The above is a quote from the famous financial philosopher, Jay-Z.

But what does it really mean in all practicality? Does it mean you shouldn’t buy something until you have 2x what something costs sitting in your bank account? You should have 2x the net worth? This post will give a practical example of how I or a Robert Kiyosaki influenced person might look at the situation with everyone’s favorite money topic: Cars.

Buying a New Car

Let’s say you’re a financially responsible person not wanting to eat $10k in depreciation as soon as you drive a new car of the lot. So you chose a gently used red 2014 Audi A5 for $20k off of the CarLotz website (disclosure: I own $LOTZ for my growth portfolio).

If you finance it the numbers come close to $400/mo. It’s a tidy sum but affordable within your salary.

Financing Debt Payments with…

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