WEBVTT 1 00:00:00.160 --> 00:00:04.559 There is a fixed expense that we all have within our budget and it is 2 00:00:05.040 --> 00:00:08.960 health for our purchases. In pharmacy we use our allies of extra pharmaceutical, 3 00:00:09.320 --> 00:00:14.560 taking advantage that they have a 20% fixed discount without minimum amount in person 4 00:00:14.599 --> 00:00:19.879 or at home in order to optimize expenses. Definitely, taking advantage of this 5 00:00:19.960 --> 00:00:24.359 kind of benefits makes a difference with your pocket. Don' t stop taking 6 00:00:24.480 --> 00:00:27.679 advantage of everything that offers you extra pharma. Yes, let' s get 7 00:00:27.800 --> 00:00:36.079 them on Instagram and learn about all their benefits. Welcome to Economics tata your 8 00:00:36.280 --> 00:00:41.880 finance podcast. Here we will speak lightly and sincerely of money, where together 9 00:00:41.920 --> 00:00:48.240 we will turn the difficult into easy and clear we will take our finances to 10 00:00:48.240 --> 00:00:52.560 another level. From now on, your numbers will be as if you' 11 00:00:52.640 --> 00:00:57.960 ve never committed errols for a choice past, a healthy present, a promising 12 00:00:58.000 --> 00:01:02.479 future, and a grateful pocket. That' s why we' re following 13 00:01:02.479 --> 00:01:04.120 us on Instagram, Facebook, tik tok, Linkedin and Twitter. Arroba economic 14 00:01:04.239 --> 00:01:08.480 silver welcome to a new episode of Economics, tata to your favorite finance podcast. 15 00:01:10.159 --> 00:01:11.840 I' m Kimberley and I' m already working. Today we will 16 00:01:12.000 --> 00:01:18.359 talk about the major headache of many people, about something that gives them anxiety, 17 00:01:19.120 --> 00:01:23.560 fear of uncertainty, which they prefer to avoid because if in the face 18 00:01:23.599 --> 00:01:27.239 of what we are going to talk about today, it is something that can 19 00:01:27.280 --> 00:01:32.120 affect them greatly throughout their life, when for us it is totally the opposite. 20 00:01:32.480 --> 00:01:34.959 What are we going to talk about today? Laura from my dear debts, 21 00:01:36.120 --> 00:01:38.719 but I feel like you' re saying the opposite for us. But 22 00:01:38.719 --> 00:01:45.159 I think we' ve acquired that knowledge of losing fear over time, because 23 00:01:45.280 --> 00:01:47.640 I don' t know you, but I, in my house, never 24 00:01:47.760 --> 00:01:51.760 talked about taking a loan like that one didn' t talk about it and 25 00:01:52.239 --> 00:01:56.519 like I wasn' t educated about it, just like in the finance issue, 26 00:01:56.640 --> 00:02:00.959 that' s you that nobody prepares you to say that a loan isn 27 00:02:01.000 --> 00:02:06.799 ' t a bad thing, but as a loan can drive you to achieve 28 00:02:06.799 --> 00:02:08.919 your goals. It' s just that in your case, there was no 29 00:02:08.919 --> 00:02:12.639 such thing. Right, yes, there' s never been any talk about 30 00:02:12.800 --> 00:02:15.560 it You knew if your parents were in debt or knew anything. No. 31 00:02:15.879 --> 00:02:19.560 In my case, very much like IT, until the day came when I 32 00:02:19.599 --> 00:02:22.599 got a credit card, an extension, but they never told me anything look 33 00:02:22.680 --> 00:02:24.840 so that as you know me, you know me here on the credit card. 34 00:02:27.080 --> 00:02:30.319 They didn' t tell me about boundaries, they didn' t tell 35 00:02:30.360 --> 00:02:34.039 me about dates, they didn' t tell me that money came from somewhere, 36 00:02:34.319 --> 00:02:37.879 they didn' t just take it, and you didn' t even 37 00:02:37.919 --> 00:02:38.919 know if your house took a loan or if your parents' car took a 38 00:02:38.919 --> 00:02:43.680 loan. I mean, you know, you know, you know, you 39 00:02:43.960 --> 00:02:46.039 know, you know, you know, you know, you know, you 40 00:02:46.159 --> 00:02:46.439 know, you know, you know, you know, you know, you 41 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 42 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 43 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 44 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 45 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 46 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 47 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 48 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 49 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 50 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 51 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 52 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 53 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 54 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 55 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 56 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 57 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 58 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 59 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 60 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 61 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 62 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 63 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 64 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 65 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 66 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 67 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 68 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 69 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 70 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 71 00:02:46.439 --> 00:02:46.439 know, you know, you know, you know, you know, you 72 00:02:46.439 --> 00:02:51.719 know, Look, gentlemen, where we' re living, we' re 73 00:02:51.919 --> 00:02:55.960 paying a loan for this. I saved for an initial that helped us have 74 00:02:57.080 --> 00:03:01.680 this roof that we have today then or you' re creating maybe that fear, 75 00:03:01.800 --> 00:03:06.400 because what you see is that there' s a loan. That' 76 00:03:06.439 --> 00:03:08.120 s gonna cost me That' s got an interest rate. I' m 77 00:03:08.159 --> 00:03:12.199 going to get in there I' m going to throw them at the target. 78 00:03:12.400 --> 00:03:15.159 It' s a can give you profit, because there are people who 79 00:03:15.199 --> 00:03:15.879 also feel about it, like I want to earn it all from the bank. 80 00:03:15.960 --> 00:03:17.560 You' re not going to gain any weight from me. I' 81 00:03:17.560 --> 00:03:20.639 m not taking a loan, I' m not taking a loan. I 82 00:03:20.639 --> 00:03:23.520 ' m gonna save all the money for a house. So, how long 83 00:03:23.639 --> 00:03:25.840 will it take me to have that amount in two thousand and five hundred years? 84 00:03:28.439 --> 00:03:31.800 Well, then, to get into matter, we put a square, 85 00:03:32.400 --> 00:03:38.319 a question box. Well, several boxes on our Instagram for people to tell 86 00:03:38.400 --> 00:03:42.800 us how they feel about debts and I can tell them that the Mayans, 87 00:03:43.840 --> 00:03:50.840 that is, the answers that prevailed in this poll. I feel anxious, 88 00:03:51.240 --> 00:03:58.759 stressed, anxious, scared, scared, super stressed, distressed, exhausted and 89 00:03:58.960 --> 00:04:02.080 I haven' t taken any loans yet. Wow. Wow. It creates 90 00:04:02.080 --> 00:04:05.960 anxiety, it creates panic, it gives me uncertainty, I don' t 91 00:04:06.039 --> 00:04:09.599 know if I can afford it, how much it will affect my future. 92 00:04:10.439 --> 00:04:14.080 I' m afraid, because right now I' ve managed to settle them, 93 00:04:14.960 --> 00:04:17.120 I mean, imagine you. The fear stays even when you' ve 94 00:04:17.199 --> 00:04:23.240 already settled the debts. WOW, then we ask and here goes a million 95 00:04:23.639 --> 00:04:30.000 - dollar doubt. It' s either good or bad debts. Tell us 96 00:04:30.279 --> 00:04:34.040 below, in the video, in the comments, both in Spotify, on 97 00:04:34.079 --> 00:04:40.800 YouTube and in the real that we raise debts are good or bad. Well, 98 00:04:40.839 --> 00:04:46.600 here are the answers from Instagram followers who tell us they' re good. 99 00:04:46.279 --> 00:04:50.160 In some cases it depends on IT. I like that answer, because 100 00:04:50.279 --> 00:04:56.360 it doesn' t depend on the air of thinking about you They' re 101 00:04:56.360 --> 00:04:58.399 bad, but sometimes there' s no other. Listen to these answers. 102 00:04:58.639 --> 00:05:02.519 That depends on you is very interesting, because a good debt can become a 103 00:05:02.600 --> 00:05:08.639 bad debt for you. If you take it a long time ago, if 104 00:05:08.720 --> 00:05:12.560 you don' t pay it on time, even if it' s a 105 00:05:12.600 --> 00:05:14.560 good debt, we' ll talk about what good debts are. If you 106 00:05:14.560 --> 00:05:16.639 don' t commit to it, it' s going to be a bad 107 00:05:16.680 --> 00:05:21.199 debt for your financial landscape. So are others who say that I understand that 108 00:05:21.240 --> 00:05:28.079 they are bad. Someone wrote referring to a Kiyosaki book as entering the rat 109 00:05:28.399 --> 00:05:34.160 race. Others say ay buenos, there are bad, but if they are 110 00:05:34.279 --> 00:05:40.879 bad, they are very bad Ok. Gentlemen may be good, but I 111 00:05:40.920 --> 00:05:46.680 ' m terrified. I say that for one to be able to first understand 112 00:05:46.759 --> 00:05:49.360 how one feels about debts. We need to look further back. We need 113 00:05:49.399 --> 00:05:54.800 to see why we feel that way about debts. It was that they told 114 00:05:54.879 --> 00:05:57.959 us bad about the debts. It was that when I was growing up, 115 00:05:58.120 --> 00:06:00.079 I saw that my parents were in a debt mess, I saw that my 116 00:06:00.079 --> 00:06:04.240 uncles were in a debt mess, I saw that someone my family who brow 117 00:06:04.240 --> 00:06:08.279 that a neighbor seized him, that is, what happened in the history of 118 00:06:08.319 --> 00:06:10.120 my life so that I felt like that with the debts. It' s 119 00:06:10.199 --> 00:06:14.759 something you have to internalize, because it' s something that definitely comes from 120 00:06:14.839 --> 00:06:17.279 behind, because you just didn' t open your eyes and there I' 121 00:06:17.279 --> 00:06:19.360 m afraid of debts. That doesn' t come from some ori. Of 122 00:06:19.720 --> 00:06:25.720 course, then you have to identify that origin in order to work it, 123 00:06:25.720 --> 00:06:29.600 in order to break it. Also, gentlemen, we have to understand that 124 00:06:29.680 --> 00:06:32.519 what many people were saying, that you were telling us laura, that there 125 00:06:32.639 --> 00:06:38.319 are good debts, there are bad debts, but it is also up to 126 00:06:38.319 --> 00:06:41.439 you that those good debts are good. They' re not always going to 127 00:06:41.519 --> 00:06:44.839 be good because they are, but it depends on you, on your handling, 128 00:06:45.079 --> 00:06:47.879 it depends on you taking it in the right financial time for you that 129 00:06:47.920 --> 00:06:51.680 you can pay that fee, that you can even make payments to that fee 130 00:06:51.720 --> 00:06:56.040 to lower the financial burden and everything else. And I' m telling you 131 00:06:56.079 --> 00:07:00.480 something that I really mean, I' m really happy to have this po, 132 00:07:00.560 --> 00:07:02.639 because the truth is that taking a debt I mean, let' s 133 00:07:02.720 --> 00:07:06.480 be clear here we' re honest. It' s stressful, that is, 134 00:07:08.120 --> 00:07:12.319 it' s stressful and more when you don' t have all the 135 00:07:12.439 --> 00:07:15.199 knowledge, when you don' t have all the details, so I' 136 00:07:15.240 --> 00:07:19.120 m really glad that we do this episode so that people, when they' 137 00:07:19.240 --> 00:07:24.000 re in that search process, of a search vehicle, of a real estate, 138 00:07:24.800 --> 00:07:30.920 which is not an easy decision, it takes time to reach this capital 139 00:07:30.079 --> 00:07:33.399 to take this debt and acquire that property that if they see houses, that 140 00:07:33.439 --> 00:07:38.560 if they compare that if the debt is very high, that if they don 141 00:07:38.600 --> 00:07:41.480 ' t, I mean, it' s a process that really, if 142 00:07:41.480 --> 00:07:42.680 we don' t have information, can become very stressful. If we don 143 00:07:42.759 --> 00:07:48.160 ' t have what details we have to take into account, it can unsquare 144 00:07:48.279 --> 00:07:56.959 a financial picture If we don' t have all the advice we should give 145 00:07:56.959 --> 00:08:00.560 before taking a loan don' t take them and already after we' re 146 00:08:00.560 --> 00:08:05.959 in trouble see what we' re going to do, so this episode is 147 00:08:07.000 --> 00:08:11.879 going to be very much like a guide for those people to take into account 148 00:08:11.959 --> 00:08:11.160 first that it' s a good debt, which is a bad debt. 149 00:08:11.240 --> 00:08:16.800 What I have to take into account when taking the, what methods I can 150 00:08:16.959 --> 00:08:20.040 do to settle it before this time. Taking a loan to twenty years, 151 00:08:20.120 --> 00:08:22.959 thirty years does not mean that I have to last that term, so we 152 00:08:24.079 --> 00:08:33.759 can go further to create a plan methods to settle debts and take advantage of 153 00:08:33.840 --> 00:08:37.039 those surpluses that we believe by saving them and supporting them for other goals. 154 00:08:37.559 --> 00:08:43.919 If you hit the nail, debts definitely depend on the information you have. 155 00:08:46.960 --> 00:08:50.360 Depends on how you feel about them. How stressed you are in the process, 156 00:08:50.840 --> 00:08:52.559 in the interim of your request, of your signing that document, of 157 00:08:52.679 --> 00:08:56.919 your deciding to take a debt depends on how much information you have, because 158 00:08:58.000 --> 00:09:01.039 it is that without that information you feel to him and above all with something 159 00:09:01.080 --> 00:09:05.360 that involves money and that also involves an expense for you, because we are 160 00:09:05.440 --> 00:09:09.360 talking about interests and many other casts that come to the side of the debt. 161 00:09:09.720 --> 00:09:11.919 Imagine taking that with a blindfold that you don' t know you signed 162 00:09:11.960 --> 00:09:16.559 a fifty- page document and you didn' t understand half of what the 163 00:09:16.559 --> 00:09:22.039 document says and I don' t take advantage of, for example, doing 164 00:09:22.320 --> 00:09:26.559 the tricks that allow me to make extraordinary love and everything else. I mean, 165 00:09:26.000 --> 00:09:31.559 today we' re gonna have this whole guide all the way we started. 166 00:09:31.639 --> 00:09:37.559 Or let' s say already, we' ve borrowed both vehicle saints 167 00:09:37.639 --> 00:09:41.960 as a mortgage and I' m in the process, gentlemen, of taking 168 00:09:41.039 --> 00:09:45.879 another, but that' s very mortgage and suppose I know nothing. What 169 00:09:45.919 --> 00:09:48.720 ' s the first thing I have to take into account here I really want 170 00:09:48.840 --> 00:09:52.279 to buy a house. What details do I have to see. Look, 171 00:09:52.399 --> 00:09:56.639 you have to see a lot of things, because for you to be able 172 00:09:56.679 --> 00:09:58.440 to buy a real estate, you need a little money. I mean, 173 00:09:58.519 --> 00:10:01.720 you say you can' t jump at night to say I' m going 174 00:10:01.759 --> 00:10:03.559 to buy a house, I mean, I woke up today I want a 175 00:10:03.559 --> 00:10:05.919 house. No, I mean in a house, it' s not a 176 00:10:05.960 --> 00:10:09.639 bottle of water you' re gonna buy. It is a good that requires 177 00:10:09.759 --> 00:10:13.759 a lot of preparation. So you need to know before I mean, you 178 00:10:13.799 --> 00:10:16.639 can' t say I want to buy a real estate. I don' 179 00:10:16.679 --> 00:10:20.320 t mean I have to meet before I need an initial. I need to 180 00:10:20.360 --> 00:10:24.879 cover the costs that the Bank is also going to ask for those legal costs 181 00:10:24.879 --> 00:10:26.480 from the Bank. Everything else, I need to be in the building. 182 00:10:26.559 --> 00:10:31.200 I also need to know the tax scheme that comes next. I sign that 183 00:10:31.279 --> 00:10:35.279 loan, which is the transfer tax. But also, with the interim passing 184 00:10:35.799 --> 00:10:39.279 of the years, there are taxes that can also fall you depending on the 185 00:10:39.320 --> 00:10:45.080 property you have and depending on the value of that property. But we' 186 00:10:45.120 --> 00:10:48.240 re talking about a lot of costs that depend on you true to your preparation. 187 00:10:48.279 --> 00:10:52.000 Then you have to know all that. Then we need to get into 188 00:10:52.080 --> 00:10:56.039 what the Bank is asking of you, that is, what are those documents 189 00:10:56.080 --> 00:11:00.440 that the Bank requires, how I document it. Usually you tend to want, 190 00:11:00.600 --> 00:11:03.320 because obviously, your identity documents, the justification of how you generate income, 191 00:11:03.879 --> 00:11:09.120 how you are going to be useful actually paying that loan, your credit 192 00:11:09.200 --> 00:11:16.279 history that you care about everything We emphasize the importance of being able to build 193 00:11:16.279 --> 00:11:18.679 it correctly. Your evidence of income. The Bank is also asking you and, 194 00:11:20.120 --> 00:11:22.320 for example, in the United States, we are also asking for all 195 00:11:22.360 --> 00:11:26.039 the investments we have, that is, before there you look for a house. 196 00:11:26.159 --> 00:11:31.679 You have to have a prequalification, which is where you get your credit 197 00:11:31.759 --> 00:11:35.759 precisely, that is, here comes the importance of having a good credit score, 198 00:11:35.240 --> 00:11:39.840 because on that will depend the good conditions that You can get tell yourself 199 00:11:39.840 --> 00:11:46.559 good interest rate, good conditions that allow me to make extraordinary fertilizers. You 200 00:11:46.679 --> 00:11:48.559 can negotiate the cup a little bit, and that' s very important. 201 00:11:48.639 --> 00:11:52.519 Keimerly doesn' t necessarily leave with the first rate that gives you bank, 202 00:11:52.639 --> 00:11:56.759 that is, one, always has to compare. Not the first option is 203 00:11:56.799 --> 00:12:01.159 going to be the best and once you compare let' s say that you 204 00:12:01.159 --> 00:12:05.600 can go back to that institution and tell him to look at this other institution 205 00:12:05.600 --> 00:12:11.159 they' re giving me a better rate, or they gave me the benefit 206 00:12:11.240 --> 00:12:13.360 of making extraordinary fertilizers and maybe they can negotiate with you that other condition. 207 00:12:13.440 --> 00:12:16.799 So it is very important that we take into account, as we said, 208 00:12:18.120 --> 00:12:22.639 either the value of the property or the value of the vehicle, because it 209 00:12:22.679 --> 00:12:30.200 can also be a vehicle loan that we actually make a scenario that goes according 210 00:12:30.200 --> 00:12:33.399 to what we can afford, because obviously you have a mountain in your head. 211 00:12:33.559 --> 00:12:37.759 But if I don' t set the scenario of how much the rate 212 00:12:37.799 --> 00:12:41.679 is now on mortgage loans or vehicle loans, and if that monthly fee I 213 00:12:41.759 --> 00:12:46.360 won' t be able to cover it, I' m taking a bad 214 00:12:46.360 --> 00:12:48.159 debt exactly. It' s very important. We will put a link of 215 00:12:48.360 --> 00:12:54.240 some calculators where listeners can make their scenario according to the rates they can see 216 00:12:54.279 --> 00:12:58.120 on the market that they ask according to their credit score, and make a 217 00:12:58.440 --> 00:13:03.879 scenario of what I can afford monthly, both for that vehicle, but as 218 00:13:03.960 --> 00:13:09.679 for that property. Yes, the app you already use is called App Long 219 00:13:09.879 --> 00:13:15.440 call as a calculator and there I can place the amount. It' s 220 00:13:15.600 --> 00:13:18.039 the capital I want to borrow. I place the months, the amount of 221 00:13:18.080 --> 00:13:22.200 months and I put the cup and there it tells me immediately I throw the 222 00:13:22.200 --> 00:13:28.600 amortization table of how much I would have to be paying due for that loans 223 00:13:28.639 --> 00:13:31.720 without taking into account the insurance that is a separate cost. But it' 224 00:13:31.000 --> 00:13:35.360 s a tool that really helps you evaluate if you' re really going to 225 00:13:35.360 --> 00:13:39.200 be able to cover that fee. Usually a person falls into an over- 226 00:13:39.480 --> 00:13:43.519 endoding scenario by the time he passes thirty, thirty- five percent of what 227 00:13:43.519 --> 00:13:46.919 he enters by paying for it we enter. So that' s a number 228 00:13:46.000 --> 00:13:50.840 we need to keep in mind so we don' t just fall into living 229 00:13:50.919 --> 00:13:56.000 to pay debts, because there' s also a stress coming from there that 230 00:13:56.000 --> 00:13:58.320 I don' t want any more debts because look at how I' m 231 00:13:58.399 --> 00:14:01.200 extremely drowned, but it' s just that you didn' t do the 232 00:14:01.200 --> 00:14:01.279 homework, that is, the problem is yours not the debt. You totally 233 00:14:01.360 --> 00:14:05.480 didn' t do that scenario, that calculation that we have to do to 234 00:14:05.559 --> 00:14:09.879 see if we can afford it monthly, because a lot of people focus on 235 00:14:09.919 --> 00:14:15.399 the initial, on reaching the 20 percent initial, but we don' t 236 00:14:15.480 --> 00:14:20.159 know that apart there are other costs like those that mentioned legal kimberligastos, taxes, 237 00:14:20.159 --> 00:14:22.320 monthly maintenance. That is, it is not only, gentlemen, to 238 00:14:22.320 --> 00:14:26.799 reach twenty percent initial, but also to know if monthly. I' m 239 00:14:26.879 --> 00:14:31.799 gonna be able to afford that,' cause that' s gonna break your 240 00:14:31.799 --> 00:14:35.000 financial landscape. In case you can' t the website that I use I 241 00:14:35.080 --> 00:14:41.759 ' m going to put it here too it' s morgage painting calculator that 242 00:14:41.759 --> 00:14:43.519 is online on Google. They can look for it and there they also tell 243 00:14:43.559 --> 00:14:48.039 you the case of those who live in the United States, they put you 244 00:14:48.519 --> 00:14:52.399 property taxes, they put you a choy or you put it according to the 245 00:14:52.399 --> 00:14:56.919 fact that it pays the housing that you are looking for. The acho is 246 00:14:56.960 --> 00:15:05.279 simply monthly maintenance. There is also something there that allows you to give less 247 00:15:05.360 --> 00:15:09.799 than twenty percent of America' s start. In the United States you are 248 00:15:09.960 --> 00:15:13.200 allowed to give less than twenty percent of the property. But in case you 249 00:15:13.200 --> 00:15:16.879 give less than twenty percent, let' s say you give five percent, 250 00:15:16.120 --> 00:15:20.440 ten percent, you have to pay an additional insurance that' s called piema 251 00:15:20.480 --> 00:15:26.480 Y and in that calculator you can also include the piema and because it' 252 00:15:26.960 --> 00:15:30.320 s a monthly expense that you' re going to have by not giving twenty 253 00:15:30.440 --> 00:15:33.600 percent. I mean, ideally, you can be 20 percent. But in 254 00:15:33.679 --> 00:15:37.200 case you' ve already made the decision that you have maybe fifteen percent and 255 00:15:37.320 --> 00:15:41.000 you' re already going to commit that in the short term you' re 256 00:15:41.000 --> 00:15:45.919 going to reach twenty percent, because you know you' re going to have 257 00:15:45.960 --> 00:15:50.720 that monthly extra cost of the exact piema. Let us assume that you know 258 00:15:50.759 --> 00:15:54.200 all these expenses, that you are soaked, that you have this amount of 259 00:15:54.279 --> 00:15:58.600 initial already strengthened, well on track and you are already closer to taking the 260 00:15:58.600 --> 00:16:03.679 step. What is the task, because you have to call the banking institutions. 261 00:16:03.120 --> 00:16:07.200 He has to communicate, and I' m not just talking about banks. 262 00:16:07.279 --> 00:16:11.159 You can ask for a loan in the same way in cooperatives, in 263 00:16:11.159 --> 00:16:15.519 associations you save, we print in a bank that may not be multiple or 264 00:16:15.519 --> 00:16:22.559 you can compare in different institutions and ask. And here comes your homework and 265 00:16:22.559 --> 00:16:25.639 here comes that you' re going to sit with a blank sheet, with 266 00:16:25.720 --> 00:16:30.240 the huar open how you feel comfortable And you' re going to ask what 267 00:16:30.279 --> 00:16:33.600 are the rates that you offer me for loans the vehicle mortgage loans, for 268 00:16:33.720 --> 00:16:37.559 what term, and not only for what maturity period, but also for what 269 00:16:37.639 --> 00:16:41.399 term the cup is fixed when it starts to vary. All that I have 270 00:16:41.440 --> 00:16:45.440 to know. You can even ask for tables this amortization, where you can 271 00:16:45.559 --> 00:16:52.200 see how much you' re going to be paying for that loan and you 272 00:16:52.200 --> 00:16:55.679 can ask what the bank costs are, tell me about your raters how much 273 00:16:55.679 --> 00:17:00.120 they charge. You can tap into that single call from all the casts and 274 00:17:00.159 --> 00:17:03.799 you have to take into account when taking a loan. And since you' 275 00:17:03.799 --> 00:17:07.839 re going to be comparing and you' re going to call three, four 276 00:17:07.839 --> 00:17:11.279 or five six entities, don' t get tired, I mean, in 277 00:17:11.400 --> 00:17:12.519 the end it' s a job that combines you is a help to your 278 00:17:12.519 --> 00:17:15.480 pocket. There are people who get married and say it' s not that 279 00:17:15.559 --> 00:17:19.839 I' m married to a bank, but then you' re going to 280 00:17:19.880 --> 00:17:23.480 restrain yourself from another better chance, from another better condition in another institution, 281 00:17:23.880 --> 00:17:29.319 so I always recommend comparing, even you here that when you took your various 282 00:17:29.359 --> 00:17:30.519 loans, you took it in different institutions. Yes, I took two mortgage 283 00:17:30.559 --> 00:17:36.319 loans and two loaned this vehicle and the four, but we are in four 284 00:17:36.400 --> 00:17:40.559 different institutions, because, because I did my homework, I compared and at 285 00:17:40.640 --> 00:17:45.160 that time, where I took those loans, I agreed to one institution over 286 00:17:45.200 --> 00:17:48.799 another. And obviously, I prefer that, because in my pocket, what 287 00:17:48.839 --> 00:17:52.799 suits me the most, and that' s why I chose the loans, 288 00:17:52.200 --> 00:17:56.200 where at that moment it was totally convenient for me. I' ve also 289 00:17:56.279 --> 00:17:59.599 taken two loans, a mortgage and full of vehicles, and they were also 290 00:17:59.640 --> 00:18:03.039 in Stefa institution. And in this second immaculate thing I' m going to 291 00:18:03.119 --> 00:18:04.559 buy, I' m not going to marry the necessary one either. I 292 00:18:04.640 --> 00:18:08.240 said good if you don' t give me good rate at good conditions, 293 00:18:08.880 --> 00:18:12.279 because I compare because aha, very easy is to decide with the one who 294 00:18:12.720 --> 00:18:17.119 already gave me the cup, who already has my information, but if he 295 00:18:17.119 --> 00:18:19.759 is giving me a higher rate that people usually think. People say they' 296 00:18:19.799 --> 00:18:22.519 re what they have all of me, they' re what always help me. 297 00:18:23.160 --> 00:18:26.480 They' re always there. Aha, but compare me, kimerlay I 298 00:18:26.559 --> 00:18:30.599 ' ll tell you something, that is us. We got the credit to 299 00:18:30.720 --> 00:18:37.559 make that prequalification and that same day we were called without lying to twenty lenders 300 00:18:37.680 --> 00:18:42.799 what because it' s online and that is you have to go to an 301 00:18:42.839 --> 00:18:45.759 additional website that he too will put in the comments for people living in the 302 00:18:45.839 --> 00:18:51.440 United States is that I don' t remember the name. Then I' 303 00:18:51.480 --> 00:18:53.640 m going to put it there on the website, where it' s a 304 00:18:53.720 --> 00:18:59.440 government page that you can restrict those calls because, at the end of the 305 00:18:59.440 --> 00:19:03.079 day, those, as it' s digital, can share your information. 306 00:19:03.359 --> 00:19:07.720 But this website allows you to protect yourself. It is precisely from that that 307 00:19:07.359 --> 00:19:11.920 that I inform you of the exact person. I wrote to one person and 308 00:19:11.480 --> 00:19:18.279 20 people called me and 20 people called my husband. So this website that 309 00:19:18.319 --> 00:19:23.039 the U S government has is very important to protect your data and that they 310 00:19:23.119 --> 00:19:27.759 are not calling you people that you did not give your information and as you 311 00:19:27.839 --> 00:19:37.880 comment to yourself pro- user, the Superintendency of Banks here also has that 312 00:19:37.880 --> 00:19:41.720 facility, that facility that you can put your information so that they are not 313 00:19:41.759 --> 00:19:47.200 calling you for credit cards and loans, that is also a good tip where 314 00:19:47.319 --> 00:19:55.720 we are taking these loans. Also, there are more expensive debts than others. 315 00:19:55.799 --> 00:20:02.039 We' ve basically talked about mortgage loans, vehicle loans. But also 316 00:20:02.240 --> 00:20:07.680 a bad debt is to borrow by credit card or to borrow from a usurer 317 00:20:07.799 --> 00:20:18.559 who give too high crazy cups. So these are bad debts and that really 318 00:20:18.119 --> 00:20:22.599 we, when we see a person who has a debt with a credit card 319 00:20:22.720 --> 00:20:26.880 or a usurer, is a priority goal to settle as soon as possible. 320 00:20:26.480 --> 00:20:30.000 Why, because, in the case of credit cards you are debting yourself to 321 00:20:30.039 --> 00:20:33.200 sixty percent annually, both in pesos and dollars, So if right now you 322 00:20:33.519 --> 00:20:37.839 have a credit card debt in dollars, you have to settle it yesterday, 323 00:20:37.000 --> 00:20:42.720 of course because that will create a snowball of interest that will affect your pocket. 324 00:20:45.799 --> 00:20:51.680 Likewise, if you have debts with usurers, settle them as soon as 325 00:20:52.119 --> 00:20:57.160 possible for those goals that we sometimes go on a trip and give cards without 326 00:20:57.160 --> 00:21:00.640 control or, we ask for a loan, a usurer for not this trip, 327 00:21:00.839 --> 00:21:07.960 because at the end of the day you will be paying interest for years 328 00:21:07.039 --> 00:21:12.759 for a week that you went on a trip, that for that week perfectly 329 00:21:12.839 --> 00:21:18.519 you could plan, save and invest, and those same savings in those investment 330 00:21:18.599 --> 00:21:23.079 instruments will generate interest, that they will help you to experiences for that trip 331 00:21:23.279 --> 00:21:27.720 or to afford some food or support another goal that you have In conclusion, 332 00:21:29.200 --> 00:21:33.400 bad debts are those trips, those luxuries, those debts with credit cards where 333 00:21:33.400 --> 00:21:37.240 you are paying the minimum and each time you pay the minimum, then they 334 00:21:37.279 --> 00:21:40.880 will charge you five percent of everything that you owed on that card to that 335 00:21:41.000 --> 00:21:45.440 short, or not, or debts with usureros, good debts already being those 336 00:21:45.480 --> 00:21:49.680 doubts that if you report something positive monetaryly speaking and in the case, for 337 00:21:49.720 --> 00:21:53.200 example, of education, I say that maybe not monetaryly so direct that you 338 00:21:53.279 --> 00:21:59.039 see it immediately, but in the long term, of income, of course 339 00:21:59.200 --> 00:22:03.839 it gives you greater possibility. So good debts, a piece of furniture. 340 00:22:04.640 --> 00:22:08.359 There are some financial specialists who say that it' s not a bad debt, 341 00:22:08.640 --> 00:22:12.880 that you better pay rent. I differ I differ I have my property 342 00:22:14.160 --> 00:22:18.519 debt and I feel much more at peace with myself to be paying that fee 343 00:22:18.559 --> 00:22:22.279 for a loan from a property that is mine and that is rising plus worth 344 00:22:22.400 --> 00:22:27.359 and that eventually I can rent it too, or I can sell it with 345 00:22:27.400 --> 00:22:33.319 plus worth to me to be paying a rent as long as it lasts years 346 00:22:33.359 --> 00:22:36.279 paying And I remember, when I calculated, I paid like two million and 347 00:22:36.279 --> 00:22:38.640 a peak of pesos in rent and that was at a rate of one hundred 348 00:22:38.720 --> 00:22:44.160 percent. Of course, a gift has a friend, that' s yours 349 00:22:44.200 --> 00:22:47.960 for your asset that you have, that you did fund and maybe my Angelio 350 00:22:48.119 --> 00:22:51.480 would cover your loan, that' s exactly what I' m going to 351 00:22:51.599 --> 00:22:55.920 do with my first property. I' m going to leave it rented and 352 00:22:55.960 --> 00:23:00.160 that' s going to pay the loan fee, the maintenance, the taxes 353 00:23:00.160 --> 00:23:04.440 and it' s going to leave us a little bit more monthly amen So, 354 00:23:04.640 --> 00:23:07.799 there you' re creating a heritage without you noticing clearly. So that 355 00:23:07.839 --> 00:23:12.039 ' s definitely an investment or an expense. Another debt and good can be 356 00:23:12.480 --> 00:23:18.559 it these people who are brilliant, who take a loan at a lower cost, 357 00:23:18.640 --> 00:23:22.200 at a lower rate, then take this money and invest it in either 358 00:23:22.519 --> 00:23:26.559 a business, either a company, either in the same stock market, in 359 00:23:26.599 --> 00:23:30.079 a bond, in some product that generates you a larger cup, so you 360 00:23:30.160 --> 00:23:36.720 ' re earning the spread. You' re basically making money out of intermediation, 361 00:23:37.039 --> 00:23:38.920 you' re making treasury yourself. So, that kind of debt is 362 00:23:38.960 --> 00:23:44.720 positive, but, as we mentioned at the beginning, any of these good 363 00:23:44.880 --> 00:23:48.039 positive teudas that they bring to you can be converted. There are negatives and 364 00:23:48.119 --> 00:23:51.759 you take it at a time when you' re drowning, where you' 365 00:23:51.839 --> 00:23:55.920 re paying more than thirty- five percent of your income in installments alone. 366 00:23:55.960 --> 00:24:00.000 So here that debt is no longer pretty, it' s no longer good, 367 00:24:00.440 --> 00:24:03.920 it' s paying you back and it' s become a debt that 368 00:24:03.279 --> 00:24:07.480 can affect you a lot, because of course, when debts aren' t 369 00:24:07.480 --> 00:24:11.400 handled properly, they can affect you, they can damage your history, as 370 00:24:11.400 --> 00:24:18.359 you say the history. Creditio goes up the stairs, exactly. Yes, 371 00:24:18.440 --> 00:24:21.200 yes, yes, and it' s real, sir The score is real. 372 00:24:21.279 --> 00:24:25.680 Creditio climbs up the stairs, because late up he hears as much as 373 00:24:25.720 --> 00:24:30.160 you behave well that goes up there on the step, step by step, 374 00:24:30.359 --> 00:24:33.039 ladder by ladder and comes down this fast by the elevator, by an elevator 375 00:24:33.160 --> 00:24:37.960 of these fast. And now here, since we' ve talked about what 376 00:24:38.039 --> 00:24:42.279 a good debt is, what a bad debt is, what details we have 377 00:24:42.319 --> 00:24:48.400 to take into account when taking a debt, because we' re going to 378 00:24:48.480 --> 00:24:52.680 talk a little bit about the methods for us to settle these debts. One 379 00:24:52.000 --> 00:24:56.839 first understand that, from our point of view, you' re never going 380 00:24:56.839 --> 00:25:02.119 to take a debt to keep it to maturity. That' s not financially 381 00:25:02.119 --> 00:25:03.559 smart. If you' re going to take a debt that can, for 382 00:25:03.680 --> 00:25:07.920 example, be a swim of vehicles that expires in five or seven years or 383 00:25:07.960 --> 00:25:11.559 a mortgage finger that expires in twenty, twenty- five, thirty years, 384 00:25:11.920 --> 00:25:15.079 you' re never going to stay in life paying that up to maturity, 385 00:25:15.960 --> 00:25:19.920 because you' re going to be paying three, four, or five times 386 00:25:19.920 --> 00:25:21.920 the real amount of that that you' re acquiring. So you take a 387 00:25:22.000 --> 00:25:25.200 debt, well you can take it to a longer term With that and I 388 00:25:25.279 --> 00:25:29.039 don' t have a problem, because there are people who also say the 389 00:25:29.119 --> 00:25:30.559 maximum term of a mortgage loan is thirty years, but I' m not 390 00:25:30.680 --> 00:25:33.400 going to take it more than fifteen years. Of course not. I don 391 00:25:33.400 --> 00:25:36.079 ' t mean, I don' t have any problems, even if you 392 00:25:36.079 --> 00:25:40.519 take it for thirty years, because that fee accommodates you at that time, 393 00:25:41.079 --> 00:25:45.440 as long as your number one business, let' s have extraordinary loans for 394 00:25:45.519 --> 00:25:51.480 that loan without penalty and number two that you' re planning, as we 395 00:25:51.519 --> 00:25:52.279 ' re going to teach you now to make extraordinary payments that debt and lower 396 00:25:52.279 --> 00:25:56.880 the deadline. So there, every time you make that thirty- year fertilizer, 397 00:25:56.160 --> 00:25:59.519 you' re going to get it down and maybe it' s going 398 00:25:59.640 --> 00:26:02.880 to go down in three years, four, years, two years, and 399 00:26:03.000 --> 00:26:06.400 already there you' re seeing that you' re not paying your debt thirty 400 00:26:06.400 --> 00:26:10.319 years, but that it' s so low that you' ve already ended 401 00:26:10.319 --> 00:26:15.440 up paying it in eighteen years, in seventeen years, and even an extra 402 00:26:15.480 --> 00:26:18.359 trick that you take into account is to include the clause that you' re 403 00:26:18.359 --> 00:26:22.559 allowed to cancel it early. So, apart from ok extra credits without penalty, 404 00:26:22.720 --> 00:26:26.440 also let me cancel it aptincupally because you don' t know if a 405 00:26:26.480 --> 00:26:33.559 bonus you have will help you too much to cancel long before, so it 406 00:26:33.640 --> 00:26:38.440 ' s very important that when we sign the contract, if we don' 407 00:26:38.519 --> 00:26:42.880 t understand from you, call that lawyer friend, that we all have a 408 00:26:44.359 --> 00:26:48.799 lawyer friend who will help you understand if it includes these clauses, so that 409 00:26:48.920 --> 00:26:52.200 you make sure that you are signing that loan with the best conditions. That 410 00:26:52.279 --> 00:26:55.640 ' s right, so tell me about those two methods. There are two 411 00:26:55.680 --> 00:26:57.720 methods that are for balance of debts. What is the snowball method, the 412 00:26:57.720 --> 00:27:03.240 vo of the snow method is the one that we focus on the outstanding balance 413 00:27:03.440 --> 00:27:07.480 of each debit, that is, we' re going to assume that we 414 00:27:07.559 --> 00:27:14.039 have several debts, let' s say mortgage loan, vehicle loan and personal 415 00:27:14.160 --> 00:27:17.680 loan, that is, we have three debts. What are we going to 416 00:27:17.720 --> 00:27:22.640 focus on this plan, because I have to make the caveat that I am 417 00:27:22.680 --> 00:27:26.559 going to continue paying all my monthly dues, that is here. That' 418 00:27:26.599 --> 00:27:33.839 s not negotiable. Here we continue to pay those three loans monthly on the 419 00:27:33.880 --> 00:27:41.480 set date, but additionally I will create an extra savings to support the balance 420 00:27:41.599 --> 00:27:47.559 of those debts in the snowball method. I' m going to organize my 421 00:27:47.680 --> 00:27:51.960 debts with the outstanding balance, that is, where, in order of amount 422 00:27:51.960 --> 00:27:56.200 of outstanding balance, and I' m going to focus from the smaller balance 423 00:27:56.240 --> 00:27:59.480 to the larger balance, that is, first. First, I' m 424 00:27:59.480 --> 00:28:06.200 going to put the loan that has the smallest outstanding balance and then I' 425 00:28:06.359 --> 00:28:07.039 m going to go on with the second one and then I' m going 426 00:28:07.039 --> 00:28:10.400 on with the third one. So what am I gonna do to those three 427 00:28:10.400 --> 00:28:15.920 loans? I pay the normal monthly fee and the first, which has less 428 00:28:15.119 --> 00:28:21.880 outstanding balance because I' m going to add a little bit, add an 429 00:28:21.880 --> 00:28:27.839 extra, to make an extraordinary payment And this is going to go little by 430 00:28:27.920 --> 00:28:33.039 little creating a snowball, because I' m going to go paying this first 431 00:28:33.039 --> 00:28:37.799 loan before the deadline. And when I get that first loan out, because 432 00:28:37.799 --> 00:28:42.079 I' m going to have a surplus, I' m going to have 433 00:28:42.160 --> 00:28:48.160 the extraordinary abon surplus plus that monthly fee that I had, and that' 434 00:28:48.200 --> 00:28:52.200 s going to add it to the second loan I had and so, little 435 00:28:52.200 --> 00:28:52.000 by little I' m creating a snowball. So I don' t focus 436 00:28:52.039 --> 00:28:56.240 here. I haven' t seen any interest rate here. Here, what 437 00:28:56.279 --> 00:29:00.000 I saw is the amount of the outstanding balance and I organized it from minor 438 00:29:00.079 --> 00:29:07.920 to major. This method works a lot for people who like to quickly cross 439 00:29:07.160 --> 00:29:11.799 out those goals, like ah look I' m out of it already. 440 00:29:11.160 --> 00:29:18.480 I think it' s psychological. I' d say that ah I' 441 00:29:18.519 --> 00:29:22.160 m skipping debts a little bit faster because I' m focusing on the lowest 442 00:29:22.160 --> 00:29:27.839 amount. Exactly then there is the avalanche method, which consists in your ordering 443 00:29:27.839 --> 00:29:33.440 the debts that you have in order of rate you will place the debt with 444 00:29:33.559 --> 00:29:36.880 the highest cup up to the debt with the lowest rate. So, if 445 00:29:36.960 --> 00:29:40.920 you, for example, have debt card, credit, debt and mortgage, 446 00:29:41.160 --> 00:29:44.559 vehicle debt, personal debt, because you' re going to sort it in 447 00:29:44.640 --> 00:29:49.240 order from higher cup to lower and you' re going to focus on going 448 00:29:49.799 --> 00:29:56.720 to the higher cup debt. Every month suppose that debt you are paying him 449 00:29:56.759 --> 00:30:00.279 ten thousand pesos of quota, for example, you will add to him the 450 00:30:00.359 --> 00:30:03.920 potential that you have to make that monthly payment, that is two thousand five 451 00:30:03.960 --> 00:30:07.920 hundred pesos, because every month you will continue to add two thousand five hundred 452 00:30:07.920 --> 00:30:12.200 your thousand five hundred to that main debt and the issues you continue to pay 453 00:30:12.279 --> 00:30:17.400 equal with the quota that you have normal already go t sardes that first debt 454 00:30:17.480 --> 00:30:21.279 of higher cup. You take both the share of that debt and what you 455 00:30:21.359 --> 00:30:25.920 were abhorring him extra and you go to the second major cup debt. And 456 00:30:26.000 --> 00:30:30.440 this causes an avalanche that you are shutting down your larger debts that cost you 457 00:30:30.519 --> 00:30:36.200 more of a higher rate up to the lower rate debt. This method, 458 00:30:36.200 --> 00:30:41.559 the avalanche method, if it makes a more economic sense, because you are 459 00:30:41.640 --> 00:30:45.400 attacking the debt that costs you the highest rate of debt. I really am 460 00:30:45.440 --> 00:30:49.599 very inclined to start attacking credit cards first, which are a very costly debt. 461 00:30:52.559 --> 00:30:56.039 We' re talking sixty percent a year. Then I focus on me 462 00:30:56.119 --> 00:31:00.720 going to be cute on those credit cards. I leave the card this credit, 463 00:31:00.799 --> 00:31:04.079 which is a big hole if you' re financing yourself with them and 464 00:31:04.160 --> 00:31:07.759 I keep on with my debts, you get taller. So that' s 465 00:31:07.240 --> 00:31:12.759 basically the trick for me. Yes, and even that avalanche method makes the 466 00:31:12.799 --> 00:31:19.640 most economic sense. And I would also like to make a disclaimer that in 467 00:31:19.640 --> 00:31:25.480 case you like the snowball and you have a debt on credit cards, because 468 00:31:25.559 --> 00:31:30.279 maybe focus on those and then you make the order of the amount from minor 469 00:31:30.519 --> 00:31:33.240 to major, because, as you say, a debt with credit card will 470 00:31:33.279 --> 00:31:40.519 square any panorama exactly in truth. That' s a combination that I use 471 00:31:40.559 --> 00:31:44.599 a lot in the financial advice of people who are highly indebted. I remember 472 00:31:44.640 --> 00:31:48.359 I got a guy who had seventeen WOW debts, and the first thing we 473 00:31:48.400 --> 00:31:51.759 did was put the six cards you had on the IBA Hey me. This 474 00:31:51.839 --> 00:31:55.359 is sinking you. We' re going to attack them six credit cards that 475 00:31:55.359 --> 00:31:57.960 you owe. We' re going to settle those credit cards or ask for 476 00:31:59.000 --> 00:32:01.640 a consolidation loan to s settle those cards and then we' re going to 477 00:32:02.119 --> 00:32:06.599 continue with the debt in order of amount using the snowball method. Yes, 478 00:32:06.880 --> 00:32:14.359 totally good, because I think, Kim, that here we gave a general 479 00:32:14.640 --> 00:32:20.680 introductory guide, but very important for those people who are in the process of 480 00:32:20.960 --> 00:32:25.680 taking a new debt or who already have a debt and want to make a 481 00:32:25.799 --> 00:32:30.799 plan, they didn' t know how to do it, because using one 482 00:32:30.799 --> 00:32:34.680 of these methods. So I feel like it' s so good for those 483 00:32:35.119 --> 00:32:38.440 people who are about to take a debt and have no idea what they have 484 00:32:38.519 --> 00:32:43.440 to take into account. And that you see those people who already have debts 485 00:32:43.480 --> 00:32:46.079 and maybe they feel a little bit drowned or feel that they will never finish 486 00:32:46.160 --> 00:32:52.640 paying them, because here we talk about those two methods so that you can 487 00:32:52.759 --> 00:32:59.359 apply it, take advantage of those extraordinary income that have that bonus, that 488 00:32:59.480 --> 00:33:01.799 they have every certain time, of or many people have it in April, 489 00:33:02.119 --> 00:33:08.160 because it is a good time for you not only to focus on the travel 490 00:33:08.319 --> 00:33:15.000 goals or to buy a luxury, but also to see those debts that you 491 00:33:15.000 --> 00:33:20.160 have and support them a little bit exactly, definitely a macro guide episode, 492 00:33:20.799 --> 00:33:24.039 so that you can know all the details that you should know about the debts, 493 00:33:24.200 --> 00:33:28.440 so that you will lose the fear that anxiety that we talked about at 494 00:33:28.519 --> 00:33:32.119 the beginning, that stress that gives you think about taking a debt and start 495 00:33:32.240 --> 00:33:35.240 seeing them as an ally that approaches you to every important financial goal that you 496 00:33:35.240 --> 00:33:37.440 will have throughout your life. If you think you' re going to take 497 00:33:37.440 --> 00:33:39.839 a loan in your life, I can assure you you' re wrong. 498 00:33:39.960 --> 00:33:45.559 And I don' t, I don' t bet, I don' 499 00:33:45.559 --> 00:33:46.759 t bet, but I will bet. I could bet the weight that at 500 00:33:46.799 --> 00:33:52.240 some point you' re going to take a debt, because eventually you' 501 00:33:52.480 --> 00:33:54.200 re going to need that banking institution for that push, for that goal. 502 00:33:54.759 --> 00:34:00.440 It is large mortgage of vehicle, of investment property, of business that will 503 00:34:00.559 --> 00:34:04.039 eventually come to your life, because in the end, all, although we 504 00:34:04.079 --> 00:34:08.440 are at different points, at some point we go through similar situations, similar 505 00:34:08.440 --> 00:34:10.360 needs. So it' s going to be your turn, buddy, it 506 00:34:10.440 --> 00:34:15.000 ' s going to be your turn and it' s good that you met 507 00:34:15.039 --> 00:34:21.679 this episode, you heard that information so that when that moment comes in front 508 00:34:21.719 --> 00:34:25.679 of you with all the base you need to do it without fear, we 509 00:34:25.719 --> 00:34:30.000 ' ll see you in a next episode share what I' m sure that 510 00:34:30.039 --> 00:34:34.639 here you ended up nourishing on a topic of debt that is very much needed, 511 00:34:34.719 --> 00:34:37.440 so it' s an episode that is worth repeating and it' s 512 00:34:37.119 --> 00:34:37.440 worth sharing with the whole family, with all the friends, we' ll 513 00:34:37.119 --> 00:34:37.440 see you in the next Chao