AVOID THIS FINANCIAL MISTAKE AT ALL COSTS

WealthFlow

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00:00What's your monthly rent?

00:01I only give my mom $300 and then $246 for the car payment every week.

00:07Every week?

00:08Yeah, because I have a deferred payment. I'm paying $246 a week.

00:13Oh, I see what you did. Your primary loan of the car, $15,000.

00:19And then you financed your down payment?

00:24Oh, it's just stupid.

00:25Oh, she did a firm!

00:27For those who aren't aware, basically, instead of paying upfront for a product,

00:32what they'll do is they'll say you could split it up, you know, within four payments.

00:36So instead of paying $1,000 upfront, a firm says the click of a button,

00:40just pay $250 for the next four weeks.

00:43And there you go. It's the same thing.

00:45But if you miss a payment, you are wrecked.

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