Millionaires Don’t Believe Crap Like This!

[Music] brought to you by the every dollar app start budgeting for free today my question is um I have a zero interest uh loan that was a medical expense and it sits around $15,000 and is it smarter to pay it off or to just pay it uh every month since uh compared to compared to inflation you know I'm making money just by paying it every month it would seem that's advice I was given what do you uh what do you make a year what's your income I make make approximately $80,000 a year I have several income sources okay I don't know who's giving you this advice but you need to stay away from them um they're not very smart um here here's why okay if you make 10% rate of return because you didn't pay this off and you kept $155,000 in a 10% investment you make $1,500 okay $100 a month $100 a month we have surveyed 10,167 millionaires 89% of them became millionair starting from nothing the number of them that became a millionaire because they failed to pay off a medical debt and instead invested the money and made 10% made $1,500 was precisely zero millionaires don't believe crap like this they get out of debt stay out of debt stay away from debt build an Investment Portfolio and that's how they become wealthy and so this is like you know well you should get all the airline miles you could get or you should you're going to get rich on 1% back from Discover Card which means by the way you spend $100,000 on your Discover Card you get $1,000 back now under what circumstances do you trade 100,000 for a th000 and that make you wealthy uh none okay I'll help you with that and so this this is the same kind of stuff so quit playing some kind of uh intellectual games with tiny little amounts of money that's not going to make you wealthy if you called me up and you said I got a mil 500,000 interest free I guess we could talk about that it'd be worth at least talking about I wouldn't do it but I we could at least have a discussion about it it's just not even worth talking about Mone he has 15,000 sitting in a savings account otherwise probably wouldn't have gone into debt for the medical so I just it's pay off as fast as you can pay it off it is living in your head rent free considering you called about it and for that reason alone just get rid of it it's not worth the mental energy and brain calories yeah exactly you're burning up stuff you don't need to burn up here for pennies just pennies couple dollars a day create your free every dollar budget today the simplest way to budget for your life