I have more equity in this truck than you do in your house. I ordered this bumper sticker from Build-A-Sign about three years ago. I put this bumper sticker on the bumper of my 1993 Ford F 150 four wheel drive stick shift six cylinder bench seat long bed crank up windows with an aluminum topper pick up truck.
Many of my friends make fun of my truck when I drive it. I paid cash for it for it years ago. If I ever write my sucess story, there will not be a chapter about the repo man towing my car away during tough times.
Equity, the difference between what you own and what you owe. Equity is worth. Equity is value that you own.
I ride to Climer School of Real Estate on U. S. Hiway 441. Yesterday, I saw a new Remax billboard with the caption," Knowledge is Equity ".What a pearl of wisdom. Knowledge is equity. Knowledge is value.
How do you gain equity in your house? You just keep making the payments. Every month, you pay a little bit towards amortizing the mortgage. Every month, you have a little more equity. You can keep that up for thirty years. You could increase the principal portion of your payment and pay the house off faster. You would pay less interest that way.
If knowledge is equity, could we not apply that same logic to learning? We could just make the payments or we could increase the principal portion with extra study and learning. We can study more. We can read. Most people don't but we can if we want to. We can attend seminars and webinars. We can listen to books in the car. We can work at learning. Sooner or later people will start asking us questions. All of a sudden, we realize we are knowledgeable. We are gaining knowledge and knowledge is equity. Knowledge is better than cash. You can lose your cash. You can't lose your knowledge. " Empty your purse into your head." Who said that? Einstein? Shakespeare? Confuscius? You can ask people to help you learn. I am constantly doing that.
If you can increase your house payments to increase your equity in your home, would it not also be true that you can increase your knowledge equity by learning more faster. It is true. Learning is just like depositing money in a saving account.
Learning is an attitude. It is also a skill, a learnable skill. Start today. Learn something new every day.
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