Opher Ganel
1 min readApr 23, 2021

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I wholeheartedly agree with 9 out of these 10 financial tips.

The one I disagree with is #3, about paying extra against your mortgage principal. That's almost always a bad idea, since it (counterintuitively) ends up costing you more money and increases your risk of losing your home, as I show here:

https://medium.com/financial-strategy/why-prepaying-your-mortgage-is-almost-always-a-terrible-idea-88fa87977d77

Instead, I'd suggest this underrated and counterintuitive financial tip: If you need a car (and aren't an amateur or professional auto mechanic), buy your cars new and drive them for a long time.

While endless digital ink has been spilled touting that buying used saves you from the huge depreciation hit of the first year or two of a car's life, the data prove this ends up costing you at least as much if not more in other ownership costs, as I show here:

https://themakingofamillionaire.com/can-buying-your-next-car-new-actually-save-you-money-6803b8774fe8

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Opher Ganel
Opher Ganel

Written by Opher Ganel

Consultant | systems engineer | physicist | writer | avid reader | amateur photographer. I write about personal finance from an often contrarian point of view.

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