Do You Know The Difference Between Good Debt and Bad Debt??
youtu.be
In this chunk of text, the speaker explains the difference between good debt and bad debt. Bad debt includes credit card debt, car loans, and personal mortgages, as they go down in value over time and do not produce cash. However, the speaker argues that bad debt can be okay if you are responsible with money and have discipline. For example, credit card debt can be beneficial if you pay it back quickly and earn points. Car loans can also be beneficial if you borrow at a low interest rate and inflation is high. Personal mortgages are different because a house can go up in value over time, but it is not an investment and does not produce cash. On the other hand, good debt is borrowing money to purchase something that goes up in value and produces cash flow, such as real estate or a business. The speaker emphasizes that properly leveraging debt to buy cash-producing assets can put you on the path to financial freedom. The speaker encourages people to follow him on social media for more information and to learn from his experiences.
In this chunk of text, the speaker explains the difference between good debt and bad debt. Bad debt