BROKE MENTALITY QUESTIONS: How Much Are The Payments?

I am passionate about helping people win with their money.  This means that I really focus on the statements that people make and how they make them.  I observe their body language, tone, pitch, and wording.

There are some statements that are particularly telling of what I call a “broke mentality” – the thinking of a financially broke individual.

One of those statements is “How much are the payments?”

People who are not broke ask the better question – “How much is the total cost – the purchase price AND the ongoing operating expenses?”

I have observed that people who ask “How much are the payments?” are more likely to:

• Pay a much higher purchase price
• Pay a much higher rate of interest
• Be unaware of the ongoing operating expenses
• Finance their purchase versus pay cash
• Still be paying for their purchase even after that item has been discarded

We are ALL susceptible to falling into the “broke mentality” – Have you ever made decisions this way?  Would you mind sharing your story in the comments?

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