AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
1min snip
Episode 125: Build A Money Making Machine: A Roadmap to Financial Freedom with Mel Abraham
The High Vibe Life Podcast
Destructive Debt vs. Productive Debt
Destructive debt refers to the borrowing used for consumable goods and lifestyle choices that are not affordable, leading to momentary pleasure without increasing net worth or wealth. This type of debt arises from impulsive buying behaviors and a lack of intentionality in financial decisions. In contrast, productive debt is an investment that can enhance wealth, net worth, or cash flow over time. Examples include debt for purchasing equipment, funding effective advertising, or investing in rental properties. While both types of debt share the common trait of incurring costs, only productive debt contributes to long-term financial growth.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode