ke out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt i

Why is debt so common? How can it be that having consumer debt is considered so normal? Why are we not taught about the elementary pitfalls of consumer finance and the misery of problem debt as part of our upbringing?

The vast majority of us we are forced to learn the harsh realities of money the hard way. I for one have had to develop a financial education to counter the situation I found myself in. So with debt being one of the primary causes of so much stress in the world why is it so accepted as a de-facto way of living?

Almost everywhere we look the credit industry is tempting us to spend money we don't have. Coupled with the social pressure to keep up with the Jones's, the more uninformed of us are pretty much doomed to a life of struggling to keep our heads above water no matter how much we earn while our creditors siphon away our hard earned income.

The prospect of struggling with a lifelong perpetual state of debt is not a particularly appealing one and completely avoidable when armed with the right knowledge. For the cost of a few books and the time it takes to read them anyone can raise their financial IQ high enough to become one of those 'financially savvy' people who use the credit industry to their advantage by incurring good debt.

What is good debt? Good debt is money borrowed for an investment that brings in income that results in a profit. If you take out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt it

al education to counter the situation I found myself in. So with debt being one of the primary causes of so much stress in the world why is it so accepted as a de-facto way of living?

Almost everywhere we look the credit industry is tempting us to spend money we don't have. Coupled with the social pressure to keep up with the Jones's, the more uninformed of us are pretty much doomed to a life of struggling to keep our heads above water no matter how much we earn while our creditors siphon away our hard earned income.

The prospect of struggling with a lifelong perpetual state of debt is not a particularly appealing one and completely avoidable when armed with the right knowledge. For the cost of a few books and the time it takes to read them anyone can raise their financial IQ high enough to become one of those 'financially savvy' people who use the credit industry to their advantage by incurring good debt.

What is good debt? Good debt is money borrowed for an investment that brings in income that results in a profit. If you take out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt i

informed of us are pretty much doomed to a life of struggling to keep our heads above water no matter how much we earn while our creditors siphon away our hard earned income.

The prospect of struggling with a lifelong perpetual state of debt is not a particularly appealing one and completely avoidable when armed with the right knowledge. For the cost of a few books and the time it takes to read them anyone can raise their financial IQ high enough to become one of those 'financially savvy' people who use the credit industry to their advantage by incurring good debt.

What is good debt? Good debt is money borrowed for an investment that brings in income that results in a profit. If you take out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt i

cost of a few books and the time it takes to read them anyone can raise their financial IQ high enough to become one of those 'financially savvy' people who use the credit industry to their advantage by incurring good debt.

What is good debt? Good debt is money borrowed for an investment that brings in income that results in a profit. If you take out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt i

ke out a mortgage on a rental property that generates enough revenue to more than cover the repayments then you are building wealth through good debt- you have invested in a money generating asset. Simply put- good debt puts money in your pocket and bad debt takes it out.

The key to beating bad debt is to develop a deeper understanding of debt itself. The credit industry is a complex beast that relies on people’s unwillingness to try and understand it thoroughly. The ‘buy now-pay later’ culture so encouraged by unscrupulous lenders is an exercise in pulling the wool over our eyes.

Developing a financial education is not a mammoth task and can be achieved relatively cheaply. The shift in thinking is nothing more than a willingness to learn and develop the entrepreneur we all have inside of us (yes even you).

The key point to grasp is that most people work for money. They go out to work and do their jobs and get paid a salary in return for time spent on the job + commissions if applicable. If they lose their job or stop working for any other reason their income dries up – no work no money.

Entrepreneurs and investors make money work for them- they create revenue generating assets that create passive income. They do not exchange their time for salary, their money is working for them. A lot of this money is borrowed to start with. (Good debt).

The science of money making money is a fascinating and exciting phenomenon. Understanding it does not require a fantastic ability for figures or a degree in business and economics.

Getting into a bad debt hole is the result of not paying attention to your finances and not knowing what you’re getting yourself into. Getting out of debt requires changing those bad