Dec 28, 2020
There's a lot of factors you need to consider in determining
whether a debt is good or bad. A simple rule is any debt that you
use to generate more income is a good debt and if it doesn't do
that, then it's a bad debt. Additionally, a good debt can also take
form as an investment to an existing business that would pay you
more money in the future.
So, is there really such a thing as good debt? Listen in if you
need more help in determining whether the debt you're about to take
on is good or bad!
WHAT YOU'LL LEARN FROM THIS EPISODE
- Credit card debt- is it a good or bad debt?
- Any debt that doesn't make you money is bad debt
- The Concept of Asset and Liability
- Good debt is used to generate more income
- Bad debt will require more expenses
- How to use credit card as a profit generating center?
- How to make money from borrowed money?
- How to make your house generate income
- Get educated to know what to buy and the cashflow and to
protect yourself with the right asset protection
- Is mortgage good for you?
- How to use a mortgage properly?
- Money in the bank is a bad asset
- It's the asset that you can acquire with the money is what