There are "financial experts" who advise people to take out their
credits cards and cut them up. And that may be a good plan for
someone who is financially irresponsible, it's not great advice for
someone who wants to build wealth and become financially free.
Cutting up your credit cards won't make you rich; learning to
leverage and manage debt will. If a person has a solid financial
education they will know that there are two kinds of debt: good
debt and bad debt. A person who understands debt will know how to
use good debt to make them richer faster. And when we take control
and learn to manage bad debt, seeing it for what it is and
understanding the toll it can take if abused, we are on the road to
financial freedom. Learn how to make your money work hard for
you...instead of you working hard for money all your life.
Understanding debt and how to use and leverage it is an important
first step.
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