OWE or OWN?

Two words: “OWE” and “OWN”

The words share the same first two letters, but the third letter makes all the difference!

When you purchase a car with cash, you owN it. If it is financed, you owE it.

Here’s the difference the third letter makes:

  1. A different future.  Owning equals no future payments. Owing means you’ve pledged away future income.
  2. Stress.  Owning equals reduced stress. Owing means HAVING to produce income just to hand it over to the bank.
  3. Relationship.  Owning equals positive relationship. Owing means there is a unique “borrower-lender” relationship where the lender has the right to bother and hassle you should you fail to meet every part of the lending agreement.

Do you OWE or OWN?

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