Long-Term Finance Tips

Video Transcript

"This is Patrick Munro talking about the benefits of long term financing. America is a capitalistic society based on acquiring goods and services. Well it's the American dream. Many of these goods and services cost a lot of money and so it's important for an individual to have good credit so that they can go to financial institutions that exist to serve the consumer and acquire these goods and services through terms of repayment. Their terms of repayment vary from short to medium to long term. But in this case we're talking about long term financing and you want to reserve that for instruments and assets that are worthy of long term appreciation. And most notably that is real estate. Not a car, not a stereo, none of those things. Those are consumer goods. Real estate is really the only long term asset that is worthy of a commitment of long term financing. So it's important to the individual to be aware of that benchmark and it's certainly well worth the effort to go long term on an asset such as real estate. This is Patrick Munro talking about the benefits of long term financing."