This one thing keeps the middle and low income earners stuck.

In my late teens and twenties I was a car guy. I thought that for me to drive a nice car I would always have a car payment. A nice car, practically meant, that it would be reliable and I wouldn’t have to worry about issues all of the time.

However, I know practically it made sense to say reliable, but we all know that the even more important aspect of a nice car meant it needed to look a certain way and it make me a feel a certain way when I was driving it.

Having this ingrained in me by my parents history with cars and then affirmed with my environment and people around me, along with my twenty year old ego. I was a layup for a sales person on a car lot.

Then one day I heard someone say this:

“Poor people ask how much down and how much a month, and Rich people ask how much.”

Maybe this isn’t as profound to you as it was to me, but at the time in my life that I heard this, it really struck a chord with me and changed my life for the better being almost twenty years removed from hearing it for the first time.

I always wanted to be rich. Whatever that meant to me at the time. Today it has a different meaning than it did then. But for the most part I don’t want to have to struggle with money. Period.

Once I changed my thinking, I paid off my car. I am still driving that car today. I was then able to take the money I was spending on a car payment and invest it in real estate. I bought five properties over the next four years.

Today my car is worth roughly $3,000 dollars. The five houses I bought are worth roughly about $700,000. The only way I was able to buy those houses was by getting rid of that car payment.

I personally believe that the car payment is one of the major expenses that keep middle and lower income people stuck there. Because they are spending all of their extra money on a car.

Look I get it. We all want a reliable car. But the myth that a car payment is required to drive a nice car is just that. It is a myth.

I know I talked about the car payment a lot here, but you can take this same thinking in all aspects of your life.

Where else in your life are you spending money as if you are a poor person and need to change your thinking to think like a rich person.

Rich people save and invest first and spend what is left. Where the poor spend first and invest and save what is left.

My hope is I encouraged you to think about your money habits.

To your success and your future.

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