that we own that do hold their value, these are assets. And if you want to make the most of your spending, think of spending money on assets, not just consumables. So what is a good asset? The best assets are things that keep most of their value over time. Most people would think of a house as a good asset, and this is true for the most part. As long as we maintain them, houses can retain or even increase…
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