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Yes they are frugal IMO. I know some that own a Rolls Royce and play tennis with Bill Gates; they end up buying things often from WalMart, Costco and Big Lots. Mostly because most all came from nothing and have middle class values.
Yes they are frugal IMO. I know some that own a Rolls Royce and play tennis with Bill Gates; they end up buying things often from WalMart, Costco and Big Lots. Mostly because most all came from nothing and have middle class values.
You can take the boy out of the farm but you can't take take the farm out of the boy.
Costco and Sam's Club are smart shoppers. Get them in bulk and whole sale price.
How is an Automobile a Asset? Its a highly depreciable item. Infact it loses most of its value in the first 2 years.
Depends what definition of Asset you're using..
Business definition of Asset: Things (and intangibles) of economic value towards business activities.
Rich Dad, Poor Dad definition: Anything that bring future cash flows in excess of what you paid to acquire such thing.
The car clearly fits the first definition but not the second one (though I tend to intuitively associate "asset" with the latter despite my finance background.)
How is an Automobile a Asset? Its a highly depreciable item. Infact it loses most of its value in the first 2 years.
"Depreciation is a concept used in accounting to measure the decline in an asset's value spread over the asset's economic life. Depreciation allows for future investment that is required to replace used-up assets."
How old are you? You really have your brain completely closed up and unable to learn basic concepts. I realize now it's not because you WANT to understand them, but can't, but because you steadfastly REFUSE to understand them.
Whether not something is an asset has nothing to do with whether you've received a capital gain from it or not.
Quote:
Originally Posted by Texas User
How is an Automobile a Asset? Its a highly depreciable item. Infact it loses most of its value in the first 2 years.
Because it has value. Automobiles don't lose most of their value the first 2 years either...
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