choice 1 : debt snowballing
choice 2: wealth snowballing
Similarities:
1. both are conceptually the same....law of compounding
2. both are easy for it to happen.
choice 1 : use credit card to buy branded bags and jewellery and fine dining regularly and pay the minimum, and use one credit card to pay for the next and pay the minimum sum. repeat process and the grave gets deeper exponentially.
choice 2 : just keep on adding when dividend/rental comes to buy more assets to produce more cashflow.
Difference:
one is getting rich faster the longer he is invested.
one is going bankrupt faster than he can imagine.
choice 2: wealth snowballing
Similarities:
1. both are conceptually the same....law of compounding
2. both are easy for it to happen.
choice 1 : use credit card to buy branded bags and jewellery and fine dining regularly and pay the minimum, and use one credit card to pay for the next and pay the minimum sum. repeat process and the grave gets deeper exponentially.
choice 2 : just keep on adding when dividend/rental comes to buy more assets to produce more cashflow.
Difference:
one is getting rich faster the longer he is invested.
one is going bankrupt faster than he can imagine.
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