Far too many people think that Wealth=Assets+Debt, as they take on loans to buy nice homes, cars, RVs and other toys. They look wealthy to the outside world, but in fact, are very poor because Wealth=Assets-Debt. Today, car dealers are encouraging consumers to roll over negative equity in car loans to buy newer, bigger, shinier and more expensive cars. The lead anecdote in the linked news item illustrates as a buyer now owes $45,000 on his $27,000 car purchase. This is bad, really bad, but 1/3d of used car trade ins are now going this route.
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Some of the images used here are from PixaBay, which are distributed and used under a Creative Commons license.