Episode 8: Peoples Debt and What’s Holding Them Back from Success | With Vince Mazzocco
Vince Mazzocco with Mortgages by Mazzocco shares his experience talking about lending to the viewers.
In Episode 8 of the Real Life School podcast, join us as we tackle the issue of debt and its impact on success with expert Vince Mazzocco. Vince shares insightful strategies and practical tips for breaking free from debt and achieving financial independence.
Vince Mazzocco with mortgages by Mazzocco Group discusses common trends, bad spending habits, and finally how their habit patterns are affecting their purchasing power to own a home. Vince and Tyler both agree, and go back and forth about convenience purchases, bad spending, and high interest car loans and how these decisions affect someone’s debt to income ratio.
Listen to Vince when he says “buy an asset that's going to appreciate, and look at what your spending our money on”. Vince breaks down a scenario and someone’s potential budget and says “look at your bank statement here: okay yeah of course, so McDonald's yep, Wendy's yep, Starbucks, Taco Bell, well that’s Monday. Tuesday, Taco Bel, Pei Wei, Starbucks, Circle K, and Circle K is $984 so I know it wasn't gas. Okay you get my point. So I add all the stuff up I'm like Tyler that was $450 you spent between McDonald Starbucks”
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Supply and demand right, if demand is high and supply is low, that is only going to drive values higher right right”