You buy a car for $300k You pay $7000 pm over a period of 60 month's.
After 60 month's you find that the value of the car is now $180000 meaning over the period of 60 months you've lost close to 50% of your money.
People where I come from celebrate paying of car's like it's sum major achievement when it's actually a major loss over the year's. What happened to buying a smashed vehicle for $20000 and fixing it for $10000 and driving it for five years. Your goal should not be paying of a $300k debt over five years your goal should be having an investment of $300k on your portfolio over the period of five years.
Imagine you work 40 hour's a week and half your salary goes towards paying off a depreciating liability. You work for debts and not for incomes yet you expect to be rich one day. Stop trying to meet society standards. The society in overall is in debt. Day and night on television we are sold debt. When you open your TV you see a new POLO better than the one you bought last year.
You see celebrities advertising alcohol and the lifestyle. Then when you get money the first thing you think of is buying what you've been seeing on the television.
How can you even have the courage to drive a car worth $300k when you don't even have $50k on investments? A lot of people who are said to be successful by our society are having sleepless nights sinking in debt they have depression it's just that they won't tell you because they know you worship them.
Instead they will try faking it even more.
Don't be a financial slave. The whole system is a trap. Social media is all a lie.
People are suffering silently and trying by all means to escape reality by faking it. It's like someone who's mastubating and thinking about his crush. Most people are not living the life that they are showing you.
If you want to be part of the 1% you must start thinking like the 1%. You can't get out of this system thinking like everyone ones.
The system was created so that you can be a slave all your life.