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Show#16 Millionaire or Bust – Purchasing Cars

September 22nd, 2006 · podcasts

Topic of the Week
The topic of the week is car purchasing. What should you look at before buying a vehicle.

http://www.consumerreports.org/ (It’s not free, it’s $26/yr, but it could be well worth it.)

Money Saving Tips
Money Saving Tip of the Week
Put an insulation blanket on your water heater. It will reduce your heating bill.

Talli’s Tightwad Tip of the Week
Take your grocery sacks back to the store and reuse them. Some stores may give you cash back. “Reduce Reuse Recycle.”

Tool of the Week
www.leaseguide.com

This website tells you all about how leases work, whether or not you should buy or lease a car for your personal situation and things to think about when you are contemplating leasing.

Financial Psychology
Schedule times to go out to dinner and stick to it. Don’t just stare at each other and say, “nothing at home sounds good to eat, let’s go out to ___________.” Once we start doing that it occurs more frequently.

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4 responses so far ↓

  • 1 Jim // Sep 27, 2006 at 5:52 pm

    Just curious…where does the “or Bust” come from in the name of the podcast?

    Also curious, and maybe I’m just being negative…how can someone that is not yet a millionaire have a show about beocming a millionaire?

    Good luck!

  • 2 David // Sep 28, 2006 at 10:05 am

    Ok, I’ll take your two questions in order. Don’t worry about negativity, I’m not thin skinned…

    1. Millionaire or Bust is a name which reflects two extremes of the wealth continuum. Being a “millionaire” represents being wealthy. While in today’s day and age the true extreme would be billionaire, that’s not a reasonable goal for the average person. I say that because not everyone can be that rich without all the right opportunities. Being a millionaire, however, is within reach if one makes enough of the right choices in life.

    “Bust” represents the other extreme which is low or zero net worth. Bankruptcy would be another term for it. This is a result that someone can achieve through horrible luck, supplemented by bad decisions or just very bad decisions.

    We could have named the show “Billionaire or Bankruptcy” or B.O.B. for short, but it doesn’t quite roll off the tongue. So, I fell back on “Millionaire” and the old American colloquialism, “or Bust” because it was shorter and had more punch.

    2. Ok, now for the second question. How can someone that is not yet a millionaire have a show about becoming a millionaire? Well let me pose a question first. How can someone teach someone how a bird flies without being a bird? A ridiculous comparison, you say? Not true. This is how we learned to make planes and fly ourselves.

    We can learn how things work by studying them. Then by implementing what we learn, we can hope to emulate them. If this weren’t possible then a millionaire couldn’t teach you how to be a millionaire because you weren’t one already. Supposing I haven’t reached the million dollar mark yet, I could still pass on what I’ve learned from those who have to our audience and that’s exactly what we’re doing. As to our net worth, I won’t disclose a number, but let’s just say that we’re moving it in the correct direction as I’m hoping this show will help our audience to so so, as well.

  • 3 Chris // Sep 29, 2006 at 8:32 am

    Good one david!!!!

    So Jim is all the teachers of Nobel Prize winners Nobel laureates ???
    I don’t think so!!!

  • 4 Andre // Oct 3, 2006 at 4:42 pm

    If only I knew these simple, simple tidbits before I ran out after graduating from college last year and buying a brand new car lol

    I’m buckling down though and have started my debt reduction program.

    Thanks for podcasting guys!

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