Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight and encouragement you need, live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

My name is Josh Rashid's, I'm your host, and today on the the podcast I want to talk to you about the ultimate freedom

machine the ultimate freedom machine when I use the term freedom let me it, I want to include most of the senses of freedom.

I want to use freedom in the sense that allows you to come and go, where you want to go.

I want to use freedom in the financial sense as well because here we're continually talking about

financial freedom.

Now in my predominantly US American audience we have a cultural perception, a cultural conception,

that the ultimate freedom machine is a personal automobile.

Perhaps you've heard of that.

After all, if you think about it, having a car, well, you can come and go where and when you

want.

You can go pretty much wherever you want on your own schedule. You don't have to integrate and wait for a train you don't have to wait for a plane you come and go anytime any place you want

But unfortunately well this is a component of freedom,

the personal automobile doesn't actually buy you freedom.

On the contrary, I would say that for many people,

it buys you financial bondage.

The personal automobile comes with a long list of never- ending costs. Now some of them are obvious. You have a pretty

substantial upfront purchase price that's fairly evident. Some people take that

fairly substantial up upfront purchase price and

amortize it out with a series of monthly payments having car payments or

lease payments. Those can be a significant monthly cost, but the costs don't end.

If you think about some of the other costs of an automobile,

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