When going shopping, plan what you NEED first, and then wait for it to go on sale. If the item on sale is not in your plan, you don't need it. And not buying something you don't need is like getting 100% discount.
When Debt
Can Increase
Your Net Worth
Can Increase
Your Net Worth
Making money isn't
just about cash.
just about cash.
Making money isn't just about cash. If you are acquiring property that holds or appreciates in value, you are increasing your net worth. The cost of the loan may be justified on this basis.
When Debt Can Increase
Here are some examples:
- Renovating your home. With a growing family, you may not have the cash to do the renovations when your need for space is greatest. If you wait you will lose the opportunity to raise your children in a nice home. As well renovating increases the value of your home giving you better options if you decide to move. My eco mortgage, at Capital Direct.
- Buying a vacation property. In many parts of Canada, real estate prices in cottage regions are soaring. Buying now gives your family the benefits, and the financing cost may be lower than what you would pay if you wait and buy at a higher price.
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