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RE: Keys to End Financial Enslavement
Nice list! I have been thinking the same things recently and hope to break out of debt. Thankfully I've avoided student loans, and only have a car and house. These are some good starts, I would like to throw in crypto currency mining as I think that could be a good potential passive income. Beyond that, rule number one is something that so many people don't get now a days, and that is the killer.
Good for you to not incur student loans. The house is a good investment however if you are paying a mortgage it is a liability. Same with the car. If you can take the city transit, bike or walk it may help in the savings. Insurance can be a killer too. Decide what you truly need to insure and what you do not. It is a gamble but one that most insurance companies win. They reinvest your money and gamble that you will not collect on it. Do you really need insurance? Also Child support. It is cheaper to keep her if you are going to have her than to forfeit her and pay child support. Again thanks for the reply.
Unfortunately by law here we need car insurance, and with the car loan it is actually checked on. My wife does use the bus though to get to work, she much prefers that.
How about car pooling or a shared car that several people contribute to.