There are only two conversations in the world – the occupational conversation and the entrepreneur conversation. A typical occupational conversation involves getting a job, getting an MBA, and hoping everything works for the best for you. If you want to grow your means and invest on Wall Street, this entrepreneur conversation is perfect for you. Your conversations reflect your perception of debt. A lot of people have a negative point of view of this word merely because they are not well informed about the kinds of debt and how they can use the good type to their benefit.
In today’s episode, I talk about two kinds of debt – good debt and bad debt. I discuss how you can use good debt to your advantage and share some practical ways to do it. I also share some tips on how you can deal with your bad debt while staying wise about your financial decisions that could result in having leverage on your investments.
Good debt is debt that is leverage against assets.
In This Episode of Real Money Talks:
- Defining good debt
- How to use good debts
- Advantages of having good debts and knowing how to use them
- What to do with bad debt when you acquire money
- Importance of assessing personal debt versus business debt
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