Why Taking A Loan To Buy A Car is Bad Debt - WAITHAKA GATUMIA 

People build houses on loan leave it empty and stay in a rented house in diaspora.

Waithaka is really smart. Reinforcing his point. Your house is not an asset. You spent a lot of money to own it. As an investor your house suck money from you. As an average person your house is an asset. Having people pay you rent is what makes your house an asset. Having a house is good but not enough for your financial freedom. Working hard to have more money flowing in through diverse investments . Having more assets on your financial statement means you have less deficits, Akin to having a low Debt to GDP ratio.

I love this conversation

A very nice conversation. Thank you

im getting inspired. thank you

The bitter truth. The CEO is really smart.

Sometimes you need the car and you can’t avoid it without loan, and the cost for that is interest

Great conversation 👌

Correct. The Financial Institution is NOT concerned of your well-being, but their bottom line.

No lies , majority of working class people buying cars to show they’re doing well . Eric implying it’s ok to take a debt just because you can afford it , is typical working class mentality. With that mentality , banks will have a field day with you .

If a person has multiple decent sources of income or high amount of savings,it makes sense to take a high car loan like Eric says. But reality is many who take loans for those big cars its against their salary.Knock on wood the job goes..these people will be in big trouble.Its a false sense of security to borrow according to your current salary

School fees is consumption? Wow. Education has possibly the highest ROI known to man.

What is good for him isn't good for me! Kwani people need to keep struggling and enjoy nothing. Mtu atafute dooh spend vile anataka bora asiombe akikosa.

Waithaka great speech

Shylocks ,in my area, are not taking any domestic appliances or furniture blaming the bad economy. People are taking refrigeratos, freezers, microwaves ,Tvs even repairable machinery to scrapyards .

Reality and theory 1,which group or class are u addressing,

30:50 A two bedroom apartment is small ?

Believe you me, sacco is as good as bank given it's pros and cons.

In one hen....kuwa serious.

Rich dad poor dad lessons

Because we broke, bruh....

1.8M Toyota 7L

Borrowing to finance one’s education is not a bad debt. Hiyo toa. Focus on where bad debt really applies.

You can not put monetary value on satisfaction..

Wathanka, you always come with the same suit. Kwani hauna ingine bwana😂😂😂. That's on a lighter note. Thanks always for the good information

What is a bond? It is a glorified IOU.

The man with the cap is a stupid person and doesn’t want to learn, he resists to all factors with his little or no knowledge on finances. Waithaka is a smart guy and I completely understand everything he is talking about because I have read 12 financial books e.g Rich dad poor dad, the richest man in the Babylon & the road to wealth creation by Dr Emmanuel Olamide

Alafu ukufe uachie watu sherehe ya jasho yako 😂😂. ITAGULWA!! HEEE HE!!

Someone here doesn't understand what he is saying on matters concerning investments,,he is more emotionally involved than logically.... How can you say "if something happens" ... The hope of something to happen is not a strategy. We don't operate by lack on a higher percentage...😂😂

CT stick to literature 😂

Buying a car and house whether on loan or not is not a mistake. Those are costs you will incurr so far as you are born. And when you finish paying, you will be that amount richer! Borrowing for business is double risk

Life insurance is 💯% guaranteed you'll die...

Buy cryptocurrency.

Asset.... CASHFLOW... 👍👍